presented by dick kauffman sirs branch 116 february 20, 2014 paying bills online
TRANSCRIPT
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Presented by
Dick KauffmanSIRS Branch 116February 20, 2014
Paying Bills Online
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•Convenience•Convenience•Convenience
Why Pay Bills Online?
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•No check writing•No mailing/postage•Can determine date of payment•Can set up automatic bill payment•Can display/print history of payments•Can make payments remotely▫(tablet/smartphone/laptop)
•Nominal charge, if any
Conveniences
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▫Most banks and financial institutions offer online services/bill paying including:▫Wells Fargo ▫Bank of America▫Quicken▫Stifel Nicolaus ▫…and many more
Who Offers Online Bill Payments?
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•Most banks and financial institutions are basically the same with minor differences
•Terms may vary (most are free)▫BofA, Wells Fargo, Stifel Nicolaus are free▫Quicken Bill Pay $.95/mo. and some free
Process of Bill Paying
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•Wells Fargo process▫Go to wellsfargo.com and click Sign Up▫Enter your information▫Accept agreements and create username and password▫Check your email for messages titled Please Validate Your
Email Address and get your code▫Go back to wellsfargo.com click Enter Validation Code▫On the enter your validation code page and click Submit, and
then finish enrolling
Set-up Online Account
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E-Bill Launch
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•Option to set up incoming bills to be electronic (E-Bill)•Or continue to receive bills in the mail•Or a combination of both
Launch E-Bill (online account)
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•Notification to Payee to send bill info to bank or home
•Or online set-up of E-Bill link from Payee Accounts
Set-up E-Bills (Incoming Bills)
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•Type in Payee Name or View Our Payee link•Add required info▫Account number▫Address▫Payment Options*▫Funding Sources*▫Notifications*▫Categories*
Set-up Payee Accounts
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•Pay manually
•Pay automatically (in response to E-Bill)
•Pay at regular intervals
*Payment Options
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•Specifies account from which to draw funds
•May use multiple accounts to pay various payees
*Funding Accounts for Payments
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•Can send email to you for:▫Payments made▫Bills received▫No bill received within “x” days of billing▫No payment scheduled “x” days before payment due
*Notifications(Depending on how accounts are set-up)
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•Typical Categories▫Auto payments▫Charity contribution▫Insurance▫House payments▫Gambling debts▫Adult entertainment
*Manage Categories
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My Payees
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Start Paying Bills!
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Make Payment
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Search Records
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•What is the lead time for payments? 3 – 6 business days
•Can I make payments to persons or small businesses without electronic business accounts?
Yes. Enter name, address and telephone number and they will write and mail a check (no charge).
•What happens when there is a “glitch” in timing of payment? Most services guarantee on time payment and will rectify
late payments.
FAQs
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•How secure are bill paying services?▫Not perfect but probably better than putting check in the
mail.•How secure are remote payments (smartphones and WiFi
locations)?▫Financial transactions via cellular and secure WiFi locations
are good.▫Avoid transactions on public and non-secured (no password)
WiFi networks.
FAQs