Nov 222014
 

By Mohammed Waseem

TD Bank is known as America’s most convenient bank and it tries to be just that by offering services that make the lives of their customers convenient. One of the problems Americans face is the payment of bills; it is one of the most inconvenient tasks in their lives. TD Bank has made it easy and convenient by offering a 3 step bill pay service.

To pay a bill, a customer just has to select the company or biller to pay the bill to and then enter the billing information before choosing the amount and time of payment. Any company or individual in the US can be paid with this service and this can be done anytime on any day except weekends and national holidays.

TD Bank Bill PayThey also guarantee on time payments, provided it has been scheduled accordingly. The earliest date the biller can receive the payment is displayed, which can be changed to schedule a future payments. E-bills can also be received, which is a move to save paper and do some good to the environment. Billers with a US address can be added at any time, to make payments to them.

It should however be noted that not all TD Bank accounts have this service available. It is available only with checking and money market accounts. Payments are completed either electronically or using paper checks. Electronic payments are completed just the next business day, paper checks typically take 4 business days.

Payments can be scheduled up to 1 year in advance, while the minimum number of days it can be scheduled varies from biller to biller. Typically, it is between 1 and 4 days. Notifications can also be setup to know when a bill is due. Same day payments are currently not supported, but they may offer it in the future.

Like I said above, one has to be a checking account or money market account holder with TD Bank to be able to use this service. Interested individuals can enquire further at 1-800-493-7562.

Nov 192014
 

By Mohammed Waseem

In India, online bill pay still has a long way to go; not many people use the service, they either visit the service provider directly or visit a place where they can pay all bills. In few cities in India, there are citizen service centers, which accept all utility bills and few other bills as well. For example, in Bangalore, there is Bangalore One, a one-stop bill pay location for all household bills.

There are few similar organizations that enable bill payments at their premises, but online payment is very rare in the Indian society. Perhaps they will take time to adopt the electronic payment option or they haven’t managed to trust the electronic security.

OxigenAmong a very few online bill pay services is Oxicash (Oxigen Bill Pay), that is trying to revolutionize payments in India. They have an e-wallet product that enables money transfer as well. With Oxicash, users can pay many bills online. They use BillDesk’s framework to make this happen; they have a page of their own on BillDesk’s domain.

Bill payments include utility bills, fixed line and mobile bills, subscriptions and donations. The bill pay page can be accessed here. Donations are accepted for major NGOs including CRY, SAVE, PETA, Childline, WISE and Cancer Patients’ Association. Subscription payments are available for Reader’s Digest and India Today, while Insurance Premiums are accepted for ICICI PruLife and PNB Metlife.

Utility payments include electricity, gas and telephone bills and has very limited list of billers including Reliance Energy, BSES (Delhi), Mahanagar Gas (Mumbai), Airtel, MTNL, etc.

This facility is available, however, only to Oxigen Wallet users; a new wallet account can be opened from here. Immediate bill payments or same day payments are not supported; time taken is between 3 and 4 business days, so the payment should be scheduled accordingly.

Nov 082014
 

By Mohammed Waseem

How would money transfer companies look at bill pay? Just as another category in money transfer. Yes, the trend of cross-border bill pay is starting and companies are looking to grab the opportunity and become the pioneers. We learnt that such a company called BlueKite that was acquired by Xoom Corporation, then we learnt about Money Move IT, both of which offer overseas bill pay.

XoomIn this article, we will learn further about Xoom’s plans after acquiring BlueKite. As planned, they will offer bill pay services to Mexico, Guatemala, El Salvador, Nicaragua and the Dominican Republic. They are launching it this November with an aim to broaden their relationship with their customers. Connecting the latter to their families better is a great step to gain customer loyalty, and for long term. This is what they are looking forward to, from this service.

They have proven to be among the fastest and the most reliable money transfer services in the United States, the new service makes them further better. They have now declared the pricing for the bills paid by using this service; it is $2.99 per bill paid, in addition to a foreign exchange fee. Considering that it is cross-border payment, this fee is reasonable.

Xoom customers will also get real time account balances and pay one or multiple bills instantly. Xoom has huge expectations from this product and so do their customers. They must work on adding more countries to the supported countries list. Additionally, in order to expand, they must introduced their services in other countries as well where people can send money from.

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