Aug 092014

By Mohammed Waseem

Managing bills is a task that most of us don’t like, considering the number of bills we get and the difficulty in preserving them. Storing them in a dedicated drawer is a good idea and prevents losing important bills. Whenever needed, a bill can be taken and paid. What if the key of the drawer was given to trusted person to collect our bills and place them in the drawer for us to use them whenever we want?

This concept has been taken online by a US based company, Finovera, which is an online bill management company. They do not support bill payment at present, but have said that they would launch it with the next versions of the solution. Users can store any bill or even personal documents safely online, with access anywhere in the world.

FinoveraFinovera allows US residents to download and access bills and store them in their account. This feature can be accessed anywhere in the world, but only US providers are supported. Non-US users can still use the service for offline bill management and they can also use the Digital File Cabinet, where they can store their documents.

Both online and offline users can track their bills and setup alerts for due bills, in order to avoid missing a due date. For every biller or provider added, Finovera asks for the user account credentials with the concerned provider, to securely connect and retrieve bills and statements. The credentials can be saved in the users’ Finovera accounts to enable auto login and to avoid entering the passwords repeatedly.

Finovera supports thousands of providers and works hard to add more to the list. So in case users don’t find their providers, they can request for support. Most providers continue to send paper bills after signing up for the ebills, except those that require paper bills to be stopped before switching over to ebills and if paper bills were voluntarily asked to be stopped. In addition to bill management, users can also manage their money with Finovera.

The most important point of concern here is the security of the Finovera account. The fact that all the credentials are saved in this account makes it even more worrisome. But Finovera makes it clear that their systems are protected with bank level security and the accounts of the users are safe with them. They also advise that users should never share their passwords with anyone and should not use Finovera from a public computer.

Finovera can also be used on a smartphone and a tablet. Currently, they only have an iOS app, but they will be launching their Android app by the end of 2014. The ability to link accounts instantly and the fact that the service is absolutely free are just great. Users who are interested can sign up from here.

Jun 292014

By Mohammed Waseem

Singapore is a rapidly developing country with a lot of multinational companies having offices there. Investments from foreigners are also easy there, which makes the development rate higher. Paying bills is also easy with electronic payment in place. DBS Bank, a Singapore based bank offers bill pay service with their online banking. The bank has its operations in Hong Kong, China, Taiwan and Indonesia as well. They have over 250 branches in 17 markets.

In Singapore, DBS Bank has partnered with over 150 corporations for enabling customer to pay bills online. All of the billers are supported for payment by internet banking and phone banking and some of them by personal banking. Some of them are also supported for payment by ATM as well. The list of supported billers can be accessed here. If customers don’t find their biller in the list of supported companies, they can request the bank to add these billers to the list.

iBanking DBSCustomers can pay bills for utilities, telecommunication services, taxes and much more, all from their online banking account. Payment can also be made through participating organizations at anytime and anywhere through the on-the-go banking. For promoting this service, DBS Bank is offering 2 Mini Cooper cars and S$30000 in prizes the users of online bill payment could win.

The customer has control over how much has to be paid and when, they can pay at anytime from anywhere. The service is offered free of cost, which is amazing. The service is also available through POS Bank, which was merged with DBS Bank earlier in 1998.

In order to make the payments, one has to have an account with DBS Bank or POS Bank and has to apply for internet banking. Once they have applied and have got an iBanking Account, they can login and click on “Payments”. Then they need to select “Bill Payment: Manage Billing Arrangements”, add a biller and provide the customer reference number to fetch the bill information. At the bank branches, customers need to fill the Bill Payment Arrangement form and submit it over the counter to avail theservice.

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