Oct 182014

By Mohammed Waseem

Residents of India have many options to pay bills on time. Most of them resort to visiting one-stop bill pay destinations to pay their bills. Here, they again have to wait it queues at wait for their turns. The load is however reduced by the number of clerks processing the bills. Recently, new solutions have been introduced to make bill pay easier and convenient.

Online bill pay has been introduced by banks to enable account holders to pay bills conveniently. We will discuss the best of them which are preferred by Indians. IndusInd Bank is among the leading banks in the country and has tied up with billers in major cities to process their bills for their customers, who happen to be account holders at the bank.

IndusNetUsers can pay most bills including telephone, electricity, mobile phone, television and others. Presently, billers in 23 cities in India are supported. All supported billers, by name, can be accessed here. The service is available for free for IndusNet users, which is the online banking service offered by the bank. For on-time payments, users must schedule them at least 2 days before the due date.

IndusInd Bank is offering this service in association with Bill Desk, about which, we will discuss in the next article. Like any other bill pay service offered by banks, this service also requires that the users be their customers. They just add a feature to their already existing online banking service, to enable customers to pay bills and make their lives easier.

Users can register for an IndusNet Account by using the links here; they can also access the online demo to know more about IndusNet.

Sep 052014

By Mohammed Waseem

In Australia, most people use a bill payment solution called BPAY via financial institutions across the country. BPAY offers fast, secure and convenient bill payments through over 157 Australian financial institutions including banks and credit unions covering over 90% of the market. They support over 44000 bills for 22000 billers and 22000 sub-billers and process over 30 million bills worth more than $23 billion, each week.

The company is owned fully by Cardlink services Ltd., which is jointly owned by ANZ Bank, Commonwealth Bank, National Australia Bank and Westpac Banking Corporation. 92% of the transactions are processed online or on mobile phones.

ebppWith BPAY, users can get all their bills delivered right to their online banking account or their mobile banking account. This can be opted in addition to the usual paper bills normally received. It ensures anytime access and on time payments, apart from better control. More than 2.1 million Australians already use BPAY to receive bills and statements online.

Once registered, users can pay bills securely from anywhere they have access to the banking services. To get started, they need to contact their financial institution and get connected. They need to find the biller code and the BPAY logo to continue payment. After this, they can login and make the payment or schedule it for a later date.

With a mobile banking app, users can pay a bill by just scanning a QR code with their mobile phones. This ensures reduced human error as information is auto-populated after successful scan. With BPAY, users can view bills, store them and pay them either immediately or at a later date.

BPAY is not available to use directly. Instead its offered through another company, so the interested users should contact their respective billers to start using the service.

Jul 082014

By Mohammed Waseem

Chase, a subsidiary of JP Morgan also offers bill payment services to customers. Almost any bill can be paid with this service without any hassle, over the internet. It involves adding a payee and scheduling payments for one time or recurring periods. This takes only a minute and payments happen on secure online gateway.

Bill payment can also be made on the go with Chase Mobile app. Most payments are delivered within two business days. The service is ideal for rent and mortgage, utilities, credit cards and car payments, although most other bills can also be paid. They provide a guarantee that the payments will be delivered on time, provided the customer schedules the payments beforehand and Chase receives the payment before the cutoff time. In case payment is not delivered on time, Chase would cover 100% of the fees resulting from the delay.

Chase MobileHowever, for using bill payment, a customer needs to have a checking account with Chase, an online banking account that allows them to do all banking transactions; this includes bill payment as well. To open an account, customers can follow this link. Customers who already have an account can enroll for the bill pay service or login from here.

In order to pay bills, customers have to login to the online banking account, scroll to the Payments and Transfers tab and add a payee. After confirming, the payee is added to the account. A bill has to be added then, the payment has to be scheduled. In the same way, recurring payments can also be setup.

The bill pay demo can be accessed here in order to experience the service before trying it. The service is user-friendly and easy to use; a good option for customers of Chase, who have an online banking account with them. The drawback, however, is that it is dependent on this fact and is not available for non-account holders. They present various benefits of having a Chase online banking account, but it is upon individuals to evaluate it before choosing to open one.

Jun 222014

By Mohammed Waseem

Alabama is a US state which has many counties. There is a bank which serves the people of these counties, called Bank Independent. Started in 1947, the bank works hard for the welfare of the residents of Alabama. Currently, the bank is present has 27 offices in 6 counties across North West Alabama.

Services they offer include personal banking, business banking, and loans & mortgages. As part of personal banking and business banking, Bank Independent also offers bill pay services. For using both, users need to have either savings or checking accounts with the bank.

Bank IndependentRegistration can be done online through online banking in both cases. The service is offered free of cost for personal account holders and has a wide scope, which means that individuals can pay anyone including other individuals they owe money to, just with an email address. Business customers are charged a certain fee for the service.

The service has some good features including historical bill viewing for the past 18 months, scheduling multiple payments at once, viewing list of pending bills and so on. Scheduling can be done for one-time, occasional and recurring bills. Anyone in the US can be paid, as long as they have a US mailing address. Payments to a government agency or court-ordered obligation, and payments to an address outside the US are not allowed with this service.

In order to ensure payments are made on time, the user is advised to specify the due date while adding a bill, so that it is paid on that day. They also offer electronic bill presentment service for delivery on ebills. In addition a limit of $2500 per bill is applicable for online payment. For larger amounts, they send checks to the biller. For getting a predetermined limit over $2500, the interested customers should contact the customer service at Bank Independent.

Payments scheduled through mobile banking are processed immediately. Payment date can not be setup using mobile banking and recurring payments can’t be setup as well. Interested account holders at Bank Independent can make use of this service from the bank’s website.

Jun 072014

By Mohammed Waseem

Today, many leading banks of the world work with billing companies to enable account holders to pay bills from their account, anywhere they are; that is through online banking. Almost every country has some online bill payment service or another. First Caribbean International Bank has an online bill payment service included as a feature in their online banking service; they call it Bill Balance

First Caribbean International Bank has partnered with various billers in Anguilla, Antigua, Bahamas, Cayman Islands, Dominica, Jamaica, St. Vincent, St. Lucia and few other countries in the Caribbean. The list of supported billers keeps changing and can be checked from here. Users can pay bills without the need for any printed document in hand.

FCIBIn order to begin using the service, users need to login to internet banking and click on “Register a Bill” under Bill Payments. A participating biller has to be chosen and details pertaining to the bills have to be populated, after which, details have to be confirmed and submitted for registration. Once the biller has been added, bills are fetched automatically. All the user has to do is click on “Pay Bill” under Bill Payment and select the biller for paying the bill. Few billers also send e-bills which can be viewed online.

Alerts can also be setup in order to avoid missing a due date. In addition, automatic payment is also available. Limits can be set for maximum amount that can be paid automatically and which bill is paid automatically, provided a biller provides bill balances. Bill balances and alerts can also be viewed and managed from the online banking interface. Notifications are available for notifying about a bill paid, automatic payment made, bill balances available to view online, a bill exceeding automatic payment limit, due bills not paid and failure of payment.

Bill Balance is offered to all First Caribbean International Bank’s online banking customers, free of cost. Customers can pay bills from their saving or checking accounts.

May 122014

By Mohammed Waseem

Bank of America has been known for its part in leading innovations in the recent past. They also have their own bill pay service, which many users are quite satisfied with. This service is offered along with online banking for Bank of America customers.

Many users say that their service is highly user-friendly and they also have an excellent customer service team which addresses right issues at right time. Their feature which enables combination of personal and business bills and the ability to view all Bank of America accounts on one page is something which users like a lot. Some users also say that there is minimal need to contact customer service and when they are contacted, they come with a right solution.

Bank of America Bill Pay Screen

Bank of America Bill Pay Screen

However, some users are not happy with their service; they say that Wells Fargo’s Bill Pay service is much better. They say that the only good thing about it is that it is simple and easy to use. In addition, people also complained that adding a biller takes many days due to the approval system, which is not true in case of many bill pay services.

With this service, users can either pay a company or an individual in a few simple steps. Payments can be one time or recurring, which can be scheduled for delivery on a specified date. They however suggest that a payment should be scheduled at least 5 business days ahead of the due date in order to avoid contingencies. Users can also add accounts from other financial institutions to pay bills from; this is an amazing feature which is normally offered only with a few bill pay services from non banks.

Users can also receive bills online and they are notified when a bill arrives. Ebills can be requested to be received on online banking mailbox or any email address chosen by the user. These bills can also be printed for physical records. In addition, users can setup email alerts for due bills. There is no limit to the number of bills that can be paid and no fee is charged for using the service.

It seems to be a good service, though there are better services from third parties. Customers of Bank of America should try it before choosing a different service

Mar 192014

By Mohammed Waseem

ProfitStars, a leading software, solution and technology innovator has a bill payment solutions for retail banking customers including small businesses. They are a Jack Henry Company, operating as a diverse, global division of the latter.

More than 4000 financial institutions already use their solutions called iPay Solutions which are meant for online bill pay and mobile bill pay. There are 5 different products offered under iPay solutions. There is Consumer Online Bill Pay which is meant for individual consumers, there is Biz 2.0 for businesses to make payments including payroll, there is BillSimple for billers. TheWayIPay for person-to-person payments and Mobile Bill Pay for iPhone and Android users.

iPay SolutionsThey also have iPay OneClick, which supports single or recurring payments with other web banking providers and Andiamo, which provides a single view of aggregated data from multiple financial institutions in a mobile application. All of their solutions are available for businesses and not for individuals. So, if individuals use their services through their online banking accounts.

iPay Online Bill Pay offers several options such as single, recurring and automatic payments when it comes to paying a bill. Recurring payments can be setup weekly, monthly, annually or at any other frequency. Single payments can also be made to individuals on their email address or electronically or by sending them a check.

The payments calendar displays all the past, pending and future bills for the better convenience of the user. Reminders can also be setup in order to avoid missing a due date. When a payee has been added and a bill is being paid, the amount of the last bill paid is displayed on the screen and it is displayed every time a user pays a bill, so that they don’t have to go elsewhere to check this information.

Notifications can be received by email or text message or both, as chosen by the user, which includes a report of bills paid. E-bills can be received directly on the online bill pay account for supported billers. E-bills history for 18 months can also be viewed online.

iPay Solutions is a comprehensive solution for businesses which includes all services which a good bill pay service should have. Many American companies already use their services, and the customers can access online bill pay from their online banking accounts or their mobile phones.

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