Online Bill Pay Cost

Typical costs:

• Online bill pay services range from free to $9.95 per month. At Virginia-based Presidential Bank[1] , online bill pay is free for customers with interest-bearing checking accounts with at least a $500 balance. Another checking account requires a $100 minimum balance, but does not accrue interest and charges $5.95 per month for the first 10 bill payments plus 40 cents for each additional one.
• Bank of America's online bill pay service is free for checking customers and includes unlimited payments. The company's checking accounts[2] vary, but generally cost from $8.95 to $25 per month, with fees waived if minimum balances ranging from $1,500 to $10,000 are maintained or if monthly direct deposits are made. The bank's web-only checking is also free as long as customers receive statements online and conduct deposits and withdrawals at bank-owned ATMs. Otherwise, there's an $8.95 monthly charge.
• Nebraska-based online bank FNBO Direct[3] allows customers to pay bills through email or with an internet-enabled mobile phone using web-based personal financial management service Mint.com[4] . FNBO makes payments over the internet or-- if the merchant does not accept internet payments--using traditional paper checks sent through the mail.
• At New York's Ballston Spa National Bank[5] , unlimited bill pay costs $4.95 a month with a basic checking account that's free with a $500 minimum balance.
• Fiserv[6] is a company that handles online bill pay functions for a fee; $5.95 a month for the first 15 transactions, plus 50 cents for each additional payment. Another non-bank based bill pay service, PayTrust.com[7] , also lets users pay bills electronically. The company charges $9.95 per month for 25 transactions plus 65 cents per additional transaction. One downside of the service--receiving a bill and paying a bill are considered two separate transactions, boosting the cost, according to The New York Times Co.'s ConsumerSearch.com[8] .

• Look for a bill pay service that offers customer support 24 hours a day 7 days a week to resolve time-critical financial payment needs. Most larger banks and private bill pay companies offer such assistance.
• Find which creditors can be serviced by online bill pay; Wells Fargo[9] and others with bill pay services list e-billers prominently on their website.
• Find out whether the bill pay service will send conventional paper checks to companies that do not accept online payments, as Fiserv does.
• U.S. Bank[10] permits customers to set up email payment reminders.

• Making payments or checking balances on a cell phone or mobile device may result in mobile fees that vary according to the consumer's carrier, according to Bank of America[11] .
• With smaller banks or some private bill pay services, extra fees are charged if customers exceed a set number of transactions. MSN Bill Pay[12] charges $5.95 monthly for 15 payments, and then $2.95 for 5 more payments or 50 cents for a single extra payment. However, larger companies including Bank of America permit an unlimited number of transactions per month.

• Wells Fargo permits customers with bank accounts that are not eligible for free bill pay service to try it free[13] for two months. After that, the cost is $6.95 per month.

• Leading consumer website CreditCards.com[14] gives tips about the pros and cons of paying bills online.ConsumerSearch.com[15] weighs advantages to consumers who sign up for online bill pay through their existing bank rather than another firm. U.S.Bank[16] gives safety tips for people using online bill pay services.
• Top-rated online bill pay services for 2011 are ranked by consumer site TopTenREVIEWS[17] . ConsumerSearch.com also ranks[18] several independent online bill pay companies.
• Complaints involving national banks are handled by the Comptroller of the Currency Administrator of National Banks[19] . Complaints involving bill pay services offered by credit unions are handled by the National Credit Union Administration.
• The FDIC has detailed information[20] on online banking regulation and where to file complaints.
• Not all domestic banks or those chartered outside the U.S. are insured by the FDIC, and customers may not be reimbursed by regulators should the bank fail. Check a bank's status using the FDIC's Bank Find[21] tool.

1.  www.presidential.com/InternetACs.htm
2.  /www.bankofamerica.com/
3.  /www.fnbodirect.com/01d/html/en/learn_more/products/online_billpay.html
4.  /www.mint.com/
5.  /www.bsnb.com/site/billpay_fees_charges.asp
6.  www.checkfreecorp.fiserv.com/cda/corp/L3.jsp?layoutId=326
7.  paytrust.intuit.com/paytrust-online-bill-pay-faqs.jsp
8.  www.consumersearch.com/computers-and-internet
9.  //www.wellsfargo.com/wfonline/bill_pay/ebills/list
10.  /www.usbank.com/online-banking/faqs.html
11.  /www.bankofamerica.com//onlinebanking/index.cfm?template=what_you_can_do
12.  billpay.msn.com
13.  /www.wellsfargo.com/wfonline/bill_pay
14.  www.creditcards.com/credit-card-news/12-tips-for-auto-bill-pay-1267.php
15.  www.consumersearch.com/computers-and-internet
16.  /www.usbank.com/online-banking/faqs.html#IS5
17.  bill-paying-services-review.toptenreviews.com
18.  www.consumersearch.com/computers-and-internet
19.  www.helpwithmybank.gov/national-banks/national-banks.html
20.  www.fdic.gov/bank/individual/online/help.html
21.  www2.fdic.gov/idasp/main_bankfind.asp

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