Search thousands of topics on CostHelper

BROWSE ALL TOPICS >> babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business sports weddings
CostHelper > Personal Finance  > Taxes & Financial Planning > Online Bill Pay

Online Bill Pay Cost


How Much Does Online Bill Pay Cost?

 
low costLow: Freeaverage costFees: Up to $10 Per Month
post Post    

Online bill pay services permit customers to use their computer and the internet to pay anyone, from the lawn maintenance crew to a cable company. Online billing set up through a customer's bank is often free, although the checking account needed to provide funds for payments may require a minimum a balance or assess fees.

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] .
Related articles: Online Banking, Line of Credit, Financial Planner

What should be included:
  • 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.
Additional costs:
  • 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.
Discounts:
  • 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.
Shopping for online bill pay:
  • 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.
post Post    
CostHelper News


7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013


Fix-it Favorites: Duct Tape and WD-40
My mother taught me that all home fixit-projects can be accomplished with either duct tape or WD-40. If something shouldn't move and it does, use duct tape. If something should move and it doesn't, use WD-40. || Posted September 30 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments


 

Comment On Your Experience With Online Bill Pay
 
Subject:  *
Amount Spent:  *
Financial Institution: Fees: 
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  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
More Personal Finance Topics
Check Out All Costs for Personal Finance How Much Do Tax Returns Cost? How Much Does Closing a Home Cost? How Much Does a Traffic Ticket Attorney Cost?

Search Thousands of Topics on CostHelper.com

 
Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Low cost baby shower
Paid: 600.00
I spent about $200 on food/snacks/simple decor- where I served Packaged desserts (due to covid) and deli sandwiches, bbq chicken and Bread/cheese/fruit... [more]
-Mommy to be
Baby Shower Cost
TSLIM Insulin Pump
Paid: 1131.20
I have Federal Blue Cross, the most expensive Self Plan. The insurance company paid $5,584.20 for the TSLIM, and I paid $1,131.20 out of pocket. Medtronic Insulin pump was quoted at the same price... [more]
-Read by EOB
Insulin Pump Cost
Prescription Eye Glasses
Paid: 380.00
Eye exam was less than $60. Frames alone were about $118. Extra-wide progrssive lenses an additional $80. Polycarbonate thin lens with blue light filter, UV protection, anti-glare, 1-year warranty on frames & lenses... [more]
-Lady 70
Eyeglasses Cost
About the free dog food
Paid: 100.00
I'm a 70 year old retired senior citizen I have two dogs Lily is Irish Terrier weighs about 15 lb very good dog Jade is a blue nose pitbull and she's 5 months old and weighs about 55 lb cost me $100 or better a month to feed them I like to ... [more]
-Robert moneyhan
Dog Food Cost
DIY Front End
Paid: 965.00
Front: 2xCV axel, 2xball joints, 2x Sway bar end links,sway bar bushings, 2xrotors, 2x brake pads. $500Rear: brake pads. $35New Tools (yay!):3 ton floor jack, 20v impact wrench, 2x Jack stands, tube lock-tite, can of pb blaster. $430.$965... [more]
-Mr. Gillis
Car Suspension Cost
Fujitsu split single unit
Paid: 3400.00
I was charged 3400 which include electrical work. The contractor was referred to me by a neighbor. I asked about a rebate and was informed the cost included any rebate money and he (the contractor) would take care of it... [more]
-A wary lake resident
Ductless Air Conditioner Cost