Set up automatic payment for easy and fast bill payments

 

Banks and many mobile payment apps now allow you to automate your monthly utility bill payments in the digital age. The monthly payment is automatically deducted from your account on or before the due date when you use this service. You can store your biller details, bank account, bank and card details for faster bill processing. Automatic utility bill payments are available at more banks and mobile apps around the country, and on average, they save about 5% in cash backs and online discounts. As a result, automatic bill payment is a no-cost win-win alternative. However, you should check with your bank about the facility fees, as there may be a hidden fee associated with the service.

The money is deducted from your bank account at the appointed time once the payments are set up. Auto and mortgage loans, credit card payments, water bill and any other utility bills that requires a monthly payment, such as your utility bill, are all examples of expenses that can be set up on autopay. Autopay has some significant benefits when used responsibly: it saves you time every month, avoids late fees, and gives you piece of mind. If your monthly funds change, you are unable to keep up with account monitoring, or you prefer that your financial information is not on file with numerous vendors, autopay may not be ideal for you.

Here are a few advantages of automatic bill payments and autopay feature on mobile app:

·         Never miss out on due dates:

Now you will never miss out on due dates on your monthly utility bills. Monthly utility bills are easy to pay. You can save details for all your recurring bills including electricity bill, water, broadband, gas along with your DTH and mobile recharge. AutoPay ensures that your payments are both simple and timely. No more late fees!

·         Reduces the hassle of entering details again and again

With the advent of mobile apps and autopay functionality, you can choose to save your customer details and payment details for faster processing of your bill payments. This not only saves your time; you will also not miss out on monthly payments.

·         No more late fees

You can avoid late utility bill payment penalties and fees because the bank will debit the needed amount on the due date. With the autopay option, you can just pay your utility bills at ease. This means you can set the due date for, say, the day after you get paid, alleviating any worries about not having enough money in your account and making bill management easier.

·         Easy paperless bill payments

When you choose automated utility bill payment for monthly bills, you can often avoid paper billing and the need to mail in payments, reducing your carbon footprint. This means you can set the due date for, say, the day after you get paid, alleviating any worries about not having enough money in your account and making bill management easier.

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·         Autopay all your bills

You can choose to autopay all your utility bills including your electricity bill, mobile recharge, DTH, gas, water, broadband bills and more easily with autopay functionality. Once you've set up automatic payments, they'll happen on a defined timetable. You'll never have to worry about missing a payment again.

·         Saves your time

The Autopay functionality saves all your time. It reduces the hassle of entering multiple card numbers and processing your payment again and again. With the Autopay option, you don’t have to register and enter all the fields manually ever again.

You can begin automatic utility bill payment services downloading the payment mobile app. Apps like Bajaj Finserv app allow you to autopay bills. Some apps additionally provide you the choice to choose and turn on this feature. All you need to do is, download the mobile app and register on the Bajaj Finserv app.