Money SmartsDecember 27, 2021

Can you believe that there was a time, not so long ago, when people were hesitant to pay their bills with online banking Bill Pay? Somehow, writing checks and stamping envelopes seemed safer to some people.

But in today’s financial world that myth has been busted! People today are paying every bill imaginable through their online banking Bill Pay -- mortgages, tuition, utilities, loans, rent, credit cards, you name it and it’s being paid online.

Why has there been such a drastic shift?  Here are 6 good reasons why:

1. Bill Pay Is Convenient And Saves You Time

-- Once you have the electronic bill payment service set up in GLCU’s Online Banking, it takes just minutes to pay your bills.

-- If you use the recurring payments Bill Pay feature, you'll save even more time.

2. Bill Pay Saves You Money

-- If you’re trying to minimize unnecessary fees, signing up for free Bill Pay service is a good way to keep track of your accounts and avoid charges for missing or late payments.

-- Eliminates buying checks, postage and envelopes.

3. Bill Pay Lets You Consolidate Your Finances

--Making online payments through GLCU makes it convenient to pay all your bills from a central location. Online Bill Pay lets you declutter your finances (and your counter) in one fell swoop.

--You do not have to log into several websites and remember multiple passwords.

--Pre-schedule payments on their due date or another day of your choosing.

--After scheduling a payment, GLCU will either pay those companies electronically or send them a paper check.

4. Bill Pay Simplifies Managing Your Money

--Check account balances and determine whether your bill payment has been scheduled and paid. With all your bills and payments organized in one single place, you can easily tell if something is posted incorrectly, if you missed a payment completely or if your bill amount has changed.

--Set up email alerts that keep you posted about scheduled payments. 

--Search specific payments online.

--Access online payment history.

--See where your money is going for budgeting purposes, so you can make sure you have enough funds available to cover each payment.

5. Bill Pay is Secure

-- The fewer paper statements, checks and personal information you let physically float through the mail, the better. GLCU utilizes the best security protocols to keep your transactions secure, incorporating several measures to keep your information safe reducing the risk of identity theft:

     --Usernames and passwords

     --Encryption processes that keep you data hidden during electronic transit 

     --Automatic sign off if your online session is idle for too long

6. Bill Pay Is Green Friendly

--When you move your bill payments online, you do your part to preserve the Earth's resources. One of the biggest advantages of paying your bills online is getting rid of all that paper. These days, pretty much any bill that can be mailed can just as easily (and usually more cheaply) be sent electronically translating to less paper waste in the landfills.  

--And if fewer bills have to be created, that means much less energy and fuel being expended on printing, processing, mailing and transporting them.

How do you get started? It’s easy:

--Sign up for Bill Pay through GLCU’s Online Banking today.

--After enrolling in Bill Pay, you will be able to schedule payments though Online Banking or the Mobile Banking App.

--Add the providers you would like to pay by plugging in the account number and billing address for each one, then authorizing GLCU to send payments for you.

--Payments can be sent by GLCU electronically or via paper check, so you can pay even if the biller isn’t online.

--You can also choose a one-time payment or set up a recurring one.

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