Bill payment is a crucial part of maintaining your finances, even though it can sometimes feel like a chore. This is why banks have devised convenient and simple ways of helping you settle your bills conveniently.
Internet banking is one such brainchild of the banking industry that has revolutionised how payments are made. Here the internet acts as the interface between you and the payee, making the whole process convenient and instant. The number of online bill payments is rising staedily, corroborating the fact that internet banking is gaining popularity, especially in light of demonetization and the government pushing for cashless transactions.
Here is a look at some of the important advantages that internet banking offers when it comes to bill payments and clearance.
1. Simple, safe and fast payments
In case of a manual bill payment, you would first need to sign the check for the bill in question and then wait for it to get processed or you will have to pay using cash. With an app, you are able to transact instantaneously and from the comforts of your own home. Moreover, since the transactions are encrypted, you are protected against hackers and other allied threats.
2. Using credit cards for payment
Generally, people use cash for making bill payments. However, if you want to, you can use your credit card to make the same payment through the app. This can be very helpful, in case you are short on funds and the due date has arrived. Moreover, credit card transactions are usually safer and a more secure mode of payment.
3. Turning to digital from cash payment
It is always better to reduce cash transactions and the usage of bill payment apps can help you limit cash exchange. Printing physical currency is an intensive process that uses up a lot of the country’s capital. Moreover, you will also end up saving paper when you control cash transactions, which can greatly help the environment.
4. Keeping track of bills is easy
When you try to keep track of bills, it may be difficult. However, using the online method can simplify this process of tracking the paid and unpaid bills. Some of the apps offer the opportunity to set alerts and notifications, which will help you know if a bill is due. Moreover, in case of a bill where the amount remains same every year, you can automate the bill payment procedure completely.
5. Attractive discounts
Sometimes, certain companies will offer attractive discounts on the bill amount when you decide to pay them through apps.
Internet banking is one such brainchild of the banking industry that has revolutionised how payments are made. Here the internet acts as the interface between you and the payee, making the whole process convenient and instant. The number of online bill payments is rising staedily, corroborating the fact that internet banking is gaining popularity, especially in light of demonetization and the government pushing for cashless transactions.
Here is a look at some of the important advantages that internet banking offers when it comes to bill payments and clearance.
1. Simple, safe and fast payments
In case of a manual bill payment, you would first need to sign the check for the bill in question and then wait for it to get processed or you will have to pay using cash. With an app, you are able to transact instantaneously and from the comforts of your own home. Moreover, since the transactions are encrypted, you are protected against hackers and other allied threats.
2. Using credit cards for payment
Generally, people use cash for making bill payments. However, if you want to, you can use your credit card to make the same payment through the app. This can be very helpful, in case you are short on funds and the due date has arrived. Moreover, credit card transactions are usually safer and a more secure mode of payment.
3. Turning to digital from cash payment
It is always better to reduce cash transactions and the usage of bill payment apps can help you limit cash exchange. Printing physical currency is an intensive process that uses up a lot of the country’s capital. Moreover, you will also end up saving paper when you control cash transactions, which can greatly help the environment.
4. Keeping track of bills is easy
When you try to keep track of bills, it may be difficult. However, using the online method can simplify this process of tracking the paid and unpaid bills. Some of the apps offer the opportunity to set alerts and notifications, which will help you know if a bill is due. Moreover, in case of a bill where the amount remains same every year, you can automate the bill payment procedure completely.
5. Attractive discounts
Sometimes, certain companies will offer attractive discounts on the bill amount when you decide to pay them through apps.
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