How much does online Bill Pay save you?

PennyPincher · #1 (**permalink**) 10-10-2005, 02:04 PM

I have been paying my bills through Wachovia's Bill Pay system for about 7 months now. When I was online today, I noticed that I've paid 53 bills through them just since March! That alone saved me $19.61 in stamps! And everything has been on time ~ since I can schedule it whenever I wish.

I thought this could be a good place for people to share how much they save - and maybe encourage others who may be hesitant to do it as well.

I have NO idea why I waited so long!!

How much are you saving?

sweeps · #2 (**permalink**) 10-10-2005, 02:19 PM

I don't have exact figures, but I've saved over $80 in stamps, and at least $10 in checkbooks. I've earned a small amount of interest by delaying my payment as late as possible. I've avoided fees on a couple of bills that I forgot to pay until just a couple days before. My bank statements clearly show who each payment went to (rather than just showing a check #). And I've easily saved hours of time.

It's a no-brainer for me.

DivaJen · #3 (**permalink**) 10-10-2005, 03:02 PM

I've paid 27 bills online (for free) since February of this year, which equals a savings of $9.99. As I've seen it working flawlessly for me, I've added more payees, so 2006 ought to bring greateer savings for me. I love the convenience of it, and I hardly write any checks anymore.

mjrube94 · #4 (**permalink**) 10-10-2005, 06:06 PM

I pay online whenever I can, mostly for convenience. I never really thought much of saving the stamp here and there until I read everyone else's savings...it really does add up! Also, both my bank and my credit card have offered $5 credits for going exclusively to online statements, and Verizon Wireless recently offered a $20 credit to have payments auto withdrawn from your checking account. It's worth checking out any company you do business with to see if they offer such deals...

frugalfarmwife · #5 (**permalink**) 10-11-2005, 02:55 AM

I've saved over 25.00 this year in stamps alone and have used about 1/3rd the number of checks I'd usually use. I pay bills through my bank and have even paid Veterinary and dental bills this way. I haven't bought stamps since the first of the year.

I especially like online bill paying as I can keep extremely close tabs on where each and every penny is at any given time.

KJ

dealsaver · #6 (**permalink**) 10-13-2005, 12:41 PM

MBNA billpay is the best! You can pay other credit cards with it and get another months float for free!