Postage is going up to .46 cents & why you should be using online bill pay!

Postage is due to go up to .46 cents a stamp January 2011. If you're one of the few who has not got on board with online banking and bill pay you should give it some consideration.

Here are some benefits:

1. Save Money on Postage
   On average we send out between 10-15 bills per month, but for sake of argument let's say you send out 10 per month. In 2011 that will cost you $4.60 per month or $55.20 per year. How much does it cost to send a payment out through online bill pay? In most cases nothing!
    
2. Usually FREE
   Most banks offer online banking and online bill pay free of charge!
    
3. Better Organization & Instant Access
   You can very easily log into your account and check on what's going on in each of your accounts...no more waiting for a statement or calling and going through a lenghty push button series to find out what has cleared your bank and what is still oustanding.
   
   You can also quickly and easily find out when you last paid a bill and for what amount, often going back as far as you'd like. I love when a company tells me I have not paid them and with a couple of clicks I can tell them exactly what and when they've been paid!
    
4. Automatic Bill Pay
   Do you have a bill that is the same amount each month due on the same date? You can set up your account to automatically send out a payment for a certain amount on a certain date each month
   
   Avoid Late Fees -
   Use this feature to avoid late payments on credit cards. I set my account up to send out $100 on each credit card each month. In most cases I log in and change that amount to what is owed that month. However, if I forget to do so I will not incur a late fee as my account has automatically sent out a payment!
    
5. Time Saver
   This one is obvious, it takes alot less time to click a few buttons and pay all your bills then to sit down w/your checkbook and write out all those checks!
    
6. Easy Transfers
   If you sign up for your banks online capabilities you should be able to quickly and easily transfer money from one account to another (in the same bank of course). This is a true time saver and I use it all the time! This could save you some bounce fees as well, if you log in and notice you may run short this month you can quickly throw some money from another account into your checking and avoid a costly bounce fee!
    
7. Save Money on Check Printing
   Obviously you'll use considerably less checks so you won't be ordering nearly as many as you did before online bill pay....so you'll save a few bucks each year on checks! Plus, it's better for the environment, less paper!
    
8. Mobile Access
   You can have information on your accounts and access to bill paying anywhere you have an internet connection. Realize in the middle of a Hawaiin Vacation you forgot to pay a bill? Not sweat log on and pay from any internet access.
    
9. Set up reminders
   Some banks let you send yourself reminders if you would rather not pay your bills automatically. Each month, you'll get a reminder to check on your latest bills and then pay them online. You can also use reminders to alert you when the money in your checking account dips below a certain level.
    
10. Online Banking and Security
    Go here for a great article on online baking security --->

Do you use online banking/bill payment? Do you find it helpful/convenient? Have any tips?