February 9, 2009

On line bill pay

I switched over about a year ago to online banking and bill pay. Once it was all set up I couldn't believe how much time it saved. Not only do I spend less time filling out my bills, I also save money and the environment. One never really thinks about all that goes into getting and sending back a bill. There is paper, ink, electricity, manpower, postage, gas, and the list goes on. This was a just a small insight that I found interesting.
"companies usually pay between 75 cents and $2 for each document generated and mailed. Meanwhile, the same companies end up paying another $1.25 for each paper check payment they must process, most if not all of which could be eliminated through online bill payment."

The cost per bill must be significantly more when you add in paper, gas, utilities, etc.

Just enjoying doing my part.

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