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."
http://environmentabout.com/od/greenlivingdesign/a/online_bill_pay.htm

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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