The Pitfalls of Electronic Bill Payment

Has with the increasing number of people who use the Internet in the last ten years, electronic bill payment, more and more common. It's just so much easier to lay down in a web site and pay to sit in the comparison and a check in an envelope and a stamp and drop in the mailbox. But it is not all rosy - there are several things to be aware when paying by on-line.

The greatest danger in the use of online payment of bills is that someone intercepting your information and use it to make fraudulent purchases in your name, or even commit a full case of identity theft. There's a huge criminal industry, exactly, and it is dedicated to getting worse all the time.

There are several things you can do to reduce your risk when online banking:

- Use a strong password, not something easy to guess the
- Make sure you organize a good Internet security program on your computer and update
- Never access your banking site (or another important page) from a public wireless connection, such as in a café or hotel
- Be vigilant about e-mails purportedly from your bank and want to ensure you "update" my account - that before personal information legitimate

Another potential pitfall of online banking and paying bills is the delay between when you after a transaction and when it reaches the payee. Many things on the Internet almost immediately, but the payment of bills is not one of them.

It usually takes anywhere between 2 days will receive a week for a payment on your account. And the day is booked, the official date of payment, not the day you is processed.

That is, if you make a payment that will not actually reach the recipient until after the due date, you will be charged a cancellation fee is payable, even if you process it before the due date on your page. Make sure you enter your payments enough time to clear when they are through implementation.

I assume that electronic bill payment is similar to do it by mail in such a way - the delay between sending the payment and if it received by the payee.

Paying bills electronically has far more advantages than disadvantages, one only has to be how it works and ensure that your data is kept as safe as possible are aware of.

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