5 Ways Businesses Benefit from Online Banking


Easy Bill Pay

Instead of dealing with the time and costs of checks, envelopes and stamps, many banks offer an easy (and often free) way to take care of your bill payments online. Online bill pay allows you to pay any company, or even individuals, with a few clicks on the keyboard.

If your business has an account with a company, for instance, you can set up a payment by plugging in the name of the company, the address where payments are sent and your account information. For an individual, you need to include his or her name and address. After you enter this data in once, the bank will store the information for any future payments you make. The bank will then send the check out for you.

For bills that vary each month, it would then be a matter of simply logging into your online bank account and plugging in the amount for this month's bill. For bills that are the same amount every month, you can set up automatic bill pay. If you're worried about setting up an automatic payment and forgetting to discontinue it, you can usually set an end-date.