 To
make paying bills and banking easier there are a
number of options that are available that will give you
more time for yourself .
You may already be using one of these
services to pay bills and do your banking but if you aren't
you might like to consider B-Pay or Online Banking.
What is B-Pay?
B-Pay is form of E-Cash (electronic cash)
facility that allows you to pay bills via a telephone or
computer (on-line). Bills are paid by transferring electronic
cash from your bank account to the account of a service
provider to pay a bill.
To be able to utilise the B-Pay facility
you will need to:
- Check to see if your bank offers the facility. If you
are not sure contact your bank or log on to www.bpay.com.au .
This site will also tell you if your bank offers on-line
banking facilities.
- Check to see if your bill has a B-Pay
logo. If you are not sure contact your service provider.
There are currently over 3000-service providers Australia
wide that accept B-Pay payments.
Why consider B-Pay?
B-Pay allows you to pay bills:
- In your own time and in the privacy of your own home
24hours a day, 7 days a week.
- With security. B-Pay is promoted as being a service
where only your name, account number and the amount that
you are paying are transferred from your bank to the
service provider.
- Allow you to pay bills to the cent.
- With ease, especially if your salary is direct debited
into your bank account.
- Removes the need for credit card and cheque transactions.
- Gives you a receipt number for future reference.
What is On-line banking?
On-line banking is a service that allows
you to do your every day banking from a computer
via the Internet .
The types of services that are offered
will vary from bank to bank so check with your bank to
see what types and range of services they offer.
Why consider on-line banking?
On-line banking allows you to pay bills
and do transactions:
- In your own time- most of
these facilities are available 24hours, 7 days
a week .
- In the privacy of your home.
- Take control of your money
as you can pay
bills and transfer money between your accounts and
to other people's accounts.
- Reduces the need for credit card or cheque transactions.
- With ease, especially if your salary is direct debited
into your bank account.
- In multiple transactions- you can do more than one
transaction at a time.
Things to consider when
using B-Pay & On-line
banking services
When using B-Pay or On-line banking
facilities there are a few things that you need to consider:
- Fees or charges for using the service- most banks
currently offer no fees or charges for using either
of these services. Be aware that this may change over
time.
- Your time, are you making the most of your time?
- Accuracy of bank statements- Check your bank statements
very carefully. Don't forget to write
down the reference number, date and time that you
paid the bill.
- The type of access, especially with on-line banking
facilities. Some banks will allow you multi-access
from any computer, whereas other banks will allow you
access to your accounts via a single computer with
down loaded bank software. The difference is the type
of security.
- Always check with your bank about security before
you use either service. Are you comfortable with their
system?
These services can save you time and
give you more control over how you spend your time.
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