Direct Payment Direct Payment requires the consumer to sign an authorization form for each company whose bill is to be paid electronically. This form authorizes the designated company to collect funds for the amount of the bill from the consumer's checking or savings account on the date specified. Most companies with fluctuating payments will send their customers a monthly statement 10 days prior to the date the customer's bank account will be debited. For fixed payments, the customer may be notified of the date and amount of the transaction prior to the first payment. The customer is provided information regarding the transaction on the monthly statement from their financial institution.
Direct Payments save time and money.
With Direct Payment the customer saves time not having to write and mail checks, and the cost of checks and postage are eliminated. No matter how hectic life gets, you know your bills are paid on time. Consumers can save over 50 hours a year, the amount of time estimated that a dual career family spends paying bills. Consumers also save on check printing costs because they use fewer checks. Telephone Bill Payment Telephone Bill Payment allows the consumer to pay bills by keying information into a touch-tone phone.