What are automatic payments?
Automatic payments provide a means for automatically scheduling payments in OnLine Bill Pay based on the options you select. You can set up two different types of automatic payments. Automatic Payments for Electronic Bills—If you receive electronic bills, some billers let you set up options for paying them automatically. You can decide whether to always pay the amount due or to set a limit on the amount for automatically paying the bill. You can also decide whether to make the payment on the due date or on the earliest date available after you receive the bill. Automatic Payment Schedules—You can set up an automatic payment schedule to pay bills of a set amount at regular intervals. For example, you can schedule a payment at the first of each month to pay your mortgage or rent. This type of automatic payment is always available to you, regardless of whether you receive electronic bills from the biller or whether the biller lets you pay your electronic bills automatically.
An automatic payment is a future scheduled payment for the same amount, such as a mortgage or car payment, that occurs at regular intervals. Automatic payments can be set for various frequencies such as weekly, monthly, and annually. Setting up automatic payments is a great way to save time and manage your money.
