You give your account information for each creditor to your bank, and the bank automatically pays the bills each month from an account you designate. The first option, online bill pay, is set up through your bank. You have two options with automatic/recurring payments from your bank account: online bill pay and automated debit transactions. How Automatic Bill Payments Work Automatic Bill Payments Through Your Bank In this article, we’ll look at how automatic bill paying works and discuss what Clark does (and does not) want you to do when you set up your payment system. Money expert Clark Howard loves the convenience of automatic payments but has one big warning about them.
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