All of us at one time or another have paid a bill late, I know I have. When this happens, you just about always you get slapped with some sort of late fee and depending on the bill it might even hurt your credit. One great way to manage your bills is to use an online bill pay service. If you are a prepaid card user then your card might already offer an online bill to its cardmembers and if not then you could start using a card that does. If you need a card that offers the service then check out our article – 6 Prepaid Cards That Offer Online Bill Pay. Some prepaid cards charge a fee for the service and some don’t so make sure you check the details first. Here are four tips to help you avoid paying a bill late when using your prepaid online bill pay service.
- Money is deducted from your prepaid card account on the payment date you schedule. You have full control over your money until the payment date, which also means you should be careful not to spend the amount scheduled for payment.
- The payment date is the date the payment begins processing. It is NOT the date the service provider will receive the payment. As a result, you should schedule your payments at least four (4) business days before the bill’s are due to ensure that the payment arrives on time.
- Make sure your prepaid card account balance on the payment date covers the entire bill payment amount scheduled, or your payment will fail. Since your using a prepaid card, you will not be charged NSF or overdraft fees, but you will have to add money to your prepaid card account and reschedule the payment.
- If a payment fails because of insufficient funds, notify the payee immediately and make the necessary arrangements to reschedule payment. Your prepaid card company is not responsible for problems resulting from a failed payment. Also, always be sure to read the terms and conditions of service carefully for complete details about how your card works.
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