We all use paper everyday – to
write on, to draw on, to scribble on, to wrap fish in or to play wastebasket
basketball with. We also use paper for things like bank account statements and
billing statements. If you multiply that with the number of people in the
country that’s a lot of paper that’s being used up – and a lot of trees.
That’s also a lot of paper
records that you need to have and keep track of – not really an easy task for
many. But there’s a way to get rid of the paper and still get the same
information from your accounts and billers – online banking.
If you already have a Bank of
America bank account then you’re eligible to sign up for their online banking
service. Register using your ATM or debit card number, the PIN, your social
security number and a valid email address.
Once inside you can view all your
personal Bank of America accounts – savings, checking, money market accounts,
and certificates of deposits, credit card, lines of credit, mortgages and even
individual retirement accounts. This also includes all your out-of-state
accounts (except in Washington State and Idaho). You can also view your
business accounts although you will need to apply for another ID for that.
Eligible accounts automatically
get the electronic versions of their paper statements – just that you don’t
have to wait for it in the mail. You have the option of getting the electronic
statements while still receiving the paper statements through the mail.
But you can choose to opt out of
the paper statements altogether and just stick with the electronic versions.
Once you do that you will receive email notifications telling you when an
electronic statement is available for your perusal. You can either print them
out or download them to your computer for your records.
You have that same option when it
comes to your bills once you sign up to the optional bill pay service. Simply
add the billers that you already pay into your “pay to” list and opt to receive
their electronic bills instead of the paper bills. Like the electronic
statements, you will also receive an email notification once you get an e-bill.
To pay the bill simply click on
it, enter the amount you want to pay and set the payment schedule (hopefully 5
business days before the due date to give your biller time to process and
credit your account). Do take note than not all billers send e-bills – check
the list on the Bank of America Website.
With bill pay you can pay almost
anyone at anytime. You can even choose the account you want to pay it from –
your checkingBusiness Management Articles, your money market account or your
credit card. You can even set up recurring payments for your regular bills and
do schedule it up to a year in advance.
With online banking you not only
save the trees but you also give yourself the convenience and save time that
you would have spent writing checks and mailing them out.
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