How to Make Automatic Payments From a Savings Account

How to Make Automatic Payments From a Savings Account. You can save a tremendous amount of time by making automatic payments from your savings accounts. The time it takes to write a check, seal it in an envelope, stick a stamp on it and take it to the post office can be eliminated by automatic payments. Set a couple of hours aside this week and follow a few steps to make bill paying less time consuming.

Look over your most current bank statement. Find all the check payments you make each month, and look through past statements to find each monthly payment you make, including credit cards, car notes and insurance premiums.

Go online and visit your bank's secured website. Find the link for automatic payments from savings. The link could also say "bill pay" or "pay your bills." Click on the link and follow the instructions to make automatic payments from your savings account.

List out all your bills. Start listing bills like gas and electricity, cable service, water and sewer, home phone, cell phone, internet service provider, transfers for investments, insurance, gym memberships, loan payments, security system and mortgage.

Enter the information required to make automatic payments from your savings account. Take your time and make sure you enter all the data accurately. Continue until all the bills and investments are entered.

Tips

  • When you enter the information on the payee for the automatic payments from your savings account, you will need your account number with the payee, the payee's address, the payment amount and date the payment is due.

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