Why Do More and More Consumers Enroll on Recurring Payment Plans?

by - Friday, January 18, 2013

In these modern times of fast paced lifestyle, most of us find the need to fit as much activities and planning within each 24-hour period.  We multi-task just to finish all scheduled activities and chores in time while making sure that there are still enough hours left to enjoy with our loved ones.  With tons and tons of things in mind, there are instances when we forget to pay one or two bills each month which is such a headache by the time we remember them.  Believe me.  You don’t want to miss the due dates!
Why do more and more people enroll on recurring payment plans?  What are the benefits of recurring payment methods?

For a more simplified payment experience

With recurring payment plans, your payment experience has never been this simplified.  Whether you’ve signed up for a monthly or a quarterly recurring payment plan for your car credit, student loan, mobile phone statement or your Netflix monthly charge, you’re at ease that you’ll receive your bills early as always.

Lowered cost due to paperless billing

When I wasn’t yet aware of recurring payment and its advantages, I used to pay 59 SEK [Swedish crowns] more each bill which is equivalent to around $9.25.  The extra fee covers paper, printing, manpower and postage.  With paperless billing, my boyfriend and I are able to save so much more each month.  It’s eco-friendly, too!

Goodbye late payments.  Goodbye overdue fines!

Because it’s automatic bill pay, you don’t just receive your bills early.  You’re also guaranteed that your payments will be received on time.  No more forgotten bills.  No more late payments.  No more overdue fines!

Save time

With automated electronic payments, you can now skip going through your paper bills one by one, typing down invoice numbers, adding messages, checking and rechecking just to make sure that everything’s perfect.  Instead, with e-billing, in just a couple of clicks, you’re done.  Now you have more time to focus on more important matters of life.  Say, spend some quality time with your kids!

How about you?  Have you tried signing up for recurring payment methods?  If so, which monthly bills have you enrolled in?  Are you feeling and enjoying the benefits so far?

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