Is Online Bill Pay Safe?

You love the idea of paying bills automatically through your banking app. All it takes is a few clicks to set up bill pay and you’re done—no more keeping track each month.

 

But what about security? The best way to protect yourself is to use the bill pay service offered through your financial institution. If your bank or credit union doesn’t offer this service, you may choose to use an independent service.

 

Because scammers have become more sophisticated by misleading consumers into sharing sensitive information under the guise of paying a bill, Mountain America Credit Union is committed to educating our members, as well as the public, on ways to keep their money safe. That’s why we put together this list of tips to safely pay bills online:

 

Never respond to a bill pay service that contacts you directly—In those situations, it's difficult to verify the authenticity of the link. If you’re interested in the service, search for the company online and contact them directly.

 

Don't pay from a link in an email—Go to the website directly by typing the web address into the browser.

 

Set up alerts on your checking account—This will help you keep on top of what’s being paid and when. Get notifications every time something is charged to your bank account.

 

Don't share information by email—Email is one of the least secure forms of communication. Reputable services will never request sensitive information via this platform.

 

Read the privacy policy—Read the bill pay services fine print. It should mention strong data encryption and other protection measures.

 

Don't save your password in the system—If the site offers to save your password, bypass the offer and enter it manually each time. This may be less convenient but it is certainly more secure.

 

Set up security questions—This additional layer of security may slow you down, but it can be the difference between a secure account and a breached account.

 

Log out—Always log out of your account after you've paid your bills so no one can access your information. This is especially important when using public computers.

 

Automatic payments can save a lot of time. However, that doesn’t mean you should just set it and forget it—use financial budgeting tools like a money tracker. By following these important safety measures, paying your bills online is a convenient and money-saving way to take care of your payments!

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