• 507 Followers
  • 1k Followers
  • (804) 739-9500
Back @ 8:30am Monday
  • Virginia Site Virgina
    • Switch to Texas Site Texas
Springer Insurance Logo Virginia
Learn
  • Insurance
  • Benefits

  • Subrogation
  • Medical Expense Payments
  • Underwriters
  • Jewelry, Watches, Guns and Furs

  • Types of Life Insurance
  • Primary vs Contingent Beneficiaries
  • When Can I sign Up for Health Insurance
  • Cash Value
  • Home
  • About

    The Agency

    • About Us
    • Our Agents
    • History
    • Contact
    • Careers
    • Designations

    Our Carriers

    • Auto-Owners
    • Nationwide
    • Safeco
    • Selective
    • Foremost
    • View All

    Our Locations

    College Station

    Midlothian

    Keysville

    South Hill
  • Insurance

    Flood Insurance

    Everyone lives in a flood zone.

    Flood Coverage

    Personal

    • Homeowners
    • Tenants
    • Automobile
    • Umbrella
    • Condo
    • Mobile Home
    • Collector Vehicles
    • Earthquake
    • Pet
    • Landlord

    Powersports

    • Motorcycle
    • PWC
    • Boat
    • Yacht
    • RV
    • eBike
    • UTV
    • ATV

    Business

    • General Liability
    • Business Property
    • Business Auto
    • Cyber
    • Workers Compensation
    • Businessowners
    • Bonds
    • Short Term Rental

    Benefits

    • Personal Life
    • Key Man Life
    • Group Benefits
    • Group Life

    Transport

    • Non-Emergency Medical
    • Trucking
    • Livery

    Farm

    • AgriChoice
    • Farm
    • Coverage Estimator
    • Property Assessments
    • DMV
  • Claims
  • Videos
  • Blog

    Newest Posts

    • Designated to Stand Out
    • Update Your Appraisals
    • Red Sky in the morning, Sailors Take Warning
    • Service Line Coverage

    Random Post

    • How Do Those Car Insurance Tracking Devices Work?
    • DRUG PRICING - What do you prefer? A dollar amount? Or, a percentage?
    • When to Change Your Car Battery
    • Black and White and Smiles all Over
    Our latest Flyer
Log In

Our Top Policies
Yacht Insurance
Yacht Insurance
Boat Insurance
Boat Insurance
PWC Insurance
PWC Insurance
Personal Life Insurance
Personal Life Insurance
Springer Insurance Logo

Concierge Insurance. From Start to Claim.

  • webmail@springeremail.com
  • (804) 739-9500
  • Home
  • About

    The Agency

    • About Us
    • Our Agents
    • History
    • Contact
    • Careers

    Our Carriers

    • Auto-Owners
    • Nationwide
    • Safeco
    • Selective
    • Foremost
    • View All

    Our Locations

    College Station

    Midlothian

    Keysville

    South Hill
  • Insurance

    Policy Builder

    Build your perfect insurance package!

    Personal

    • Homeowners
    • Tenants
    • Automobile
    • Umbrella
    • Condo
    • Mobile Home
    • Collector Vehicles
    • Earthquake
    • Pet
    • Landlord

    Powersports

    • Motorcycle
    • PWC
    • Boat
    • Yacht
    • RV
    • eBike
    • UTV
    • ATV

    Business

    • General Liability
    • Business Property
    • Business Auto
    • Cyber
    • Workers Compensation
    • Businessowners
    • Bonds
    • Short Term Rental

    Benefits

    • Personal Life
    • Key Man Life
    • Group Benefits
    • Group Life

    Transport

    • Non-Emergency Medical
    • Trucking
    • Livery

    Farm

    • AgriChoice
    • Farm
    • Coverage Estimator
    • Property Assessments
    • DMV
  • Claims
  • Videos
  • Blog

    View All Blogs

    Newest Posts

    • Designated to Stand Out
    • Update Your Appraisals
    • Red Sky in the morning, Sailors Take Warning
    • Service Line Coverage

    Random Post

    • How Do Those Car Insurance Tracking Devices Work?
    • DRUG PRICING - What do you prefer? A dollar amount? Or, a percentage?
    • When to Change Your Car Battery
    • Black and White and Smiles all Over
    Our latest Flyer
Log In
Socials
Just a simple gradient
  • Author photo Peggy Claytor
    Peggy Claytor in Interesting | 1431 Reads
  • 06/10/2024

Automatic Bill Payments: Pros and Cons

From Nerd Wallet

Automatic payments have some great advantages, just know all the details before you sign up!

A Go Kart speeds by, probably paid for by saving those installment fees
A Go Kart speeds by, probably paid for by saving those installment fees

Save time and Money!

Peggy Claytor

PROS:
It's convenient. Instead of visiting several different websites or fielding mailed invoices at various times during the month, you can automate the bill-paying process. If you do this through your bank, your bills can be organized and viewed in one place. And some companies will email to let you know they are about to take a payment. In a sense, instead of you going to them, they come to you.

It can improve your credit score. Your payment history is the single biggest component of your credit score, and FICO reports that negative marks on your credit history can fade over time when you are consistent with payments. With automatic bill pay, you can keep on time and avoid delinquency.

It's secure. Data breaches make headlines, but online banking is no less secure than leaving a check in an envelope in an unguarded mailbox. In fact, your accounts may be better protected through the encryption techniques that banks use online to secure customers' information.

Cons:
You risk overdraft fees ... Some payments fluctuate in amount, and if you’re not careful, your account may be overdrawn. Overdraft fees vary by institution, but the median is $34. Keep tabs on your bank account and have enough in there to cover all your automatic payments.

... and late fees. Even though it’s called "automatic,” a payment still takes time to process and reach a merchant or service provider. Confirm how long it takes for payments to arrive so you can set payment dates accordingly and avoid late charges.

They might make a costly mistake. What if your phone company accidentally withdraws your monthly payment twice? Or your cable provider adds a zero to your balance and takes out $850 instead of $85? Such mistakes, while rare, can happen, and redressing them takes time and effort.

#173
Share on Facebook

Please visit the original Blog Post from Nerd Wallet

Related Posts

Similar Post

Red Sky int he morning new Chesterfield Towne Center
Red Sky in the morning, Sailors Take Warning
Read Article
Flooding at Smithfield Station in Smithfield Virginia
Safety Tips for the Rainy Season
Read Article
Chris is looking into the wind and pointing to the eye of the storm with his right arm
Where is the Hurricane
Read Article

Springer Insurance Logo

From Start to Claim.

Connect With Us
Useful Links
  • Claims
  • Client Center
  • Quotes
  • Videos
  • About Us
  • Privacy policy
Our Company
  • Contact Us
  • Our Agents
  • Blog
  • Companies
  • Products
Get Contact
  • Phone: (804) 739-9500
  • E-mail: webmail@springeremail.com
  • Home Office: 5925 Harbour Park Dr, Midlothian, VA 23112
  • Top Car Insurance in VaTop Homeowners Insurance in Va

Copyright © 1985 - 2025 Springer, Inc. All Rights Reserved
Springer Insurance is an Elite Nationwide Insurance Independant Agency
Specializing in Homeowners Insurance, Automobile Insurance and Umbrella Liability Insurance in Virginia.

  • Terms of service
  • Privacy policy
  • Claims
  • Client Center
  • Sitemap
This website uses cookies to ensure you get the best experience on our website.