Autopay means automatic withdrawals from your bank account to pay your bills. It’s a very convenient service but it has its pros and cons too.
Pros of Autopay
- Bills are automatically paid on time and so there are no late payments.
- Timely payment of bills means no late fee charges.
- You don’t have to write any checks or wait in queues to submit the bills.
- It saves time and is convenient.
- You don’t have to worry about paying the bills or remembering the due dates.
Cons of Autopay
- You don’t check the bills for undue charges, if there are any and you might end up paying more.
- You lose track of how much you are paying.
But all said and done, autopay is a convenient facility but at the same time, you should periodically check your bills too.