This is the second month I have used BillPay through my bank! It is AWESOME! I don't know if everyone's banks have this or not...but let me tell you the benefits I see in it.
First of all...for those of us who procrastinate when it is a written bill (paper check) that you mail...this service is totally for us. You go into your bank account...and follow the instructions...and even if your company doesn't accept electronic payments...you can still set it up and your bank (using BillPay somehow) prints out the paper check and Mails it when you tell them to when you plug in the payment information.
Of course, if you pay electronically...BillPay does that too. I enjoy the service because it is inside my online banking page as a tab. It is great also because you can set up 50 or so payments...schedule the pay dates and amounts. You can set them as one time payments or recurring. Once all that is set up...log in once or so a month and press a button and what account you want the payments to come out of! Very cool!
I have one bill that, for whatever reason, doesn't have online payments but through BillPay and my bank will take Electronic payments..this keeps me from worrying everyone month to write out the payment and put a stamp on it and mail it.
I just thought I would share my experience with BillPay. Very pleased.
Oh yeah...one extra note:
My friend has been using this service longer than myself and she said she had one paper payment where they print out the check and mail it...and for some reason the check was unreadable due to the printing. The place that the payment was sent to sent it back and charged a late fee. BillPay PAID the late fee and sent another check and it didn't affect my friend at all and she didn't pay the late fee or anything. Awesome! They handled it all.