Online Bill Pay:
The Better Way to Pay Electronically
Paying bills electronically can save you time and money, so it's no wonder that many Americans have made the switch. U.S. households paid an average of 4.4 monthly bills online last year, according to a MasterCard study, which makes 2005 the first year in which more Americans used automatic payments than checks to pay recurring bills.
But many consumers have discovered that automated payments set up through the merchant may cause more problems than they solve. Trouble canceling or altering recurring payments tops the list of consumer complaints. As a result, many experts advise using a financial institution's online bill pay program instead. Chaco Direct offers the same convenience as automated payments, plus it is easy to set up and lets you adjust, delete and add payments whenever you like.
Additional benefits of Chaco Direct include:
Greater control. When you want to cancel or change a recurring payment made through Chaco Direct, just log on and enter your request. By contrast, with automated payments, the rules for canceling payments can be far more complicated, and may require you to contact both the merchant and the bank or credit card company, often in writing. What's more, credit card companies cannot cancel recurring charges tied to a long-term agreement, such as a gym membership.
More security. Using Chaco Direct means fewer companies have access to your bank account or credit card information.
Streamlined bill payment. There's no need to jump from Web site to Web site to confirm existing payments or set up new ones. Chaco Direct lets you pay and track all of your monthly bills from one Web site, with one log-in and one password.
To learn more about Chaco Direct or to sign up, visit www.chacocu.org, call 513-785-3500 or stop by one our convenient service centers.
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