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IOU — and the “Check” is in Your Email!

My to-do list includes the following tasks:

  • Reimburse mom for groceries
  • Pay electric bill
  • Pay Bug (my sister… it’s an old nickname) for my part of cell phone bill
  • Give money to Matt for mowing lawn
  • Pay Gap VISA bill

Noticing a theme?  Almost every day, I make some kind of purchase.  Usually I can pay on the spot, like when I get gas or pick up the dry cleaning.  But there are times when the situation is a little different and maybe the payment isn’t due yet or I am left saying IOU.

When I started using an online Bill Pay service, I was surprised to see that it’s not just for paying bills.  I can send money to friends, family, coworkers… directly from my bank account to theirs.  I log into Bill Pay, select “Add a Person” and I follow the prompts that will result in an email to that person.  Then she will enter her banking information (which I will never see), and my Bill Pay will simply let me know that she is available to receive payments.  It’s that easy.  And the next time I owe her, I can just select her name, type in the amount, and hit send!  She does not need to lift a finger.

Recently, I went out to dinner with some coworkers.  Rather than being that annoying table who asks for six separate checks, one person paid for it all.  We didn’t panic about writing a check or finding an ATM to pay for our portions because we were able to use Bill Pay to reimburse our coworker for the exact amounts.  No hassle, no grumbling waiter, and no unpaid coworker.

I still use my Bill Pay for actual bills, like my Gap VISA and the electric bill.  But knowing that I can sit down and take care of five items on my to-do list at the same time is a beautiful thing.  Now if I can just find an electronic service that cleans bathrooms…

 

This guest blog post was written by Hollis, Sales Strategies Specialist in Susquehanna Bank’s Marketing Department.

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Posted in Banking Basics, Business Resources.

One Response to IOU — and the “Check” is in Your Email!

  1. Jennifer says:

    Would love to try this

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