CheckFree Study Finds Bill Pay Popularity Rising

ATLANTA – Bill pay is becoming more mainstream. According to a just-released survey from CheckFree, 56% of U.S. households are paying at least one bill online and 87% of users who pay from a single “consolidated” Web site – such as a bank, credit union, or brokerage firm – receive bill pay service for free. The survey also found that more people are considering online banking and bill pay features when evaluating their financial relationships. Online banking and bill pay ranked third among top three factors in selecting a financial institution for personal accounts, behind “availability of free checking” and “reasonable fees and service charges.” Bill pay volume is also up considerably. The survey found bill payments increased 24% from June 2004 to March 2005.