Union recently introduced its WebBillPay service as an addition to its other online financial services.
For $5.95 a month, members can sign up to pay up to 12 bills online for each month. Regular monthly bills of the same amount can be paid automatically, and bills with varying amounts from month to month can be paid with five days of notice online.
The service will be offered for free to members during an introductory period that continues through Sept. 30 of this year.
“Members have been able to make online loan and credit card payments to their Santel accounts, but this service allows them to pay their cable, phone, car insurance or even the baby sitter,” said Marla Shepard, CEO of Santel Federal Credit Union.
“Funds can be transferred just a few days before the payment is due, which allows members to keep cash in their account to earn interest.”
Shepard said the bank has implemented safeguards, such as the latest firewall technology and an encryption code to protect others from accessing the members’ accounts. Also, Shepard said customers cannot use the online program to transfer funds from their account to someone else’s account.
“A better understanding about the security and confidentiality of the Internet has increased the popularity of making financial transactions online, including paying bills,” Shepard said. “People are becoming far more comfortable with it.”
