5 Benefits of Automatic Bill Payments with Current Accounts

Posted on Thursday, December 28th, 2023 | By IndusInd Bank

In today’s rapidly evolving financial landscape, the seamless integration of technology has revolutionised the way businesses and individuals manage their financial transactions. One such innovation that has gained considerable momentum is the practice of automatic bill payments facilitated through current accounts.  

The integration of automatic bill payments within current accounts emerges as a game-changer. It is supported by a multitude of benefits. These encompass everything from elevated convenience and time-saving advantages to safeguarding against late fees and bolstering credit scores. Moreover, the enhanced security measures of digital current accounts mitigate the risks associated with fraud. 

Benefits of automatic bill payments using current accounts 

1. Simplified bill management with IndusInd Bank Current Accounts 

IndusInd Bank’s online platform gathers all your bills in a single location. This means you can easily oversee your payments, anticipate upcoming bills, and make adjustments effortlessly, all from the comfort of one user-friendly hub. This not only saves your valuable time but also relieves you of unnecessary complexity.  

It offers a streamlined and efficient approach to bill management. 

2. Time efficiency 

Envision a scenario where your customary bills — be it rent, utilities, or credit card dues — are seamlessly resolved every month, all without lifting a pen to write a cheque or experiencing the pressure of recalling due dates.  

You can experience the transformative power of automatic bill payments using IndusInd Bank Current Accounts and liberate yourself from these time-consuming routines. Timely bill payments ensure that essential services, like utilities or insurance, remain active. 

3. Safe transactions

Your financial security is paramount, and that is precisely why entrusting your bill payments to your current account cultivates a sense of tranquillity.

Banks have fortified their systems with cutting-edge security protocols. These defences involve sophisticated encryption techniques and fraud detection mechanisms, forming a protective barrier around your financial data.

These systems stand vigilant in case any potential concerns arise. The system proactively notifies you through alerts, ensuring you are always in the loop regarding the status of your transactions.

This layered security approach offered by IndusInd Bank provides you with the confidence to transact seamlessly and securely, knowing that your financial well-being is safeguarded.

4. Credit score enhancement 

Your bills are paid on time with an automatic payment system, which helps you maintain a good credit score. This is a reflection of your financial credibility, as late payments can have a negative effect on your credit history. 

It demonstrates your reliability in handling money and positions you as a responsible borrower. The credit score, often consulted by lenders, landlords, and even potential employers, takes note of your on-time payments. By configuring automatic payments through your current account, you craft a fail-proof strategy for consistency. 

5. Avoid late payment fees  

The integration of automatic bill payments within current accounts is revolutionary, as it helps prevent late fees. Since payments are made automatically, you are unlikely to incur late fees and penalties. 

How to set up automatic bill payment while paying bills online using a current account? 

1. Via NetBanking 

• It is essential to hold an active IndusInd Bank Current Account and have your NetBanking registration completed. 
• Once logged into your NetBanking account, locate the ‘Bill Pay’ section and choose the specific bill you intend to settle.  
• Enter the required biller details, like the name, account number, and payment amount. 
• Following this, configure an automated payment schedule as your preferred payment method.  
• Take a moment to review the entered details before finalising the payment. 
• Once you’re satisfied with the accuracy, go ahead and confirm the payment. You will receive confirmation of the transaction, and your bill will be paid.  
• Next time onwards, the online automatic bill payment option built into your IndusInd Bank Current Account ensures the prompt and secure settlement of all your bills on time. 

2. Via the IndusMobile app 

• Download the IndusMobile App and register your account. 
• Set your MPIN for an added layer of security. 
• Open the app and select the ‘Bill Payment’ option on the home page.  

Here, you will get two options:  

1. Register  

2. Instant Pay 

• To pay any bill instantly without registering, go to ‘Instant Pay’. Select the type of bill, enter the required details and pay your bill.  
• To set up automatic bill payments, select the ‘Add Biller’ option and choose the category for bill payment (water, gas, electricity, etc.). Next, select the company name and enter the required details for bill payment.  
• From the next time, the IndusMobile app will ensure that the selected bill amounts are settled automatically. 

Benefits of IndusInd Bank Current Accounts 

When you open an IndusInd Bank Current Account, you get access to a world of privileges: 

• Freedom to pick an account number of your choice via the MAMN (My Account My Number) facility 
• Premium doorstep banking facilities 
• Auto-sweep fixed deposits 
• Business debit cards 
• Trade and forex services 

Since IndusInd Bank offers the convenience of automatic online bill payment using a current account, digital billing statements contribute to environmental sustainability.  

Conclusion 

Automatic bill payment using a current bank account can simplify your financial matters. It reduces the risk of late payments and frees up your time from manual bill management. You can handle and manage your funds more effectively knowing that your essential bills will be paid automatically. 

Additionally, IndusInd Bank Current Accounts effortlessly combine digital ease with complex financial requirements. These accounts offer flexibility, accessibility and efficiency. 

Ready to experience seamless financial management? Open your IndusInd Bank Current Account today and unlock a world of convenience, security, and efficiency for all your financial transactions. Start managing your bills, payments, and more, with ease! 

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.