What Are Online Account Access and Online Bill Payment? - dummies

What Are Online Account Access and Online Bill Payment?

By Stephen L. Nelson

Online services allow you to connect your computer and Quicken 2013 to your bank’s computer electronically through your Internet connection. You may think that doing so sounds scary, but Online Account Access and Online Bill Payment provide some very neat benefits:

  • With Online Bill Payment, you can tell your bank or (in a pinch) the Intuit online financial services unit to make payments to specific individuals or businesses. In other words, rather than providing all this information in the usual way (on checks), you send the same information — the payees’ names, their addresses, the amounts, and so on — and then the bank writes the checks.

    You can tell the bank to make automatic recurring payments for bills that you pay on a regular basis, such as a rent or mortgage payment. You can use Online Bill Payment at any bank.

  • With Online Account Access, you can get transaction information — such as information about which checks and deposits cleared your account and what bank service fees you’ve been charged — from the bank’s computer. You can also transfer money between accounts — such as from your savings account to your checking account and from your checking account to your credit card account (to pay a credit card bill).

    To use Quicken for Online Account Access, your bank must support the Quicken Online Account Access service.