Believe it or not, there are many people that pay their bills through third-party payers. These financial brokers, such as check-cashing businesses, can be found in many major cities. At these places, you have the opportunity to send money to designated persons, or pay your utility bills. Of course, you do have to pay a convenience fee in order to take advantage of this. In the grand scheme of things, these type of places play a role for those that are not tech-savvy, and that need to perform payment transactions.
Of course, now that practically EVERYONE has either a computer, laptop, or phone, people should get into the habit of paying their bills, online. Doing so will save everyone an inconvenient trip, save on convenience fees, and the transaction is bound to be more secure.
Yes! The act of going to a physical location to pay a bill is very inconvenient. Just think of the many commuters who have to work a 9-to-5 job, and then have to make a stop at a payment location because their bill is due. Well, this deviation will, most likely, eat a big chunk of anybody’s resting time.
I do not know how anybody else feels about this, but I hate paying so-called “convenience” fees. These extra charges are due because you would be paying for the convenience of having a brick-and-mortar location, and having the opportunity to interact with a live person. As nice as that may sound, convenience fees can, and do, add up. Before you know it, you may find that these fees are eating a big chunk of your budget.
As far as security of a third-party payer is concerned, I will not dwell on whether they are using the best technology or the best encryption in order to transmit data and pay your bills. Rather, I will question the wisdom of passing along sensitive information to perfect strangers. After all, with so many reports of identity theft, should we not be more proactive in not distributing our documents in the wild?!
The three reasons for not using a third-party payer may be debatable. Some will present counter-arguments, and give interesting opinions on why to use them. Be that as it may, I hope that you choose wisely in whom you trust with your personal documents.