In today’s digital age, managing finances efficiently and safely is crucial. With the risk of fraudsters and scams, we are all looking for ways to be safer. While most people think of Online Bill Pay as a solution of convenience, it also has security benefits that many may overlook. Here are five ways using Online Bill Pay makes your finances a little bit safer.

1. Enhanced Security Measures

To set up Online Bill Pay, most providers, including Cadence Bank, will ask you to enroll in multi-factor authentication (MFA). This provides an extra layer of security to help prevent unauthorized access to your account, even if someone manages to steal your login and password.

2. Encryption

When you make transactions through an online bill pay service, your payment information is encrypted end-to-end. This means that even if somehow the data being transmitted through computer networks gets intercepted, the data will remain unreadable to unauthorized parties.

3. Reduced Risk of Human Error

By scheduling automated recurring payments, you will spend less time logging in to pay bills. Fewer times you use a browser or visit a website means fewer opportunities to accidentally land on a cloned “dummy” website or phishing website pretending to be your real online portal. Recurring payments, once set up correctly, don’t typically have to be changed indefinitely, leaving less room for human errors.

4. Convenient Access to Records

Let’s say you find a suspicious transaction in your account activity that raises red flags. With Online Bill Pay, you maintain a digital record of your payments. You can easily confirm or access past transactions. If there is a suspicious transaction, you have proof of payment or proof of transactions available to help investigate or resolve any disputes at your fingertips.

With more speed, security, convenience and less paper waste, Online Bill Pay is the safer, more eco-friendly way to manage your bills. By taking advantage of these features, you can enjoy security and additional peace of mind while handling your finances.

Online Bill Pay is one of many great features of Cadence Bank’s Online and Mobile Banking Experience.

If you haven’t enrolled in Online Banking, what are you waiting for? Sign up today!

Sources:

https://www.cnbc.com/select/safest-payment-methods/

https://www.forbes.com/advisor/banking/how-to-protect-your-online-banking-information/