It's a simple way of planning your bill payments. It allows you to pay the amount you want, when you want.
Q. How does it work?
You decide how much you're going to pay and how often you're going to pay it. For instance, you could arrange to pay $100 on your hydro bill every month.
Q.Why else should I use this?
Recurring payments are especially helpful for steep bills that arrive bi-monthly, quarterly, semi-annually or annually. For example, let's say you have an annual property tax bill of $3000. Instead of paying a big bill once a year, you could use recurring payments to pay $250 every month for 12 months. Plus recurring payments offers other benefits too:
Set it up in minutes
Only takes a few steps
Choose your payment amount
Decide on a payment schedule
Stop and start payments as you wish
Cancel payments anytime
Control the amount of money that leaves your account