Bill Pay with PayActiv: Avoid Late Fees and Overdraft Fees
PayActiv’s access to earned wages and bill pay services are the perfect solution for working people who struggle to meet payment deadlines of services like phone bills, utility bills, or credit card bills.
The general perception is that if you are paying late fees on your bills then you must be either careless and need reminders so you don’t miss the payment deadline, or that you are spending more than you can afford. When in fact millions of working people pay a late payment penalty on phone bills and utility bills because they are waiting for payday, for them it’s an issue of timing.
Nearly 1 in 4 US adults admit they are unable to pay all of their bills on time. With 50% millennials living paycheck to paycheck paying bills on time is major struggle for them, 25% of millennials say they get help from their parents just to pay their phone bills. If they can’t borrow from family then their options are to pay late fees or an overdraft fees, ranging from $25 to $40, to buy time until their next paycheck.
PayActiv is a new financial wellness service that employers can give to their employees. It saves money for employees and helps businesses in recruitment and retention.
How Does PayActiv Bill Pay Work?
- If you don’t have enough to pay a bill on time then you can withdraw cash from your already earned wages using PayActiv Cash Access. Depending on your employer's contribution, the fee to access earned wages is between $0 and $5.
- You can also do electronic bill payment using PayActiv Bill Pay feature at no additional cost, provided the biller supports electronic payments.
- The app allows you to schedule bill payments 5 days in advance, which means you can count on it to pay your bill after you have set up the payment schedule and transaction.
- You can access these services from the PayActiv app on your mobile phone, PayActiv website from a browser or from PayActiv kiosk (at select locations).
- No more late fees when you can pay bills on time with PayActiv. Instead, you can relax and focus on your work.