With an increasing number of consumers paying bills online at their bank or credit union website, the option to receive their bill at the same site is an added convenience. E-bills contain all the same information as traditional paper bills, are delivered directly to the online banking site and are stored there for 12 months or longer. Consumers who receive e-bills at their financial institution can view and pay all their bills in one place, alongside all their day-to-day financial information.
"Our customers are increasingly relying on electronic billing and payment because it is fast, convenient and helps eliminate the clutter of paper-based statements," said Jeff Martin, director, billing and systems at National Grid. "Delivering bills to financial institution sites is an important complement to our existing billing capabilities, and helps enhance customer satisfaction."
National Grid customers will be able to receive e-bills at any of the financial institutions in the extensive Fiserv network including leading banks in National Grid"s footprint across Massachusetts, New Hampshire, New York and Rhode Island. With e-Bill Distribution, National Grid customers will be able to review their bill online, select the payment date of their choice and take advantage of helpful features such as e-mail due-date reminders.
According to the 2010 Billing Household Survey by Fiserv, customers who receive e-bills have an overall customer satisfaction score that is significantly higher than the average paper billing customer. Thirty-seven percent of consumers who receive e-bills at a financial institution site say e-bills have improved their relationship with the biller.
"National Grid shares our vision to deliver bills to consumers at their preferred payment point," said Jardon Bouska, president, Biller Solutions, Fiserv. "Now that National Grid has joined the Fiserv network of more than 400 billers, they can provide added convenience to customers who choose to view and pay their bills at their financial institution website."
Consumer Benefits of E-Billing
Online billing and payment offers consumers many key benefits, including:
- Convenience and Control: Consumers can review each bill and schedule the date they want to pay or automate the scheduling of bill payments.
- Organization and Reduced Clutter: According to Fiserv research, 64 percent of consumers have lost a paper bill in their home. By receiving bills online, consumer can eliminate misplaced bills and paper clutter.
- Security and Peace of Mind: Receiving and paying bills online removes sensitive financial records from unsecured mailboxes, helping protect against identity theft.
- Environment: According to a report by Javelin Strategy & Research, if all U.S. homes received and paid bills online, it would save more than 800,000 tons of waste and 16.5 million trees each year, in addition to reducing toxins in the air.