Key takeaways Offered by many financial institutions, online bill pay is typically a free, secure service that enables consumers to make various types of payments electronically. Payments made via online bill pay can be made using a website or an app. Keep track of your account balance as you might inadvertently withdraw more funds than what’s available, resulting in overdraft fees. If you’re tired of writing and sending out checks for monthly expenses, enrolling in online bill pay might be a good ...