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Doxo prevents e-payment surprise

By David McMillin · Bankrate.com
Saturday, November 5, 2011
Posted: 12 pm ET

While you may already be conducting some of your banking online, one company is hoping to help you do, well, pretty much everything without signing, sending or storing a single piece of paper.

Today, Doxo, a digital file storage and e-payment company, announced additional features for its doxoPAY function that give users more control over scheduled automatic payments. If you're unfamiliar with Doxo, the service is designed to make managing your bills and documents easy. With a Doxo account, you can:

  • Receive and store documents.
  • Sync your checking account and pay bills.
  • Use one password and one source rather than logging into all of your service providers' websites.

The company's new payment features are unlike most traditional auto-pay services. With Doxo's new auto-pay tool, users can set limits on their payments, which can prove to be an especially valuable tool. For example, rather than be surprised by a higher-than-normal cellphone bill payment, Doxo will deduct your set standard monthly amount from your checking account and alert you of additional charges.

In addition to expanding its capabilities, Doxo is also expanding the number of companies who are utilizing its paperless payment services. If you're one of the nearly 100 million AT&T customers, you can now use Doxo to pay your monthly bill and store your payment records. Some of the companies you pay each month may not currently be registered with Doxo, but this service seems destined to grow as more companies steer their customers online.

While going completely paperless can be very convenient, it can also reduce your account awareness. There is something that makes me take extra notice of an envelope that arrives in the mail, but electronic notices never seem to carry as much weight. As members of the banking industry sneak in new bank fees to monthly account statements, we all need to be vigilant about reviewing charges and account notices whether they're on screen or on paper.

What do you think? Have you gone paperless yet? Or are you still receiving old-school statements in the mail and filing them away in your desk?

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