Bill pay comparison — Banks vs. Prism

Searching for a bill pay system can be tricky. You’ll want to consider what aspects are important to you. There’s a variety of options, but the best system will make bills easy, fast, and help you avoid late fees. Some solutions like Mint specialize in budgeting, or offer bill pay exclusively, and a few provide a combination of features.

Prism is a free personal finance app that makes tracking and paying bills magical (seriously!) through automatic bill tracking, due date notifications, and easy bill pay.

Bank bill pay is often on people’s radar when they consider managing bills, and most banks offer some form of bill pay on their website or in their apps. If you’re wondering how bank bill pay compares to Prism as you weigh your options, here are a few things to consider.

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Will it help you track your bills?

Prism: Yep. Prism allows you to link all your bill accounts to the app for automatically up-to-date bills, so you never have to log in to your biller’s website to check due dates or totals.

  • All your bills are sorted into a list or calendar view so they’re all in one place.
  • You’ll automatically get a notification when a new bill gets posted, an alert if the bill is higher than normal, and reminders to pay the bill before the due date.
  • Prism has over 11,000 billers in its network, and more get added every month.

Banks: No. Most bank bill pay platforms won’t show you what you owe your biller, so it’s impossible to track your bills in their systems. That can be an OK option for a bill that never changes, but when it comes to bills like your water bill, or store credit card, you’re still need to log in to multiple sites, thumb through your mail, or scan your email inbox for bill statement totals.

  • No bill totals or due dates
  • No automatic notifications

Will it help you pay your bills?

Prism: Yep. Bill pay with Prism is free and paid same-day, and when you link your bank accounts and cards, you know which account to pay with at a glance.

  • Paying through Prism is the same as paying through your biller’s website, so if they don’t charge you for using a credit card or debit card, we won’t either.
  • Payments get sent to your biller in as little as 10 minutes.
  • Pay with any card or account you link in the app.
  • Prism exclusive payment options let you pay with your credit or debit cards, for a small fee, even if your biller doesn’t.
  • The Prism Payment Promise means we promise your bill be paid on time, or we’ll pay any late fees you incur!

Banks: Yep, with some caveats. Bank bill pay moves a little slower, but you can pay any bill as long as you have an account number and the bill total.

  • If you send a payment through bank bill pay it processes in one to three banking days (and the money is withdrawn immediately), so make sure you plan ahead!
  • You can only pay with a checking or savings account that you have through that bank.
  • You can pay any bill that you have an account number for, but you need to know that account number, know the due date, and have the statement amount handy.
  • Some banks charge fees for standard bill pay.

Explore what’s right for you

If you’re curious about bank bill pay, it might be worth checking out what features your personal bank offers. Or, download Prism and see why we’re the highest-rated bill pay app available! If you’ve got any questions or run into any troubles, we’ve got an amazing support team that’s ready to jump in. Just shoot us an email at info@prismmoney.com, reach out on Twitter or Facebook, or message us directly in the app.