Bill Pay is an online service that allows you to receive and pay eBills (electronic bills) from participating billers, pay one-time and automatic bills, review payment history, and set up bill reminders. Since you no longer have to write checks or pay for postage stamps, Bill Pay saves you time and money.
For Fidelity customers, there is no charge or fee associated with Bill Pay.
To establish a Bill Pay account, you must have a Fidelity non-retirement brokerage account (with an individual, joint, estate, or trust registration), a health savings account (HSA), or a 529 college savings account.
Note: Portfolio Advisory Services accounts are not eligible.
To establish a Bill Pay account, go to Bill PayLog In Required under Accounts & Trade in the main navigation of Fidelity.com. Then follow the instructions.
To contact us regarding Bill Pay enrollment, call a representative at 800-343-3548. Representatives are available to answer your questions 7 days a week, 24 hours a day.
In order to be used to pay bills using Bill Pay, an account must meet certain requirements. If you have an account at Fidelity that does not meet these qualifications, you won't see it under your Account selector. Here's a list of requirements an account must meet:
- An account must be a brokerage account or cash management account.
- An account must be a taxable registration. No IRAs or other account types may be used.
- An account can be an individual, joint, or trust account.
- 529 college savings and health savings accounts can be used, but bear in mind that certain restrictions apply regarding the expenses they can be used to pay.
- Managed accounts and managed account services, such as Fidelity® Go, Fidelity® Personalized Planning and Advice, Fidelity® Wealth Services, or Fidelity® Strategic Disciplines are not eligible for the Bill Pay service.
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Now, let's delve into the concepts presented in the article about Fidelity's Bill Pay service:
1. Bill Pay Overview:
- Definition: Bill Pay is an online service facilitating the receipt and payment of eBills from participating billers. Users can manage one-time and automatic payments, review payment history, and set up bill reminders.
- Benefits: The service saves time and money by eliminating the need for writing checks or purchasing postage stamps.
2. Fee Structure:
- No Charges for Fidelity Customers: The article specifies that Fidelity customers incur no charges or fees associated with using Bill Pay.
3. Requirements for Bill Pay Account:
- Eligible Accounts: To establish a Bill Pay account, individuals must have a Fidelity non-retirement brokerage account, health savings account (HSA), or a 529 college savings account. Note that Portfolio Advisory Services accounts are not eligible.
4. Establishing a Bill Pay Account:
- Procedure: Users can establish a Bill Pay account by navigating to "Bill Pay" under "Accounts & Trade" on Fidelity.com. The article suggests following the provided instructions for account setup.
5. Customer Support:
- Contact Information: Users seeking assistance with Bill Pay enrollment can contact Fidelity representatives at 800-343-3548. Support is available 7 days a week, 24 hours a day.
6. Account Eligibility Criteria:
- Brokerage or Cash Management Accounts: To be eligible for Bill Pay, an account must be a brokerage or cash management account.
- Taxable Registration: Only accounts with taxable registration qualify; IRAs and other account types are not eligible.
- Account Types: Eligible accounts include individual, joint, or trust accounts. 529 college savings and health savings accounts are also eligible, with certain restrictions.
7. Ineligibility of Managed Accounts:
- Excluded Services: Managed accounts and related services like Fidelity® Go, Fidelity® Personalized Planning and Advice, Fidelity® Wealth Services, or Fidelity® Strategic Disciplines are explicitly stated as not eligible for the Bill Pay service.
In conclusion, the Bill Pay service provided by Fidelity is a convenient and fee-free option for managing electronic bills, and eligibility criteria ensure that specific account types align with the service's functionality. If you have further inquiries or need assistance, Fidelity's customer support is available around the clock.
