Common Mistakes To Avoid When Using A Bill Payment App

*This is in paid partnership with Bajaj Finserv.

As bill payment apps become more popular, they make managing finances more convenient, efficient and secure. However, certain errors can creep in without careful use that might affect your finances and data privacy or even result in payment delays.

This article walks you through common mistakes to avoid when using a bill payment app, ensuring smoother, faster and safer transactions every time.

Ignoring App Updates

Ignoring updates can pose a serious risk. Many users skip updates on their payment apps without realising they often contain essential security patches and enhanced features. By not updating, you might be exposing your financial information to risks or miss out on app improvements that could simplify your online bill payment experience. Set your app settings to auto-update, or make it a habit to manually update regularly.

Using Unsecured Networks For Payments

Making payments while connected to a public or unsecured Wi-Fi network is a major mistake. Public networks can be breeding grounds for hackers, making it easier for them to access your payment data and personal information. Stick to private networks, or consider using your phone's mobile data instead. If using public Wi-Fi is necessary, use a Virtual Private Network (VPN) to secure your connection before accessing your payment app.

Overlooking Transaction History

Many people forget to check their transaction history, a habit that can lead to undetected errors or unauthorised charges. Review your transaction history on your payment app at least once a month to ensure all transactions are correct. This quick check can help you detect billing errors, double payments or fraudulent activity, saving you from potential financial loss.

Not Setting Up Payment Reminders

Forgetting due dates is another common mistake that can lead to late fees, penalties and sometimes even disruption in essential services. Many payment apps offer built-in reminders for upcoming due dates. Use these reminders to stay ahead of your bills or set alerts to notify you when a payment deadline is approaching. This simple step can save you from last-minute scrambles or costly fees.

Neglecting To Verify Payee Details

It's easy to set up a new payee, but mistakes during the setup can result in payments going to the wrong account. Always double-check the payee details like account number, service provider information and payment reference codes before hitting "send." Ensuring accuracy in these details minimises the risk of payment errors and saves time otherwise spent on rectifying mistaken transfers.

Using Weak Passwords

A weak password is a welcome invitation for hackers. Using simple, easy-to-guess passwords can compromise your account security. Make your password complex by combining upper and lower-case letters, numbers and symbols. Enable two-factor authentication (2FA) on your bill payment app if available. A strong password and 2FA work together to secure your account, adding an extra layer of protection to your online payment transactions.

Allowing Multiple Payment Attempts Without Checking

Sometimes, when a payment doesn't process immediately, it's tempting to click "pay" again. However, multiple payment attempts can lead to duplicate charges or even hold up the funds in pending status. When a payment fails, wait a few minutes and check your transaction history before attempting another transaction. Contact your bank or the app's customer service if the issue persists rather than retrying blindly.

Saving Sensitive Information On Shared Devices

While it's convenient to save login details on your device, this can become risky if you're using a shared or public device. Ensure you log out after every transaction and avoid saving passwords or other sensitive data on devices accessible to others. Alternatively, if you must use a shared device, consider enabling biometric security features like fingerprint or face recognition, which some payment apps offer for added safety.

Not Reviewing Monthly Bills

An often-overlooked but crucial step is reviewing your monthly bills carefully. Check for any discrepancies, unnecessary charges or missed credits. Many payment apps allow you to scan and compare previous bills, which is a helpful feature to ensure you aren't overpaying. By catching billing errors early, you can avoid unwarranted expenses and keep better track of your finances.

Not Exploring App Features Beyond Payments

Many users restrict themselves to basic payment functionality and miss out on valuable features such as budgeting tools, financial insights and transaction categorisation offered by some apps. These features can provide a comprehensive view of your spending habits, helping you make more informed financial decisions. Take time to explore the full functionality of your payment app and use it as a tool for better money management.

Final Thoughts

By keeping these common mistakes in mind and making a few adjustments in how you handle your bill payment app, you can make your online payment experience smoother and more secure.

Ready to simplify your online bill payment? Try the Bajaj Finserv Bill Payment App today for a fast, secure and efficient payment experience. Enjoy the convenience of on-time payments with added features to make your financial management easier than ever.