Varo Money Alternative, Zil offers a free online checking account to pay bills and rent, or vendors and suppliers easily and instantly. The platform offers businesses and individuals affordable, secure, and flexible payment options.
Paying bills is one of the basic transactions that everyone does in their daily life. According to a survey, Americans pay over 15 billion bills yearly, totaling nearly $5 trillion in value.
Businesses and individuals may prefer to pay bills through their checking account rather than a credit card. Most recipients do not accept credit cards due to additional charges. Studies also show that consumers like digital payments for speed and flexibility. Among online payments, 26% prefer paying by mobile phone, and 17% prefer recurring payments.
However, paying through your traditional checking account can sometimes be risky due to security and technical issues. With online checking accounts, the problem can be solved. An online checking account helps you to pay your bills digitally without relying on other payment methods.
What Is An Online Checking Account?
Online checking accounts are primarily managed through the internet with a computer or mobile device. Customers and businesses can eliminate the need to wait in long queues in a physical branch.
Zil offers an online checking account feature for B2B transactions without monthly charges and maintenance fees. You can enjoy easy bills, vendors, suppliers, and rent payments without trouble. With the feature, you can effortlessly access your funds anywhere, anytime, without restrictions.
Benefits Of Zil’s Online Checking Accounts
With several benefits and facilities, Zil has become the best option for opening an online checking account for your financial transactions.
No Minimum Balance Requirements:
Usually, every checking account demands a specific minimum balance. It can be difficult for small businesses to preserve a minimum balance when they have to pay bills and other expenses frequently.
The platform offers an online free checking account without additional fees or requirements. You can instantly and easily open an online checking account without worrying about the monthly maintenance charge. It helps you save your hard-earned money without losing it to unwanted charges. Also, no initial deposit is required to start a checking account with the software.
Affordable And Secure Transactions:
You have bills to pay regularly if you are a small business owner or a large corporation. In such cases, you cannot make payment due to high transaction fees. The transaction fee may alone eat up all your profit, which is a huge loss for the company.
Zil allows you to make transactions at affordable rates with robust security. Safe transactions are one of the most important factors every business should consider while having a checking account. With encryption and multifactor authentication features, your financial transactions are completely protected through the platform.
Flexible Payment Options:
Zil allows you to make payments using different payment methods. Suppose your business needs to pay multiple vendors; some require wire transfers, while others accept ACH payments. In these cases, you can handle all these payments smoothly from a single platform. The software offers instant wire transfers, same-day ACH, and transfers between Zil accounts for user-friendliness.
Virtual Card To Manage Business Budget
If your employees are handling bills and rent payments, you must allot money. But you don’t want them to have your business bank account. Virtual cards can help you to resolve the issue.
Zil offers a virtual card feature for online and contactless payments. They are the digital version of physical debit cards. It provides a unique card number, expiration date, and CVV, where your debit card details are completely safe. You can generate unlimited one-time usable virtual cards with spending limits. You can give them to employees and have strong control over your business budget.
Checking Or Saving Account For Bill Payments?
Checking Account
A checking account is designed for everyday transaction purposes. It offers easy access to your money through checks and online transfers, with no limits on the number of transactions. Zil’s online checking accounts have features like direct deposit, online bill pay, and no extra charges, making them ideal for managing daily financial needs.
Savings Account
A savings account is intended for storing money and earning interest over time. It encourages saving by offering higher interest rates with a limited number of monthly withdrawals. Savings accounts are better suited for accumulating funds for future goals or emergencies than regular spending.
A checking account is a better choice when comparing checking and savings accounts for bill payments. With flexible payment options, cost-effective transaction rates, and unlimited transactions, Zil makes your financial transactions easier and simpler.
Conclusion
Your business and individual bill payments are effortless and efficient through Zil’s online checking account. No more worrying about minimum balances or hidden fees. Say bye to the hassle of balancing multiple payment methods. With simplicity, security, and affordability, you can make financial transactions stress-free.
