The award-winning, free, online home budget management service Mvelopes today announced the launch of a new Mobile Bill Pay service for its iPhone, iPod touch and iPad apps that makes it fast and easy to instantly pay bills and manage your family's budget while on the go.
Unlike typical bill pay solutions provided by most financial institutions, Mvelopes Mobile Bill Pay enables users to pay bills from multiple accounts—even those held at different banks. And, it's the only household budgeting app that lets users transfer money from one bank to another, quickly and easily. With Mobile Bill Pay integrated with Mvelopes' budgeting features, payments and transfers are automatically tracked and forecast for future payment to help users stay organized and on budget.
"Many Americans bank at more than one financial institution, and for various reasons, want or need to pay bills and handle other household expenses from different accounts," said David N. Smith, director of marketing with Finicity Corporation, developer of the Mvelopes platform. "Our bill pay system lets you manage all of your payment and budgeting needs in a single, easy-to-use dashboard, eliminating bank-to-bank transfer fees or the need to run out, physically withdraw money from one bank and deposit it in the other."
With the new Mvelopes mobile bill pay, you can immediately schedule a bill payment for as early as the next business day right from your phone, from anywhere and from any of your accounts. "It's perfect for those times when you realize you forgot to pay something while at your child's sporting event or out running errands," Smith added. "Besides paying bills, it's also ideal for setting up an automatic savings plan between two accounts, which is something everyone should do."
'Envelope Budgeting' for the Digital Age
The new Mobile Bill Pay feature integrates seamlessly with the Mvelopes online budgeting and money management solution that uses tried-and-true "envelope budgeting" principles to help users reduce debt, save for the future and achieve financial freedom.
"Where other money management tools simply track historical spending, Mvelopes actually helps users proactively take control of their finances by setting aside money for the future and living within their means without reliance on credit," Smith said. "This is especially helpful when those inevitable 'unexpected' expenses come up—like emergency car or home repairs—that we all know aren't really that unexpected."
Over the past decade, hundreds of thousands of consumers have transformed their financial situation and gained valuable peace of mind for their family's financial security with Mvelopes. In fact, Mvelopes users have reported that, on average, the solution has helped them eliminate $9,000 in debt, save $15,000 and see their checking account balance grow by $5,000 in just the first 18 months of use. And, because Mvelopes goes where you go, it's fast and easy to consult the family budget before making a purchase decision.
Featuring iron-clad, bank-level security with enhanced mobile security features, Mvelopes Mobile Bill Pay access requires both password and PIN, and each mobile device must be manually authorized with the Mvelopes account to prevent unauthorized access. Mobile devices can be instantly de-authorized in the event the device is lost or stolen. For a full description of the other security features in place to ensure the safety of all member data, check out the Mvelopes blog.
Financial Coaching and Support Available
The new Mobile Bill Pay Service is now available on the Mvelopes Premium plan that costs just $9.95 per month. Up to 15 payments per month are included, along with free, dedicated 24/7 chat support service for any customer service, technical or financial question. Premium users also have access to dedicated financial coaching—their own personal trainer to help meet their financial goals—with customized plans to meet any need. The Mvelopes Free service includes budgeting tools and financial institution integration, plus online forum and customer service chat support.