In order to make a payment by phone, the financial institution must accept payments by phone, says Financial Web. If the company does accept phone payments, simply look on the billing statement for their toll-free number and follow the steps provided during the call.
Many phone payment systems are fully automated but be aware that when a payment is made by phone, speaking with a customer service representative may incur a processing fee, states AT&T. Make sure before the call is made that basic information like account numbers are ready. Credit card or banking information, such as routing and checking account numbers, may be needed, and verification of identity with address, social security number or other information is often required, states FedLoan Servicing. Some financial institutions also allow payments by smartphone and online, which is often easier and saves time and money.
After the payment is made, it is usually posted to the bank or credit card account the same or following business day, according to Financial Web. During the call, it is a good idea to write down the payment verification number given by the representative or automated system in case something goes wrong or there is a query about the payment.