What is the best way to pay your bills online?

Paying bills through an online bank account is the best way to pay if control over the bill-paying process is the customer's primary concern. However, establishing automatic electronic funds transfers directly with creditors lets the bill payer pay regular bills on time with a one-time setup.

Other options for online bill payment include paying at a creditor's website using a credit card or using a bill payment service to consolidate bill payments, depending on the consumer's needs, habits and preferences. If a bill payer is short on funds when a bill is due, paying online using a credit card lets her stay current on the bill.

Third-party online bill-paying services such as PayTrust, Quicken BillPay and Mint let consumers set up regular payments by date and bank account for a small fee.