autopay
Americannoun
Usage
What does autopay mean in budgeting and savings? Autopay, short for automatic payment, is a computerized service that automatically deducts an owed recurring payment from an individual’s account (usually a checking, savings, or money market account), in time to meet a payment due date.Autopay can usually be set up directly with the company receiving payment or through the payment service of one's bank.Autopay can be set up to make many types of payments, including recurring payments for a bank loan, a credit card, or utility bill, etc. Using autopay for recurring bills ensures timely payments and the avoidance of late fees.
Etymology
Origin of autopay
First recorded in 1980–85; shortening of automatic payment
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
Reader and wealth adviser Nick Gerstema writes: “Kill the vampires. A vampire is anything that’s a suck on your financial life. Think about what you have on autopay — maybe it’s a streaming service you haven’t logged into for months. Perhaps it’s time to cancel those. And look at electronics that run all day in standby mode — the TV in the spare bedroom and the things that you just don’t use. Unplug them and save a couple of bucks.”
From MarketWatch
My relative also has no idea what they are being charged for these services; the attorney set everything on autopay.
From MarketWatch
It’s also important to not make any new buy-now-pay-later purchases and to set up autopay on outstanding loans to avoid late fees, said Joe Piszczor, founder of Washington Family Wealth in Washington, Penn.
From MarketWatch
She gives us her rags-to-riches story of growing up in an abandoned diner with her family, pairing that against her life now and enjoying the childhood she never had — and the ability to keep all her bills on autopay.
From Los Angeles Times
Borrowers in the U.S. can enroll in autopay with their student-loan servicers, but it isn’t the default.
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
