Electronic bill payment Electronic bill payment Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account. These payments are typically executed electronically as a direct deposit through a national payment system, operated by the banks or in conjunction with the government. Payment is typically initiated by the payer but can also be set up as
Employee benefits Tax (FBT), which applies to most, although not all, fringe benefits. In India, the fringe benefits tax was abolished in 2009. In the United States, employer-sponsored health insurance was considered taxable income until 1954. In the UK, benefits are often taxed at the individual's normal tax rate, which can prove expensive if there is no financial advantage to the individual from the benefit. The UK system of state pension provision is dependent upon the payment of National Insurance Contributions. Salary exchange schemes result in reduced payments and so are may reduce the state benefits, most notably the State Second Pension.