doxoBILLS has introduced a new feature, Real-Time Bank Balance with Linked Bank Account, which aims to provide consumers with real-time financial visibility and free payment delivery. This initiative seeks to help users avoid costly overdraft fees, which totaled over $8 billion last year.
The feature allows consumers to securely link their bank accounts from over 10,000 U.
S. banks and credit unions within the doxoBILLS Wallet. This enables secure, free payments while keeping sensitive financial data private. Users have already processed tens of millions of bills using more than 6,500 distinct financial institutions through doxo, with this new linked bank feature being the first to offer free payments and bill pay portability regardless of the chosen bank or credit union. Unlike traditional bank bill pay systems that typically restrict payments to a single bank website and checking account, doxoBILLS offers flexibility, allowing payments from any bank and any method, including debit cards, credit cards, Apple Pay, or checking accounts.
Steve Shivers, Co-founder and CEO of doxo, stated that doxoBILLS provides the first truly independent bill pay service, overcoming previous limitations that confined bill pay to individual billers or specific banks. He emphasized doxo’s mission to empower and protect consumers with a ubiquitous bill pay experience that supports any payment method, bank, and biller. Linking doxoBILLS to a bank account allows users to check their balance before making a payment and pay any bill across more than 120,000 billers for free.
Fragmented bill payment processes have historically led to significant costs for consumers. The convenience of online payments is often undermined by biller-imposed fees, and traditional methods like mailed checks carry risks of error, delays, and security vulnerabilities. According to doxo’s 2024 Hidden Costs of Bill Pay Report, overdraft fees alone cost consumers $8 billion annually, with households losing an average of $1,495 per year to fees, overdrafts, and other payment errors—an 18% increase year-over-year. Sharing payment information across multiple platforms also elevates the risk of identity fraud and data breaches.
The doxoBILLS Real-Time Bank Balance and FREE Payments with Linked Bank Account feature, powered by Plaid, provides several benefits: no payment fees for online payments made through a Linked Bank Account, account balance verification to prevent overdrafts, private pay protection to secure financial information from billers, secure tokenization for encrypted data transfer, and verified account ownership to reduce ACH return risks through real-time fraud protection and high-risk account detection. Consumers can view real-time balances, pay over 120,000 billers with zero delivery fees, avoid overdrafts, and manage all payments from a single, secure dashboard.
This new feature is one of the Six Essentials of doxoBILLS, a comprehensive approach to bill management that includes a Unified Bill Pay Calendar, Private Pay Wallet™, $1M Identity Theft Protection, Credit Score Protection, and Insights. These components collectively enable users to manage and pay bills with one login across any device and payment method, enhancing control, visibility, and security. Built on doxo’s advanced Bill Pay OS, doxoBILLS aims to provide confidence and clarity in financial management. Additionally, doxoPLUS, a monthly subscription for $5.99 (plus applicable tax), offers advanced bill pay protections including Credit Score Protection, Identity Theft Protection, Late Fee Protection, Overdraft Fee Protection, and expands free payment options to include standard ACH and most debit cards, beyond linked bank payments.
doxo develops innovations that transform the bill payment experience for consumers, billers, and financial technology providers. Serving over 10 million consumers, doxo’s all-in-one bill pay platform allows for organizing and paying bills securely. For billers, doxo provides a network-driven platform for online and mobile payments, offering integration, reduced costs, and enhanced features. For fintech partners, doxo delivers financial innovations to consumers across 97% of US Zip Codes, facilitating payments from over 8,000 financial institutions to more than 120,000 billers in over 45 service categories. doxo is supported by investors including Jackson Square Ventures, MDV, and Bezos Expeditions, aiming to disrupt a market accounting for over $4 trillion of US household spending.
