autopay

American  

[aw-toh-pey] / ˈɔ toʊˌpeɪ /

noun

Finance.

1. a computerized service that automatically deducts from an individual’s checking, savings, or money market account an owed recurring payment, as for a bank loan, credit card, or utility bill, in time to meet the payment due date.

   Using autopay helps ensure timely payments and the avoidance of late fees.

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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

See Examples For:

autopay

Lovelace made the switch in June, when the Education Department announced a temporary 1% interest-rate reduction for borrowers who enrolled in autopay.

From The Wall Street Journal ● Jul. 14, 2026

To qualify for the 1% interest-rate reduction, borrowers need to have federal direct loans that were originated after July 1, 2012, and they need to be enrolled in autopay.

From MarketWatch ● Jun. 18, 2026

Borrowers in the U.S. can enroll in autopay with their student-loan servicers, but it isn’t the default.

From The Wall Street Journal ● Oct. 13, 2025

As a child, Alonzo’s family squatted in an abandoned diner; now, after decades of hard work, she can put her bills on autopay.

From Los Angeles Times ● Sep. 22, 2025

Dell wanted to go for guardianship too, but he's pretty much broke—even though I recently put his accounts on autopay to help straighten out some of his finances—so he doesn't qualify.

From "Counting by 7s" by Holly Goldberg Sloan