Final answer:
Automatic bill pay is a recurring payment system that facilitates timely bill payments through direct bank account withdrawals.
Explanation:
Automatic bill pay is a recurring payment system where bills are paid through direct withdrawal from a bank account, set up ahead of time. This system provides convenience and ensures timely payments without the need for manual intervention each month. For example, when a utility bill is due, the specified amount is automatically deducted from the linked bank account on the scheduled date, eliminating the need for manual bill payments.
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