Originally Posted by radonc1

Just keep tab of the bill pay fees and make sure that the receiver of funds is on the approved bill pay list.

As an aside, I would query the lender on approved methods of payment for your loan (which is what a HELOC is). You don't have to be specific, but one question I would ask is whether I could use a debit card for monthly payments.

I would also be very wary of the fees. Paying off a HELOC early (usually within 2-3 years) initiates a not insubstantial fee (hundreds of dollars). There are other less publicized fees as well. And interest rates are almost never fixed, so if by chance the lending rates spike, then you will be charged more for the loan. Finally, remember that HELOCs put liens on your property which may be a headache to deal with if and when you want to sell the property.

The bottom line: Tread with caution