Bill collection in banks refers to the procedure by which banks handle and collect payments on behalf of their customers for various bills and financial obligations. This service is frequently provided to make it easier for consumers to settle their invoices through their bank, saving time and effort. Here’s an overview of how bill collecting normally works in banks.Bill collection at a bank involves the collection of various bills, such as utility bills, loan repayments, credit card bills, insurance premiums, and tax payments. Banks offer multiple payment channels, such as in-person visits, online platforms, mobile apps, and ATMs. They handle various types of bills, such as utility bills, loan payments, credit card payments, insurance premiums, and tax payments.