Abstract: The present invention is an integrated bill consolidation, payment aggregation, and account-payment application system. The system acts as a settlements exchange for the execution of payments between households or small businesses and the service establishments (principally utilities, financial institutions, telecoms, and others) that serve them. The system eliminates paper check payments without requiring automation at the household level (for example, telephone bill-pay, PC payment systems). The invention provides for the consolidated billing of a plurality of services to a plurality of households, the payment to individual service establishments in aggregate "bullet" transfers (verses individual household payments), and the automated application of payments to service establishment accounts.