A bank bill payment service parking meter system comprises a parking meter, a parking area computer center communicating with the parking meter and a banking system used for collecting parking fee by procuration, wherein, the parking meter comprises a receiving module, a computation module, an encryption module, a transmission module and a judging module. The receiving module is used for receiving information, wherein, the receiving information comprises reading the bank card information and receiving the information about parking time set by a user; the computation module calculates the parking fee based on the set parking time; the encryption module encrypts the bank card information and the parking fee; the transmission module transmits the encrypted information to the banking system; and the judging module is used for judging the parking state of a vehicle. The bank bill payment service parking meter system uses the banking system for collecting the parking fee and has convenient use. A parking fee payment method is also provided.