Q. Is there any cost to use the new bill pay service?
- No. There is NO FEE to you for use of the Bill Pay Service, for an unlimited number of monthly payments.
- Additional Charges for Member requested Services and Other Items:
These charges will only be assessed if you request one or more of the services listed here. There will be NO Charge for any item if needed to correct a P1FCU error.
- Return Check due to Member Error................................. $ 5.00
- Check Copy Mailed or Faxed to Member or P1FCU .... $ 5.00
- Check Copy Mailed to Merchant ...................................... $ 7.00
- Stop Payment ..................................................................... $ 20.00
- Return ACH items due to Member Error ......................... $ 20.00
- Overnight Carrier Delivery Charge per item ................... $ 15.00
- Special/Custom Report Charge ...................................... $ 25.00
- Research Fee for items over 8 months old ..................... $ 25.00
Q. What date will the new bill pay service go live?
- Bill pay will be unavailable during our upgrade during the day on February 17, 2010. The new service will go live on February 18, 2010.
Q. Will my current bills and scheduled payments transfer into the new service?
- All Payee information that you have now will transfer to the new service.
- All scheduled payments will transfer and pay on time.
- Existing bill pay history information will NOT transfer. If you need to check when you last paid a bill, you will need to refer to the account history for the account you pay your bills from.
Q. Can I schedule payments in advance on the new system?
- You may schedule one-time payments and recurring payments to any payees up to 12 months in advance.
- When you schedule a payment, you will put in the date that you want the payee to receive the payment. This is called the ‘Deliver On’ date. The service will then determine what day the payment amount will be pulled from your designated account based on how the payee can receive payment. This is called the ‘Withdraw On’ date. You will see both dates, so you will know when the money will come out of your account and when your payee will receive the payment.
- The service will not permit a Withdraw On date or Deliver By date earlier than the earliest possible dates presented. The service determines this earliest possible Withdraw On date and Deliver By date based on the number of business days required to deliver a payment to the payee, which is primarily affected by whether or not the payee has agreed to accept payments electronically (typically two business days) or requires payments be delivered by check (typically five business days).
Q. What is the Cut-Off time for scheduling payments?
- CUT-OFF TIME IS NOON for payments set to ‘Withdraw On’ the next Business Day.
- Payments scheduled after the Cut-Off Time will be processed no earlier than the following Business Day.
- Any payment can be modified or canceled, provided you access the service prior to noon on the business day that the payment is going to be processed (Withdraw On date).
Q. When I add a new payee, do I have to wait for them to be verified in the new system?
- No, there is no verification process on the new system.
- For vendors not currently on file, the Deliver By and Withdraw On dates will be available for the new payee based on how long it takes to cut a check and mail it to the address, typically 4-5 days.
Q. What are some of the new features available?
- The new system has a built-in calendar to allow you to schedule bills and reminders. Days that are available for bill scheduling appear in white.
- You can also set up in-system and email reminders of upcoming due dates.
- E-Bills: certain large companies have a bill system that will integrate with the new bill pay service. For example, if you have an AT&T cell phone you can set up your bill pay account to access the due date and amount due information automatically each month.
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