We will be launching a new and enhanced version of our Bill Pay service. The new service will offer many new benefits and features including better cash flow control and the ability to accept electronic bills. Best of all, the new Bill Pay features a new payment model in which your account will be charged on the same day the biller receives the funds for your payment!
You will continue to access Bill Pay through Online Banking. All of the payees you have set up in Bill Pay will convert to the new system with no action needed from you. You will not have to set up your payees; however, we do encourage you to save a list of your payee information prior to October 12th to verify on Monday, October 15th that everything has converted properly.
Any scheduled payments you have set up in Bill Pay will also convert over. If you have payments scheduled to be paid during or after the weekend of our system upgrade, all payments will be processed as they are scheduled, but there may be a delay in payments scheduled for Friday, October 12th through Sunday, October 14th. Please allow a few extra days for payments that need to be made around this time.
Six months of your payment history will be converted over to the new system. Prior to Friday, October 12th, please take steps to save any further Bill Payment history that you wish to retain. Our Bill Pay alerts feature will become more enhanced to give you more options. Because of the enhancements, if you use this feature currently, you will be required to re-establish the alerts you wish to receive after the system upgrade.
Your “pay date” will be the day that you want your payee to receive your payment, not the day you want the payment to start processing. For example, if you have a $100 payment due on 10/25, you can schedule that payment for 10/25.
You get to hold your funds until the payee receives the check on that “pay date.” So, in the above example, your $100 payment will stay in your account until your payment date of 10/25.
This new payment method will work like you are writing a check from your personal checkbook. No more processing delays!
You will have the option to view some of your bills from your payees right within Online Banking.
You will be able to set up payment reminders which can be sent as an email to your regular email address or to your cell phone. Detailed instructions on setting up alerts to come soon.