A bill payment is a transaction where you cause funds to move immediately from an account at your bank to the bank's bill payment processor. The funds will then be delivered by the processor to an account at another company. For example, you can move funds from your checking account to another company for a car payment, telephone payment, a payment to an individuals account, or any other type of payment.
Before creating a bill payment, you will need the appropriate account number for the receiving company. This account number ensures that your payment is credited to the correct account.
Note:
It is recommended that you set up a bill payment 5-7 days in advance of the bill due date.
You can set up the following types of bill payments:
A single, one-time payment that occurs immediately.
A single, one-time payment that occurs once on a specific date
A scheduled payment that occurs repeatedly; for example, a monthly car payment or telephone payment
Note:
When entering a dollar amount, use a decimal point. For example, for $10 enter 10.00.
Once you set up a bill payment, the system debits your account on the date you requested.
You can make changes to a scheduled bill payment until 6 p.m. the day before the scheduled date of the payment. You cannot make changes to a payment on the date it is scheduled to occur. Attempts to do so may result in additional payments taking place. For example, you may have set up a monthly telephone payment from your checking account to occur on the 15th of each month. You can change the amount of the payment each month but you must change the amount prior till 6 p.m. on the 14th.
You can also skip a scheduled bill payment and reinstate it for the next scheduled payment. Be sure to review the related topics for additional information.