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1. Who is eligible for this service?
Any Credit Union Member with a checking account and access to the Internet is eligible.
2. What do I need to use this service?
You need access to the Internet through an Internet Service Provider (ISP), using a browser such as Netscape 4.5 or Microsoft Internet Explorer 5.0 or higher.
3. How do I sign up for Online Bill Paying?
Select the 'Click here to pay bills', icon in the upper right corner of any page. At Member sign on, enter your Member number and password. You must then agree to the Online Bill Paying Disclosure. This is the authorization for funds to be withdrawn from your account and your agreement to pay any applicable fees. If you go past this point and decide not to use Online Bill Paying, you will need to cancel the service to avoid the service fee.
4. What is the cost?
Online Bill Paying is free for all Members. A Credit Union checking account is required to use Online Bill Paying.
5. When does Online Bill Paying assess fees?
There are no service fees for Members. However, insufficient funds fees are applied at the time of the payment request.
6. Can I cancel this service at any time? How do I do this?
Yes, this service can be cancelled at any time. After logging on to Online Banking, click on the 'Additional Functions' button and select 'Stop Bill Pay Service'. This will delete your list of payees and stop your service.
7. How do I use Online Bill Paying?
Once you have signed up for online banking (see question #3), click on add a payee. You can either search the database for the payee you are adding if it is one already in our system or you can enter all required payee information (required fields are in blue). Then click on one of the options for the type of payment you wish to make (i.e. One time only, Manual, Automatic).
For further assistance, contact the Credit Union's Call Center at 800.873.5100, 561.982.4700 or <%if isProdCenter() = 0 then %>billpay@ibmsecu.org. <%end if%>
8. Can I change payments at any time?
Yes, as long as your account has not been debited for the payment. Log on to Online Banking , then choose the 'Additional Functions' button, then 'Change payee/payment' and follow the step-by-step instructions.
9. Can I change/delete payments once they are pending?
A payment can be changed or deleted once it is pending, as long as your account has not yet been debited. If your account has not been debited, the last change you make will override any previous changes.
10. Is there a time frame involved for entering information?
Yes, the time frame is approximately ten minutes for security reasons. You should be prepared beforehand with the name, address, phone number, account number, due date, and payment amount for every merchant or payee being entered.
11. Are transactions limited to within the USA?
Yes, payments cannot be made to foreign companies due to the exchange rate differences. All payments are made in U.S. funds.
12. Will I be able to make a payment to my account at a brokerage firm?
Yes, you can make a payment to a brokerage firm with the proper information and account number. This method may be used in place of a wire transfer.
13. Is there flexibility in the way payments are set up?
Online Bill Paying gives you flexibility in making payments to merchants or payees. The payments can be made manually as they come due, automatically for recurring payments, or as a one-time only payment. MANUALLY: The payments are set up each month. The user controls the start and end date. These types of payments are for bills with a different payment amount each month. For example: Gas, power, or telephone bills.
AUTOMATICALLY: The payments are set up one time and happen on a recurring basis. These types of payments are for bills with a fixed amount and due date each month. For example: Car or mortgage payments.
ONE-TIME ONLY: A bill that can be paid in one payment only and never needs to be paid again, or a bill that only comes due yearly. For example: Club dues.
**Online Bill Paying should not be used to pay Credit Union loans or credit card bills. Use the transfer option on Online Banking.
14. What is the length of time for payments to be applied to my bill?
Payments are credited to the merchant's account within two to five business days (not including day of debit), depending on the method of payment. Funds will be withdrawn up to six business days before the due date. Payments are made by a third-party called, Online Resources (ORCC). They establish contact with the merchants and payees and agree on a payment method. This may be done by check or electronic funds. When the merchant is paid by a check, the funds are withdrawn six business days in advance. When the merchant is paid electronically, the funds are withdrawn three business days in advance. (The system displays this information under the Search function for payees. Under the column DAYS TO PAY, the number of days indicated is the number of days BEFORE the due date the money will be withdrawn.)
15. How will I know which payments are made electronically and which are paid by check?
The general rule is if the payment is withdrawn six business days before the due date, a check is the method of payment. If the payment is withdrawn three business days before the due date, the method of payment is electronic.
16. Is there a minimum and maximum amount for each payment?
There is no minimum amount for a payment. The maximum amount is $25,000.00.
17. Once the funds have been withdrawn from my account, can the payment be stopped?
The payment is considered paid when the funds are withdrawn. THERE IS NO WAY OF STOPPING THE PAYMENT. However, just as with any check, after 10 business days, if the check has not been received, a stop payment can be placed for a fee. (See fee schedule) ELECTRONIC PAYMENTS CANNOT BE STOPPED.
18. What happens if a payment is not applied?
A history for each transaction is available. Tracing and research would be required for the transaction. This will be done through the Credit Union and Online Resources. A research fee of $18 may apply.
19. What should I do to inform you if a payment is not applied?
To inform us of a payment issue, send a message online by clicking the 'SEND PAYMENT INQUIRY' button under ADDITIONAL FUNCTIONS, contact the Credit Union's Card Services Department at 800.873.5100 ext. 8786 or 561.982.4700 ext. 8786, or email <%if isProdCenter() = 0 then %>billpay@ibmsecu.org <%end if%>.
20. What happens if I incur a late fee from the merchant?
Payments are covered by Online Resources Payment Guarantee policy providing that:
- The payment is scheduled three (3) business days for Electronic Payments, or six (6) business days for Check Payments, prior to the payment due date (not including grace periods).
- The payment was not made to an excluded merchant.
- The information supplied by the user is correct.
Please note: The guarantee does not imply that payments will be delivered and posted within two (2) to five (5) business days since the post office controls the delivery date of check payments, and the merchant controls the actual posting date of both check and electronic payments. To be reimbursed, you must supply proof of the payment due date and the late payment fee such as a copy of your billing statement.
|
ORCC |
CU |
USER |
| Lost, cannot determine reason |
X |
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| Not sent to payee as scheduled |
X |
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| Sent to wrong location |
X |
|
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| U.S. mail delay |
X |
|
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| Posting delay by merchant |
X |
|
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| Intervention by CU |
|
X |
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| Incorrect entry by CU |
|
X |
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| Scheduled incorrect number of days before due date |
|
|
X |
| Scheduled incorrectly |
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|
X |
| Incorrect account information supplied by user |
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X |
21. If a payment needs to be traced, whom do I contact?
If a payment needs to be traced, contact the Credit Union's Card Services department at 800.873.5100 ext. 8786 or 561.982.4700 ext. 8786 or email <%if isProdCenter() = 0 then %>billpay@ibmsecu.org. <%end if%>The problem will be researched and Online Resources contacted if further information is needed.
22. What if there is a system problem the day the payment is to be made?
The payment will be made as soon as the system problem is corrected.
23. What happens if there are not enough funds available to cover the payment?
The system will look at the current overdraft sequence already in place, and transfer appropriate funds as needed. If Overdraft Privilege (ODP) has been extended to you, payments will be made up to the extended amount less the ODP Fee of $26.00. If all overdraft sources have been utilized, the system will attempt to make payment for the next 3 business days. A notice will be sent to you after each attempt via the Online Bill Paying message box. After the third attempt, you will be charged a $26.00 fee for insufficient funds. Another notification will be sent and a letter mailed to you. Fees will be charged to the account, regardless of Reward Level.
24. What can't be processed through Online Bill Paying?
Any payments to State, Federal or Local Government agencies, Court ordered payments or collection agencies may not be processed. (E.g. payments to the IRS, tax collector, or to pay a traffic ticket.) Payments to homeowner's associations, hospital groups, or magazine subscriptions sent through a publisher's clearing house are not recommended because information without the payment coupons may not be sufficient.
25. In what format should I enter the merchant or payee information?
You must use capital letters, and must not use any punctuation marks. Enter account numbers and/or phone numbers without dashes or spaces.
26. Can the Credit Union cancel Online Bill Paying if it is abused?
Yes, a Member is allowed nine rejected bill payments within a 90-day period. A warning letter will be sent asking the Member to respond within 30 days. Online Bill Paying access will be terminated if no reply is received. The Member will then be notified by e-mail and a letter mailed. A $5 cancellation fee will be assessed regardless of the Member's Reward Level.
27. From what account will the money be withdrawn to pay the merchants or payees?
Funds will be withdrawn from your Credit Union checking account only (S50 or S55). Due to federal regulations, Savings and Money Market accounts cannot be used.
28. If the payment does not get applied, how soon can I expect a resolution to an inquiry?
You will receive a response within 1 business day of your initial inquiry and can expect the problem to be resolved within 10 business days.
29. If a check is issued to the merchant or payee and gets lost in the mail, does the system automatically refund the money if the check has not cleared in a certain period of time?
No, in this case, a stop payment would be issued against the check and a new check reissued to the merchant or payee. Contact the Credit Union Card Services department at 800.873.5100 ext. 8786, 561.982.4700 ext 8786 or <%if isProdCenter() = 0 then %>billpay@ibmsecu.org <%end if%>for assistance.
30. How many character letters must be entered in order for the search function to work properly?
At least three character letters must be entered in order for the search function to work properly.
31. How do I know what is required when entering Online Bill Paying information?
Required information is highlighted in blue on the screen.
32. What is the proper way to log off from Online Bill Paying?
In order to disconnect properly, click the Goodbye button.
33. While using Online Bill Paying, are there any other informational screens for me to view?
Yes, you may obtain balances and deposit information, complete transfers, request statements, and complete additional functions by choosing the appropriate icons.
34. Are payments sent in batches on a single check when there are several Members making payments to the same merchant?
No, one check is sent per account.
35. How do I get copies of cleared checks?
Check copy requests should be made to the Credit Union's Card Services department at 800.873.5100 ext. 8786, 561.982.4700 ext 8786 or <%if isProdCenter() = 0 then %>billpay@ibmsecu.org <%end if%>and we will contact Online Resources to fulfill the request. A check copy fee of $2.50 and an $18 research fee may be applied.
36. How much bill payment history is kept on the system?
The system retains 12 months of bill pay history provided the payee has not been deleted.
37. What does the notice Merchant Not Verified mean?
When adding a new merchant, or using a new payee for the first time, you will need to allow 10 business days from your payment due date for your account information to be verified. You will continue to receive this notice while the merchant verification process is being completed.
Questions or comments:
E-Mail: billpay@ibmsecu.org
Call: 800.873.5100 ext. 8786 or 561.982.4700 ext. 8786
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