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Bill Pay - Frequently Asked Questions
How does Bill Pay work?
Are there fees associated with Bill Pay?
To whom can I make payments?
Can I schedule recurring payments?
How soon are funds actually taken out of my account?
What is the �processing date?�
How far in advance should I set up a payment to insure it is paid on time?
What happens if I have a scheduled payment that falls over a weekend or
holiday?
How can I ensure that my payee receives my payment by the due date?
What if I do not have enough money in my account?
When is the last possible opportunity for me to change or cancel a scheduled
bill payment?
How far in advance can I schedule payments?
Who do I contact if my transfer or payment has not been posted?
How do I get started?
How does Bill Pay work?
Payments are electronically transferred from your checking account to your
payee's account through the Automated Clearing House (ACH) network. If the
party to which you are making a payment is not setup for electronic
transfer, a paper check is sent via US Mail.
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Are there fees associated with Bill Pay?
No. The Bill Pay feature of Online Banking is FREE.
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To whom can I make payments?
You can make payments or send money to any person or company in the United
States.
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Can I schedule recurring payments?
Yes. Payments may be one time or recurring.
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How soon are funds actually taken out of my account?
Bill payments are debited from your designated account within 24 hours of
the processing date.
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What is the �processing date?�
It is the date you instructed us to deduct the funds from your account (to
pay a bill or transfer to another account).
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How far in advance should I set up a payment to insure it is paid on time?
Always allow at least 3 business days for electronic payments and at least 5
business days for payments made by check. Remember that weekends and federal
reserve holidays are not counted as business days.
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What happens if I have a scheduled payment that falls over a weekend or
holiday?
All scheduled payments that fall on the weekend or a holiday will be
processed the previous business day. You should allow at least 3 business
days for electronic payments and at least 5 business days for payments made
by check.
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How can I ensure that my payee receives my payment by the due date?
You may contact them directly or check your next billing statement for
verification of posting the payment.
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What if I do not have enough money in my account?
If funds are not available on the requested processing date, your transfer
or bill payment may be cancelled. If cancelled, it will be necessary to
reschedule the payment (the bill pay system will only process the payment
one time). If a recurring payment is cancelled, future payments on the
recurring schedule will not be affected. However, you will need to
reschedule the cancelled payment if you want it to be paid.
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When is the last possible opportunity for me to change or cancel a scheduled
bill payment?
You can change or stop a payment prior to the cut-off time on the processing
date you originally scheduled. (To change the date on a recurring payment
you must first stop the payment and then and reschedule it.)
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How far in advance can I schedule payments?
Payments may be scheduled up to 90 days in advance of the first due date.
Recurring payments can be scheduled to cease within one calendar year.
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Who do I contact if my transfer or payment has not been posted?
Before any research can be done on a payment that has not posted, please
allow a minimum of 10 business days for a check payment and a minimum of 5
business days for an electronic payment and transfer to reach your payee.
Often it does not take this long, but this is the amount of time we allow
the merchant to receive and post our payments. If the transaction has not
been posted by that time, simply call the toll-free number found at the
bottom of every page on the bill pay website. You may also chat with a
Subscriber Services representative by clicking on the Chat button (when
available) on the bill pay website or send an email to [email protected].
A representative will follow up on the transfer or payment and get back to
you within 24 to 48 business hours.
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How do I get started?
Just complete a Bill Pay enrollment form by pressing the �Enroll Now� button
on the Online Banking Log In page. When you receive notification from Team
Capital Bank that your bill pay enrollment has been approved (generally a
minimum of 3 business days), you may begin to use the service.
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