How does Online Bill Pay work?
Online Bill Pay is a service that allows you to set up bill payments to businesses and individuals. Once you enter a payment instruction in the system, the request is submitted to Bill Payment Services (8:00 p.m. CT, Monday through Friday). The following business day, your payment is sent electronically or by check. The funds are deducted from your funding account with the next scheduled ACH process, which is typically on the day following the payment date.
If I enroll for bill payment today, when will I be able to schedule and make bill payments?
Bill pay enrollment for new customers requires enrollment approval by the Financial Institution. Once enrollment is approved you, the end user, may access bill payment, but a batch process runs to display the user's account or payment method used for making payments. The batch process is run Monday - Friday (not on bank holidays) at the following times: 9:30 a.m. CT, 12:30 p.m. CT, 3:15 p.m. CT, and 8:15 p.m. CT. Until that is complete you, the end user, cannot initiate any payments because the "payment method" drop-down list will not have any selections to choose from.
The same batch process will apply when an end-user adds additional accounts to be used for bill payment - the end user will not be able to initiate payments with a new bill pay funding account until the next batch process runs.
Can I use Online Bill Pay from outside the United States?
Yes, as long as your bank account is in the United States, Guam, Puerto Rico, or the U.S. Virgin Islands.
Can I make a payment to an international payee?
No. Payments can only be made to payees within the US and its territories (Guam, Puerto Rico or US Virgin Islands). The customer will be allowed to add a payment to an international payee; however, the payment will fail during processing and result in an NDA (non-deliverable address). The customer will then be refunded and notified by the bank or by our support team depending on the Metavante agreement.
Which accounts can I use to pay bills?
Demand Deposit Accounts (Checking /Interest Checking) are the only type of accounts you can use to pay bills.
How do I add a funding account?
If you would like to use more than one account to make bill payments, you set up additional bill payment funding accounts on the Account Preferences screen by clicking the box under Billpay Account. You will not be able to use the new funding account until a batch process is complete. The batch process is run Monday - Friday (not on bank holidays) at the following times: 9:30 a.m. CT, 12:30 p.m. CT, 3:15 p.m. CT, and 8:15 p.m. CT. Until that is complete, the end user cannot initiate any payments because the "payment method" drop-down list will not allow you to select the new funding account.
How do I change a funding account?
If the funding account has pending payments, you should select a new funding account for the bill payments before changing the current funding account. You MUST have at least one account set up as the bill payment account in Account Preferences at any given time.
Do I need to contact my payees to tell them I am using a bill payment service?
No. Your payees do not need to do anything different to process online bill payments. Online Bill Pay uses the ACH electronic network or a paper check with your payment information clearly indicated.
How do I add a payee (merchant/vendor)?
Use the Payee Search function within the product to find and add your new payee. If the new payee is not listed, simply select "Manually Enter Payees" and enter the required information.
How long does it take to setup a new payee in Online Bill Pay?
Once the new payee is entered, you can use the payee immediately.
How do I know if a payee will receive payments electronically or via paper check?
When you conduct a Payee Search, electronic payees are indicated in the payee selection table by text that states the payee "Provides ePayments". Also, an icon that indicates "3 Days" with additional text stating "Please allow at least 3 business days to ensure on-time payment" will appear when making a payment to the electronic payee. When a bill payment payee accepts only paper check payments (no electronic payments relationship exists with Metavante), the payee name will appear in the selection list without the "Provides ePayments" text, and an icon that indicates "5 Days" with additional text stating "Please allow at least 5 business days to ensure on-time payment" will appear when making a payment to the paper check payee.
Can I make multiple payments to the same payee on the same day?
Yes, you can make multiple payments to the same payee on the same day as long as the payment amounts are different. For your protection, the system will not pay duplicate items for the same payee on the same day.
How do I change a payee's name and address?
To change any payee from the Payee Summary list, click the Payee Details link and then select the Change information link to make the necessary changes. The only fields that may be changed are AMOUNT, ACCOUNT NUMBER, and PAYMENT STATUS. For any other changes, delete the payee and re-add it with the correct information.
How do I delete a payee?
Cancel all scheduled payments for the payee by accessing the Pending Payments screen and clicking Cancel under the Action column. Under Payee Management, locate the desired payee and then select Payee Details. Select Delete Payee.
What does the payee receive with my payment?
Your payee will receive either an ACH electronic payment or a paper check. In either case, the payment is appended with the information that you have provided, such as your name and account number with the payee, so the payee can properly credit your payment.
When should I set up my payments to make sure they are paid on time?
Minimum payment "lead times" will be provided based on whether the payee accepts electronic payment (designated by an "e" symbol) or paper check payment (designated by a paper check symbol). Payments to electronic payees should be scheduled a minimum of 3 days before the payment due date. For paper check payments, payments should be scheduled a minimum of 6 days before payment due date.
Is there a maximum amount of bills I can pay in one day?
Although you can pay as many bills as you would like on a given day, the aggregate amount paid cannot exceed $20,000 per day.
Are there any payments that I cannot make using Online Bill Pay?
Payments cannot be made in foreign currency or to international payees. For payments to U. S. government agencies, Online Bill Pay has limited ability to research any issues that may arise due to the government's strict adherence to the Consumer Privacy Act. Online Bill Pay will not be responsible for any late fees or penalties that may be incurred by these types of payments.
How far in advance can I schedule payments?
You may schedule a one-time future payment up to 364 days in advance.
How late in the day can I enter, edit, or delete a payment?
Cut off time is 8:00 p.m. CT. Any new bill payments entered by that time will be accepted for processing that day, unless they are future dated, in which case they will remain in the pending queue until 8:00 pm CT on that date. Payments entered after this cutoff will be processed on the next business day.
Will bill payment activity that I perform today reflect "real time" in my bill payment reporting function?
Bill payment reporting is not "real time." Activity reports do not reflect bill payment activity until the day following the activity.
How often does the payment processor make payments?
Payments are processed Monday through Friday excluding holidays.
Can I make changes to an already scheduled payment?
If the payment is still pending, changes can be made. However, once the payment has been transmitted, you can no longer make changes to or delete payments.
When can I cancel a payment?
You can cancel or modify your payment online at any time before the cutoff time of 8:00 p.m. CT on the payment transaction date.
What date do I put in the TRANSMIT DATE field?
For a future dated payment this should be the date that you want your payment to be transmitted. This is the date the payment is extracted for processing.
Can I place a stop payment on a bill payment that I have already set up?
You yourself cannot place a stop payment on a bill payment. If the payment has been processed and is a paper check that has not yet cleared, you may contact Valley Green Bank Customer Service and they can place a stop payment on it for you.
What if my payee says that they have not received my payment?
Contact Valley Green Bank Customer Service to research your payment.
Can I get a copy of a canceled check?
Contact Valley Green Bank Customer Service to request a copy of a bill payment check. A fee may apply.