| FREQUENTLY ASKED QUESTIONS ABOUT BILL PAYER|
Q: Whom can I pay through Online Bill Payment?
• You can pay anyone in the United States from the next door neighbor, to the utility company, to the bank and even a child in college across the country.
• One exception: You cannot pay any government agency via bill payment.
Q: When will the money be taken out of my account?
• Electronic payments: Funds are memo debited at the time the payment is processed. The hard debit will post to the customer’s account during End-of-Day processing.
• Check payments: Funds are debited from the account when the check clears the customer’s account at the bank.
Q: What if I do not have enough money in my account?
• Check payments are processed as normal and are handled at time of presentment according to Prior Lake State Bank’s standard NSF/overdraft procedures.
• Electronic payments are verified for funds during processing.
o If the funds are available, the account selected for the payment will be debited and the information sent on to the electronic vendor for processing.
o If the funds are not available, the payment will not be processed and the payment status will change to Failed-NSF. The payment will be resubmitted at each subsequent processing time until:
• The funds are in the account to make the payment,
• The customer deletes the payment,
• The payment’s expiration date arrives, or
• The account being debited for payment is closed.
The customer can establish an Event Alert in the Options tab online to receive an alert if bill payments are not processed due to NSF.
Q: What is the cut off time to enter, edit or delete a payment?
• You may add, edit, or delete a payment up to 2:00 AM Central Time on the day the payment is scheduled to be sent.
• If a same-day payment is submitted between 2:00 AM Central Time and Noon Central Time it may be edited up until Noon Central Time.
Q: I set up a payment today. When will the payment be sent?
• Processing occurs twice daily – the first of the day at 2:00 AM Central Time, the second at Noon Central Time.
• The payment will be processed on the date scheduled at the earliest possible processing time. If the payment was scheduled with today’s date and the last processing time has passed, the payment will be processed at the next possible processing time.
• Payments do not get processed on holidays or weekends. If a scheduled payment falls on a holiday or weekend, it will be processed on the Friday before the weekend, or the last business day before the holiday.
Q: Can I use Online Bill Pay if I live outside the United States?
• Yes, as long as your bank is in the United States. However, you cannot pay bills to payees located outside the United States.
Q: Can I get a copy of a payment made by check?
• Yes. Once a bill pay check clears, the image may be available in the accounts transaction list in Internet Banking. Otherwise, the bank can obtain a copy for the customer.
Q: How do I make sure my payment arrives on time?
• The date the customer enters when scheduling a payment is the processing date, not the date the payee will receive payment.
o For check payments, select a processing date of 5 to 7 business days in advance of the due date.
o For electronic payments, select a processing date of 3 to 4 business days in advance of the due date.
o NOTE: You may want to set up a payment to yourself so you can see how the system works.
Q: Can I have multiple payments to the same payee on the same day?
Q: Can I stop payment on a Bill Pay check?
• Yes. After the check is printed and mailed, payment history will show the check number for that payment. The stop payment would be added in the same manner as for a regular check written out of your checkbook.
Q: Can I stop payment made to an electronic payee?
• No. Electronic payments are credited to the payee via ACH through a third party provider (iPay). The customer should make arrangements for reimbursement with the payee directly.
Q: How many payees can be set up?
• There is no limit to the amount of payees a customer can have.
Q: Can an existing payee that is already set up be edited?
• Check payees: Anything about the payee can be changed.
• Electronic payees: The only thing that can be edited on an existing payee is the alias name on the payee and the account number. If the customer wants to change any other information the payee must be deleted and re-entered.
Q: If the memo field is filled out will the payee see this information?
• Yes, your memo will appear on check payments. The memo field is 40 characters long. Any information longer than 40 characters will be cut off. Memo field information does not appear on electronic payments.
Q: Does the payee see the information entered in the Payment Description field?
• The Payment Description field is found on the Add Payment page, or by going to Edit on a scheduled payment or a payment established via Quick Payment. This information is not sent to the payee.
Q: What do the status fields indicate?
• Processed: The payment has been processed and sent.
• Failed-NSF: The electronic payment was not processed due to insufficient funds. Processing for NSF payments will reattempt at each subsequent processing time until one of the following happens:
o The funds become available,
o The customer deletes the payment,
o The payment is a recurring payment and the expiration date arrives, or
o The account reaches a closed status.
• Failed-Communication Failure: An error occurred during processing due to communication problems. The payment will try again during the next processing time.
• Vendor Refund: Payment rejected at by the electronic payee.
Q: Can I view payment history for payees that have been deleted?
• Yes, when viewing 7, 15, or 30 days of history, All history (up to 19 months), and searching by date or amount. The deleted payee will not be available to choose from in the Payees drop-down list while using the search option.
Q: Are there minimum or maximum payment amounts?
• Check payments are limited to $9,999,999.99. Electronic payments are validated against the available account balance prior to processing with a maximum limit of $500,000.00. The minimum amount that can be sent for either check or electronic is $0.01.
Q: What alerts can be established for Bill Pay?
• Under the Options tab, the following Event alerts are available:
o Bill Payments Paid: If this alert is selected, the Alert when payment is processed alert at the individual payment level will generate when the payment is processed.
o Bill Pay Changed to Electronic: An alert will generate when a payee changes from check to electronic, after the customer has continued through the notification screen on the Bill Pay tab, and after the next payment made to that payee has been processed.
o Bill Pay Expiring Payments: An alert will be generated for recurring payments that are expiring.
o Bill Payments Failed: If the payment failed to process, an alert will be generated.
o Bill Pay Changed to Check: An alert will generate after a payee converts from electronic to check.
o Bill Payments Rejected: If the payment was rejected from iPay, an alert will generate.
• In addition, the Item Alert could be used for Bill Pay checks. Once the payment is processed, a check number will be listed on the Bill Pay History. Enter the check number in the Item alert. Once the check hard posts to the customer’s account, an alert will be generated.