When is the money for an EFT deducted from my account?
Some EFT transactions can take up to three business days (from your scheduled payment date) to clear your account, while others may clear your bank account the same day they are issued. Be sure your account is funded in advance to avoid bounced payments.
Why can’t I issue an EFT payment?
Although most large payees accept electronic payments, many smaller payees do not have the technology to accept them at this time. In these cases, you may issue a paper check. However, there may be other reasons why you are unable to issue an EFT payment, such as collections issues.
What happens if I don’t have enough money in my bank account?
As with a paper check, your account must be adequately funded to cover all payments. Some EFT transactions may clear your bank account the same day they are issued, so be sure your account is funded in advance to avoid bounced payments.
Can I cancel a payment?
Yes, you can cancel a payment if it is before the cutoff time at 5 PM ET. Go to the payment detail screen and select the Delete button at the bottom of the screen.
When do I have to submit my overnight check payment to ensure it will arrive on the next business day?
All payments must be submitted before 6:30 PM CT to be delivered by the next business day.
When would I ever need to make an expedited payment?
Expedited payments are ideal any time you have either forgotten to pay a bill or you are surprised by a payment that you need to make fast. Expedited payments provide an avenue to make that happen without incurring a sizeable late fee or damaging your credit rating.