>>Does NTBK charge you for online bill pay?
netbank.com
What most people like best about Online Bill Pay is that you can set up recurring payments that are fixed (like your mortgage) or variable (like your phone and utility payments). And, at Net.B@nk, there's NO extra monthly charge for our Online Bill Pay services, and you can set up an unlimited number of payments.
And from their FAQ page:
netbank.com
FAQ: Net.B@nk Online Bill Pay
Q: How does Net.B@nk's Online Bill Payment service work?
A: Your payments are electronically transferred from your Net.B@nk account to your payee's account through the Automated Clearing House (ACH) or the MasterCard RPS network. If the party you owe is not set up for electronic transfer, a check is sent via U.S. Mail.
Q: How are my payments sent?
A: In most cases, your payment is made as an All-Electronic Payment, where an electronic transfer from your checking account to the payee account is made on the payment date you specify. Sometimes, however, the system determines that an All-Electronic Payment is not the best method. In those cases, the payment is made by an Electronic-to-Check payment, where funds are electronically transferred from your Net.B@nk account on the payment date you specify. Then, a check is drawn on the Processing Center's bank account and mailed to the payee. The payee handles the payment as a regular paper check.
Q: Are there any payments I can't make using my Net.B@nk Online Bill Payment Services?
A: The only payments we are unable to make are tax payments and court-ordered payments.
Q: When should I set up my payments to make sure they are paid on time?
A: Net.B@nk's Online Bill Payment services will eliminate the time-consuming chore of writing and mailing checks, but you still need to provide enough lead time so your payments get to the payee on time. We suggest you set the payment date at least five (5) business days in advance of the due date to allow for payment processing. So, for example, if your gas bill is due on the 15th of the month, schedule your payment to be made no later than the 8th of the month. Remember to only include business days in your calculations. Do not include Saturdays or Sundays. For example, if you have a payment scheduled to be paid on a Tuesday the 15th, enter your payment date for no later than the previous Tuesday, the 8th of the month.
Q: Can I determine my bill payment date using the "late date" or the "grace period"?
A: No. Always use the "Due Date" when determining your online bill payment date.
Q: How will I know what payments have been made?
A: Through Net.B@nk's Online Access to your account, once a payment has been made, you'll be able to view it on screen. The payment will also be clearly itemized on your monthly bank statement. Keep in mind that we only make the payments you authorize. You are in control of your account at all times.
Q: What if my payee says they have not received my payment?
A: As a general rule, you should allow 5 business days for a payee to process your payment. So, when you view your account online, allow 5 business days (excluding Saturdays and Sundays) to pass from your scheduled date of payment before getting concerned. If after 5 business days your payment has not cleared on screen, call the payee directly. If your payee reports that payment has not posted, notify a Net.B@nk Customer Banking Associate at 1-888-BKONWEB. We will provide proof of payment to your payee and work to resolve the issue on your behalf. Net.B@nk guarantees reimbursement of or reversal for any late fees you incur due to technical difficulties with online bill payment.
Q: What about the payment stubs I usually send back with my check?
A: Recycle them! We'll provide all the information your payee needs to process your payments.
Q: Do I need to contact my payees to tell them I'm using Net.B@nk's Online Bill Payment Services?
A: No, not at all. Using our online bill payment service will not change the way your payments are credited or how money is moved through your accounts.
Q: If my payment due date falls on a Saturday or Sunday, what should I do?
A: Electronic payments cannot be made on Saturdays or Sundays. So, if your payment is due on Sunday, the 15th of the month, count back at least 5 business days from the previous Friday the 13th. In this example, schedule your payment to be made by Friday, the 6th.
Q: Can I order a "Stop Payment" to a bill payment I've already set up?
A: Yes. You can "Stop Payment" on either a variable or recurring bill payment at any time up until your scheduled date of payment, provided you have set your payment date at least 5 business days before payment due date. So, for example, if you have a bill with a due date of Friday the 30th and you have scheduled your payment for Friday, the 23rd, you can enter a "Stop Payment" request up until Friday, the 23rd, at 6:00 p.m.(EST).
Q: Can I do both a recurring and variable bill payment to the same payee during the same time period?
A: Yes. If, for example, you have previously set up a recurring payment to a credit card company, and you wish to make another payment during that same time period on your credit card bill, you can set up a variable payment. It is important to note, however, that our Bill Payment Processing Center maintains a valuable safeguard to prevent duplicate payments. When more than one identical payment is requested for the same payee, amount and payment date, the duplicate payment instruction is automatically disregarded. This is important to know in case you should ever actually want to send two identical payments to the same payee on the same day. If you need to send two identical payments to the same payee account, separate the payment dates by at least one day or vary the amounts slightly.
Q: Should I enter my online bill payment in my paper check register?
A: Yes. Enter you online bill payments into your Net.B@nk check register or into your financial management software system (i.e. Intuit's Quicken® or Microsoft's Money®) just like you would an ATM withdrawal or a regular check payment. That way, you'll be able to properly reconcile your Net.B@nk checkbook with your Net.B@nk statement each month.
Later this year, Net.B@nk will be adding an OFX (Open Financial Exchange) to our banking platform so that you'll be able to easily download your Net.B@nk account information into your personal financial management software. Though you'll still want to record your transactions into your Net.B@nk check register for account reconciliation purposes, no longer will you have to duplicate your efforts by also entering your transactions into your financial management software.
Q: What happens if I don't have enough money in my Net.B@nk checking account to cover an online payment I've set up?
A: Despite the many advantages our Online Bill Payment Service offers, you still need sufficient funds in your Net.B@nk account to cover the payments you authorize. If you request a payment for more than the balance in your account, you may incur the same overdraft penalties as with a personal check. Net.B@nk's Non-Sufficient Funds (NSF) fee is $25. (You may also incur an NSF fee from your payee's institution if you do not have the funds to cover your payment.)
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