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How much does Online Bill Pay cost? There is no charge for basic bill payment services. Some accounts may be charged a fee for bill payments in excess of 20 per month. Refer to the Facts about your Guaranty Accounts for specific details on those accounts.
Which bills can I pay using the Online Bill Pay service? With a few exceptions, you can pay virtually anyone in the United States. You have unlimited payees. You can even pay the baby sitter.
Are there any payees that I cannot pay online? You cannot pay any government agency; including, but not limited to, the Internal Revenue Service ("IRS") or other taxing authorities on a federal, state or local level; nor can you make online payments for court-ordered obligations such as alimony or child support. Also, payments to any organization or individual with an address outside the United States are not allowed. The bill payer scheduling payments is solely liable for payments not guaranteed as outlined in the online banking.
What information do I need to add payees to the Online Bill Payment service? Gather all your current, unpaid bills when setting up your payees. This way, all the requested information (payee address, phone numbers, etc.) will be right in front of you. You also have the ability to pick payees from Guaranty Bank's most common payee list.
I see references to a “nickname” as I'm setting up my account and adding payees—what do you mean by “nickname”? A nickname is a name that you choose to identify a payee when using the Bill Payment service. For example, if you set up the phone company as a payee, you may want to use the word "Phone" as a nickname. This nickname will appear on your online statement. You can also use a nickname to make it easier to remember a particular account and its purpose. For example, a savings account might have a nickname of "Vacation Fund."
Do I have to set up payees each time I make a payment? No. Once you've set up a payee you don't have to do it again. Each time you pay a bill you will be shown your list of payees. Just select the one(s) you want to pay and follow the easy steps to get them paid.
How long will it take to process my application the first time I sign up for Online Bill Pay? You will have immediate access to online banking unless you are a business customer. You can begin setting up your payees and pay bills instantly. It will take 24 hours for your account(s) history to display. If you are a business customer, all documents must be verified before you are set up on Business Online Banking. Please visit a local branch or call our Toll Free Customer Service Line at 1-800-925-8161.
Do I need to contact the merchant/payee to tell them that I'm using Online Bill Pay? No.
Can I edit information about payees? Yes. Just click on the "Payees" tab and then on the Payee's Name of the paye you want to change. You may make any desired changes to the Nickname or Account Number fields, address, phone number etc.
Are the Bill Pay transactions secure? Yes. Guaranty requires that all users of Online Banking and Online Bill Pay have browsers that support 128-bit Secure Socket Layer encryption. This means that data being transmitted from your PC to our server is encrypted from the time you enter your password during log-in until the time you exit your Online Banking session.
How many days in advance should I schedule my payments? You should schedule advance payments either two days or five days in advance of your payment due date. The "Delivery Time" appears next to the name of every payee when you schedule a payment and tells you if it is a two-day or five-day payee. (Two-day payees are paid "electronically", five-day payees require us to send them a bill pay check.) For example, if your bill is due on the 15th of the month and the "days to pay" is five, you need to schedule your payment to occur on or before the 10th of the month. Use only business days in your calculations. Business days do not include Saturdays, Sundays or Federal Reserve holidays.
What if I need to pay a bill immediately? Will it get paid? The bill will be sent on whatever date you select. Payments can be sent as soon as the next day as long as the funds are available in your account by 7:30 AM CT of the day the payment is to be sent. Keep in mind that all of your payments have a delivery time. Your two-day payments could be sent out the next day but your merchant would not receive it until the two-day delivery time is completed. Also note that some of your payments (those noted as five-day) are sent by check, so you must allow at least five business days for the U.S. Postal Service to deliver your payment. Funds are not removed from your account on five-day payments until the Payee's bank presents the check for payment. Make sure to allow enough time for your payment to be received by the payee.
If my bill was paid late, who pays for the late charges? We will work with the merchant to waive the late fee or pay the late charges as long as you (1) allowed ample time for the bill payment to be received by the payee, (2) entered the correct account information when you set up the payee, (3) entered the correct merchant/payee information when you set up the payee, (4) had sufficient available funds in your account when the payment was sent if it was a two-day payment or had funds when the bill pay check presents to the bank for payment. And, (5) were not paying one of the restricted payees such as court ordered payments (child support) or tax payments.
When are bill payments actually made? Payments made before 7:30AM CT are processed the same day. Payments after 7:30AM CT will be processed the next day. In many cases, Online Banking processes your bill payments electronically to the payee within two days. However, some merchants and professionals are not set up to accept electronic payments. In these cases, a check will be sent, which may take five business days for the merchant to receive your payment. Online Banking will tell you how many days to allow for each payee as you're scheduling payments.
Do I get a receipt from each transaction? Online Banking assigns a Transaction number to each transaction. You do not receive a receipt but this transaction number serves as a tracking number for the payments..
When must funds for the payment be in my account? As a general rule, two-day payments must have the funds available in your checking account by 7:30 AM CT of the scheduled initiation date the payment is to process. Five-day payments, where a bill pay check is sent on your behalf, must have funds available in your checking account when the payee's bank presents the check for payment. If you have Overdraft Protection Service, the bill pay check will pay using these services if funds are not available when the payment is processed.
What if I want to make a payment from an account other than my checking account? Federal regulations limit our ability to allow you to pay bills from your savings accounts. What most people do in this situation is: pay the bill(s) from their checking account, and then by using Online Banking, transfer money from savings to checking to cover the amount of the bill(s) that were paid.
What if I don't have enough money in my account? Any two-day bill payment that cannot be processed due to insufficient funds in your account will be automatically retried on the following business day. If the transaction fails again on the second day, Online Banking will notify you via in session messaging. If you have Overdraft Protection Services, Guaranty Bank will attempt to pay those bills using these services. A five-day payment is sent out as a bill pay check and will be presented to the Bank by your payee's bank. The funds need to be in your account when the check is presented. Overdraft Protection Services will be used if available or the Bank could choose to pay the item on your behalf but fees may apply. Guaranty Bank has several options to help you manage your money. If you are concerned about incurring overdraft or insufficient (NSF) fees, speak to one of our bankers about the various options available to you.
Can I cancel a scheduled payment? You can change dates and amounts or cancel a payment that you scheduled up until 30 minutes before the payment is to process. See the Online Banking Service Agreement for Transaction processing times. If the payment has already been sent by check, Online Banking Customer Service can enter a stop payment on your behalf. A two-day payment that has already been sent can not be stopped. You will have to contact your merchant.
Can I put a stop payment on an Online Bill Pay payment? It depends on the type of payment and how the payment will be sent: If the payment is sent electronically (two-day payees), a stop payment cannot be placed on the item. If the payment is sent by bill pay check (five-day payees), a stop payment can be placed on the item if the check has not cleared your account. Contact Online Banking Customer Service toll-free at 1-800-925-6181 for assistance. If you are trying to stop an electronic payment (two-day payee) from processing, you will need to contact the merchant directly about a refund. You can cancel or reschedule a future or recurring payment or transfer until 30 minutes before the payment is to be processed. See the Online Banking Service Agreement for transaction processing items.
What if a merchant says they haven't received a payment? What if I have questions on a specific bill payment? Verify if the funds were deducted from your checking account. Check to see if all the merchant information you entered about the payee is correct. Check to see when the payment was sent and be sure you allowed up to five days from the mail date (for payments with a "Delivery Time" of five days) for the payment to be received by the merchant. You can then log-in to Online Banking/Bill Pay and click on the "Bill Pay Inquiry" button. We will research your payment. Or, if you prefer, call us toll-free at 1-800-925-6181.
What if I still have questions about Online Bill Pay? You can call Online Banking Customer Service toll-free Monday through Friday 8AM CT to midnight or Saturday from 9AM CT to 4PM CT at 1-800-925-6181 and we will be glad to answer your questions.
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