FAQs
- What can members do through online Bill Payer?
- What is the fee for the Bill Payer service?
- When is the money withdrawn from my account after I pay a bill?
- Will I be able to view my payment history for a specific payee?
- How long will it take for my bill payment to be credited at the payee?
- How far in advance should I set up my payments to be paid?
- What do I do with the part of the invoice or bill that I usually send back to the payee with my check? Does the payee need that to process my payment?
- Why do you need to know the phone number of the payee?
- Are there specific days of the week that payments are made?
- Does our existing overdraft protection work for the Bill Payer feature?
- What do I do if the intended payee never receives my payment?
What can members do through online Bill Payer?
- Setup automatic payments for recurring bills of the same amount, such as your mortgage bill, electric bill and etc.
- Set up payments to be made to accounts at different times for different amounts, such as your phone bill
- Send money to any individual in the United States
What is the fee for the Bill Payer service?
There is no fee for Bill Payer.
When is the money withdrawn from my account after I pay a bill?
The money will be withdrawn from your account at 4 a.m. the morning of the day that you schedule the payment to be made.
Will I be able to view my payment history for a specific payee?
Yes, you will be able to recall at least the last 90 days of payment history.
How long will it take for my bill payment to be credited at the payee?
Two days for electronic payments. Some payees don't accept payments electronically. Those payees will display as having a lead time of 6 days or more. That, however, is an estimate because those payees are mailed checks. Once the checks are mailed, we have no control over how long it takes your payee to credit your account.
How far in advance should I set up my payments to be paid?
That depends on whether the payee receives electronic payments or checks. Electronic payments post in 2 business days. Payees that receive payments by check will display as having a lead time of 6 days. That however is an estimate. Once the checks are mailed, we have no control over how long it takes your payee to credit your account. For new payee setups, we recommend that you allow at least 8 days.
What do I do with the part of the invoice or bill that I usually send back to the payee with my check? Does the payee need that to process my payment?
No, you can simply shred or destroy it. All of the necessary information is provided to your payee through our online Bill Payer system.
Why do you need to know the phone number of the payee?
The phone number is necessary because we may need to contact the payee directly on your behalf when you ask us to research a failed payment.
Are there specific days of the week that payments are made?
Bill payments may be scheduled for withdrawal any day of the week. However, funds withdrawn on Saturday or Sunday will not be processed until Monday or the next business day. Funds are withdrawn from your designated LBS Financial account at 4 a.m. on the specified payment date.
Does our existing overdraft protection work for the Bill Payer feature?
No, overdraft protection is not available for Bill Payer transactions. If you do not have sufficient funds in your account, you will receive notice of the failed payment and the system will make 2 more attempts to withdraw the funds at 4 a.m. on each of the next two days.
What do I do if the intended payee never receives my payment?
Go to the Payment History section and click on the item you wish to inquire about. On that page is a link to a form you can fill out and submit electronically. All requests will be processed within one business day.
