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Frequently Asked Questions Getting Started with Paytrust How Paytrust Works Paytrust Capabilities E-Bills™ Privacy and Security Client Services |
How Paytrust Works How does Paytrust get my bill information? How will I know when I have new bills? What happens if I don't pay a bill? What happens to the hard copies of my bills after they have been scanned? What if some piece of important information, other than a bill, is sent to Paytrust? Do I have to pay the whole bill amount? How are the payments issued? When are checks issued to my payees? When are electronic payments issued to my payees? How will I know if my payee accepts electronic payments? When is my last chance to stop a payment? How long does it take for a Paytrust payment to be received? How will I know when payment has been sent? When will the amount on the checks I authorized be deducted from my account? What if my payee cannot accept electronic payments? How is my Paytrust service fee handled? Do I have to use Paytrust for every bill? Can I still write paper checks? What happens if I do not have enough money in my checking account to cover my bills? Does Paytrust support bill payment by credit card? Can I pay all of my bills at one time? What is the Personal Notes feature, and how is it different from the memo field on a check? How does Paytrust get my bill information? To issue payments through Paytrust, you must register your payees by providing their name, billing address, account number (if applicable) and other pertinent information. For bills that you choose to receive at home, this is the only information you need to make available to Paytrust. If you choose to receive bills online, your payees will be notified to send your bills, either electronically or by mail, to the Paytrust Processing Center. Electronic bills are posted immediately to your account. Paper bills are scanned and posted to your account within 24 hours of receipt. 
How will I know when I have new bills? Paytrust uses email to let you know the status of your bills. For every Payee you establish, you can control how many email notifications you would like to receive and when you would like to receive them. You can also check the Bill Center at any time to verify the status of your bills.
What happens if I don't pay a bill? Paytrust will send you an email notification that a bill is overdue. Bills are never paid unless you authorize them. If you choose not to pay a bill, or pay by some other means, you can file the bill without issuing a payment.
What happens to the hard copies of my bills after they have been scanned? Your original paper bill is stored for 30 days from the day of receipt, after which it is shredded for security purposes and recycled. Paper bills received from your payees are converted into electronic form within 24-48 hours from when they are received at the Paytrust Processing Center. Bill summary and transactional information is available for 24 months online. Bill images are maintained online for 24 months from the date the bill is posted online. After 24 months, your bill images are archived offline for another 12 months at which point they will be deleted from the system. Each year in January, Paytrust offers you the option to purchase a personalized end-of-year CD-ROM which contains all of your previous calendar year's bill history information. On the CD-ROM you can access all of your bill images from the previous year, and all of your summary information. This CD-ROM is an optional benefit, which we provide at an additional cost.
What if some piece of important information, other than a bill, is sent to Paytrust? Any non-bill notices, such as a rate change, will be scanned and delivered through the Bill Center. Account-related items sent to Paytrust, such as a calling card, are immediately forwarded to your home mailing address. All other items received, such as merchandise ordered online, cannot be accepted and will be returned to sender. Please be sure to indicate your home as the shipping address when ordering items online, through catalogs, etc.
Do I have to pay the whole bill amount? No. You decide and approve the amount of payment for every bill.
How are the payments issued? Only you can authorize a payment from Paytrust - you tell us who, when and how much to pay. Payments are issued electronically or via paper checks, depending on the payee's capabilities. Both electronic payments and paper checks always include remittance information, ensuring that your payee can accurately record that a payment has been received for your account.
When are checks issued to my payees? Most payees do not currently accept electronic payments. Therefore, Paytrust recommends that you set the payment date 5-7 business days in advance of your bill due date. Paytrust cuts paper checks twice a day, Monday through Friday. If you set payment in advance, your check is cut at 6am EST on the day you designated the payment to be sent. To have a check sent out the same day that you authorize payment, you must authorize the transaction by 3pm EST. So, for example, if your payment is due to the payee on the 15th of the month and you set the payment date in advance as the 10th, Paytrust will draft a check from your bank account on the 10th, at 6am EST and mail the check via first class mail to your payee. If you wait until the 10th to set the payment to go out, you must authorize your payment before 3pm EST. (If you schedule the payment after 3pm EST, your payment will be issued the following morning.) The money will not be deducted from your bank account until the payee cashes your check.
When are electronic payments issued to my payees? For payees who can accept Electronic Funds Transfers (EFT), Paytrust recommends that you set the payment date at least 4 business days in advance of the due date. If you authorize payment in advance, your EFT will be sent at 3pm EST on the day you designated for the payment to be sent. To have an EFT issued on the same day you authorize payment, you must authorize the transaction by 3pm EST. Please note: some EFT transactions may clear your bank account the same day they are issued. Be sure your account is funded in advance to avoid bounced payments. You may be charged a $25 fee for each payment returned for insufficient funds.
When is my last chance to stop a payment? You can choose to stop a payment up until 12 midnight EST on the night prior to the day you have designated for your payment to be sent. For example, if you have designated that your payment should be sent out on the 10th, you can stop the payment up until midnight EST on the 9th. You cannot stop a payment on the designated day a payment is to be sent.
How long does it take for a Paytrust payment to be received? Payments are issued electronically or via paper checks, depending on the payee's capabilities. Paytrust recommends that you plan to allow for five working days for paper checks to reach your payees. We recommend that you allow at least 4 business days for electronic payments to reach your payees. Both electronic payments and paper checks always include remittance information, ensuring that your payee can accurately record that the payment has been made for your account.
How will I know when payment has been sent? You will receive a Payment Confirmation email on the day that your payment is sent.
When will the amount on the checks I authorized be deducted from my account? If the payee accepts electronic payments, the amount is deducted from your account on the scheduled payment date that you have authorized. If the payee is being paid via paper check, the amount is deducted from your account when your payee cashes the check.
What if my payee cannot accept electronic payments? Paytrust will issue a paper check if your payee cannot accept electronic payments.
How is my Paytrust service fee handled? For your convenience, the process of paying your monthly service fee is automated. Seven days prior to the due date, you will receive an email notice from Paytrust and you can review the detailed statement in your Outbox. On the day your payment is due, Paytrust will debit your default payment account via Electronic Funds Transfer (or issue a check on your behalf if your bank doesn't offer EFT). In accordance with the Terms and Conditions of the Paytrust service, this monthly fee will be deducted from the checking account you designate as your "default" payment account.
Do I have to use Paytrust for every bill? No, you choose exactly which bills you want sent to Paytrust. When adding a payee, you will be asked if you want to receive the bill online. If you choose yes, a change of address notification will be sent to your payee, and bills should be redirected to the Paytrust Processing Center. If you choose no, you will continue to receive the bill at home, and you can schedule payments through the Bill Center. Please note: there may be some rare instances where your bill arrives online, but the payee will also send a paper bill to your home. Please check the Bill Center to ensure you do not make duplicate payments.
Can I still write paper checks? Yes.
What happens if I do not have enough money in my checking account to cover my bills? Paytrust issues standard, approved payments against your checking account. Just as with a paper check, you have to maintain sufficient funds in the account to cover all payment obligations. Paytrust is unable to notify you if you have insufficient funds. Please note: you may be charged a fee for payments that are returned for insufficient funds.
Does Paytrust support bill payment by credit card? Paytrust will only issue payments from an account with check-writing privileges. You can use Paytrust to pay your credit card with a check, but cannot use your credit card to pay other bills through Paytrust at this time.
Can I pay all of my bills at one time? Yes. You can pay multiple bills simultaneously from your Inbox. You can also pay any of your established payees by using the Make a Payment to Any Payee option.
What is the Personal Notes feature, and how is it different from the memo field on a check? Personal Notes are reminders you can add to any payment or filed item. Common uses for a Personal Note include reminders about why a payment was made, the occasion for a gift, or a dispute with the payee. Personal Notes are completely private, and can only be seen by you. In contrast, the memo field on a check is printed right on the check for the purpose of making an additional note to the payee.
Terms, conditions, features, pricing and service options are subject to change. |
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