New Bill Pay Service – St. Paul Federal Credit Union is performing an update to our Bill Payment service that will result in a new look and feel to the service. These changes will be effective on Tuesday, July 25th, 2017.
Why is St. Paul Federal CU switching to a new Bill Pay service?
In 2017 our Bill Pay vendor was purchased by CheckFree, the world’s largest Bill Pay service. CheckFree decided to phase out the acquired Bill Pay service and convert clients like us over to their CheckFree service.
When is the bill pay conversion taking place?
The conversion is taking place beginning at 2:00PM on Friday, July 21st, and the new system will be fully available on Tuesday, July 25th, 2017.
What will happen to all my Bill Pay information?
The conversion to CheckFree will include the transfer of all your existing Bill Pay vendors, account information, scheduled payments and payment history.
Will the payment process be different than the current system?
Below are the current and new methods of processing payments.
- Current Method: If you schedule a payment with a deliver by date of 08/14/17, the funds are deducted from your account on the “send on” date and the bill is credited on the payment due date (08/14/17).
- New Method: If you schedule a payment with a deliver by date of by 08/14/17, the payment will be credited to the payee and the funds will be deducted from your account on 8/14/17. In some cases, funds may be sent as a paper check and the funds will not be deducted from your account until the payment is negotiated by the payee.
Will I need to re-enter the payment date on my recurring Bill Payments?
No, if your recurring payments are properly set up they will carry over to the new bill pay system.
When is the cut off time of the last bill payment in the current bill pay system?
The last day a bill payment can be scheduled in the current system is (before 2:00PM on Friday, July 21st.).
Will I be able to see my payment history in the new system?
Yes, you will see history for 1 year.
Will my current e-bills be transferred to the new bill pay system?
No, eBills will not carry over to the new system. eBills will need to be re-entered once the new bill pay system is up.
What are eBills?
eBills are electronic versions of paper statements or bills. Your Biller’s “eBill” arrives in your Bill Pay account service just as a Biller’s “paper bill” arrives in your mailbox. Bill Pay allows you to view all your eBills—as well as account balances, transactions and statement information—in one convenient place.
What if I used nicknames for my payees, will that be transferred to the new bill pay system?
Yes, nicknames will carry over to the new system.
What if I am not an active bill pay user?
If you currently do not use our Bill Pay service, you will not be affected by this upgrade.
How fast are payments delivered with CheckFree?
When you schedule a payment, the payment calendar indicates the earliest available payment date – up to 5 business days, or the next business day for payees that receive electronic payments.
Why isn’t my payment being sent electronically when it was before?
CheckFree does send most payments electronically, however it is possible that a payee in Checkfree’s platform may only accept check payments or that for a period of time after conversion, payments to certain payees may begin as check payments before changing to an electronic delivery method for future payments.
Does CheckFree have an expedited payments option?
Yes. Same-Day payments can be made for payees that accept electronic payments, while next-day rush payments can be made to payees through overnight express shipping of check payments. Fees will apply.