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Business Banking > Online Banking and More!
FAQs
Bill pay with online banking
- How do I set up my payees? How do I determine if a payee is electronic or check?
First, you will need the statements of the bills you would like to set up. Under the “payee” tab you will click the Add Payee button. Next, enter the name and state of your payee, and then click Submit. The following screen differs according to the name of the Payee entered:
If your Payee’s name and state DO NOT match any electronic payees in our database, then the payee will be set up as a check, indicated by the Payee Type field. If this is the case, fill in the rest of the information according to your billing statement from that payee.
If your Payee’s name and state DO match any of the electronic payees in our database, then you will be asked to click on the payee that most closely matches your payee. Click on that payee and fill in the rest of the information according to your billing statement. This payee is now electronic as indicated by the Payee Type field.
- When will the Bill Payment funds be debited from my account?
For an ELECTRONIC PAYMENT, funds are debited the same day (or following business day) that the payment is sent, providing it is sent by 12:00 noon CST. Electronic payments submitted after 12:00 noon CST are debited the next business day during Bill Pay processing. CHECK payment funds are debited from the account when the check clears your Beacon account.
- How do I know that my bill has been paid successfully?
To check the status of your bill, click on the History option on the Bill Pay screen, and then click on electronic payments. Your recent bills will come up and will be categorized based on their status. If a bill notes processing, then it is still in process. If the bill says processed it has successfully reached the payee. If the bill specifies failed, it has not been received and there is a problem on the recipient’s end. (*We cannot notify you of failed payments, but the money will go back into your account. You are encouraged to check your Bill Pay history often to ensure that your bills are being received.)
- What if I do not have enough money in my account?
CHECK payments are handled in the same manner as a check written out of your checkbook. If you have a Line of Credit or overdraft transfer account attached to your Bill Pay checking account, it will first attempt to deduct the necessary funds to pay the check. ELECTRONIC payments are verified for funds availability during processing. If the funds are available, the account that you selected for the payment will be debited and the payment sent. If the funds are not available, the payment cannot be sent and the view history would read NSF. Beacon’s Bill Pay system will continue to attempt to process this transaction at both processing times each day until the funds appear in the account.
- Is my Line of Credit or Overdraft Protection (ODP) accessed for Bill Payments?
If you are sending an Automated Clearing House (ACH) payment, the funds are verified by the AVAILABLE BALANCE in your account. The system will not recognize ODP as a part of the available balance, but will apply available funds on a Line of Credit attached to the Bill Pay checking account. If you pay by check, it would be exactly like writing a personal check. If there is not enough money in the account when the check is processed and you have ODP available, the check will be paid. The same fees apply for insufficient funds.
- How far in advance should I set up a payment to ensure it is paid on time?
For ELECTRONIC PAYMENTS, allow at least three (3) business days prior to the payment due date. For a CHECK, we guarantee that the check will be in the mail on the same day (or the following business day) the payment is submitted, providing it is entered before 12:00 Noon CST. Allow five to seven business days for a check payment. ***Please note that we have no control over the U.S. Postal Service.***
- The address of my creditor does not show up in the electronic search. What should I do?
Most creditors have elected to not have multiple addresses appear in the Bill Pay search function. If your creditor does appear with multiple addresses, and your billing address does not appear in this list, then you will need to set up a check payment.
- I get an error message when I put my account number in. Am I doing something wrong?
The account number can only contain numbers. Please eliminate any spaces, hyphens, or dashes. If you entered the account number correctly and still get an error message, set the payment up as a check payment. You may also want to contact the creditor you are attempting to pay electronically to verify what format they need you to submit your account number in.
- When and how are the payments processed?
Payments submitted, recurring or one time, before 2:00 AM CST Monday–Friday are processed at 2:00 AM CST. Payments submitted between 2:00 AM CST and 12:00 noon CST are processed at 12:00 noon CST. Payments received after 12:00 noon CST on Monday–Thursday will be processed the next business day. Payments received after 12:00 noon CST on Friday will be processed the next business day. All payments scheduled to go out on a weekend will be processed on the processing day before that date. Payments entered on the weekend will be processed on the next business day.
- What happens if I have a scheduled payment that falls over a weekend or holiday?
If a SCHEDULED payment falls on a holiday or weekend, it will be paid on the Friday BEFORE the weekend, or the last working day BEFORE the holiday. PLEASE NOTE: BILL PAY HOLIDAYS ARE THE SAME AS THE FEDERAL RESERVE, NOT BEACON FEDERAL.
- Can I get a copy of a cancelled check?
Yes. You will need to provide Beacon with the check number, amount, the day it was processed, and the day it was sent.
- Can I stop a payment?
Yes, after the check is printed and mailed. A fee will be charged for the check but not for the ACH. You will need to provide Beacon with the check number, amount, the day it was processed, and the day it was sent. ELECTRONIC PAYMENTS CANNOT BE STOPPED.
- Can I have multiple payments to the same payee on the same day?
Yes.
- What do the status fields indicate on the Payment History Page?
Processed: The payment has been processed and sent. Rejected NSF (or non-sufficient funds). The payment that you have tried sending was rejected due to non-sufficient funds. Communication Failure: There was an error due to communication problems. Vendor Refund: Payment rejected through ACH.
- Can I postdate recurring payments?
If a monthly recurring payment is set up to be paid on the 15th and the current date is November 12th, a payment will be scheduled for the month of November and set up to occur the 15th of every month until the end date is reached. However, if the payment is set up for the 15th and the current date is November 16th, the first payment will occur on December 15th.
- How late in the day can I enter, edit, or delete a payment?
You may add, edit, or delete a payment up to 2:00 AM CST on the day the payment is scheduled to be sent. If a same-day payment is submitted between 2:00 AM CST and 12:00 PM CST, it may be edited up until 12:00 PM CST.
- What is the best way to set up a payment that differs each month?
A scheduled payment that differs each month can be set up in two ways.
1) Add the payee and then use “quick pay” instead of “add payment.”
2) Add payment using variable payment. The payment resets to zero after payment is sent. You will need to go in and change the payment; if left at zero, the payment will not get sent.
- I am worried about security when using Bill Pay. Is it secure?
When a webpage is secure, the status bar on the Internet Browser will have a lock symbol. This lock symbol means that the webpage is encrypted for security reasons, just like our Internet Banking System. When the lock is double-clicked a window will pop up showing the Certificate’s Registrant, the issuing party, and the dates that it is valid.
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