Personal Banking
Online Bill Pay FAQs
Bill Pay Questions
Q: After I make a bill payment, how long does it take for the money to be debited from my account?
Q: How long does it take for a payment to reach the payee?
Q: How do I actually use the Bill Pay?
Q: Is it possible to schedule recurring payments?
Q: Are my Bill Pay transactions reflected in my payee's account history?
Q: How do I register for Bill Pay?
Q: How do I update a payee's account number?
Q: How do I update a payee's remittance address?
Q: How can I end online delivery of a bill and resume receiving my paper bill at home?
Q: Who can be paid using the Bill Pay system?
Q: When can I start using Bill Pay?
Q: When is Bill Pay available?
Q: Can I pay my bills on the weekend?
Q: Are my Bill Pay transactions reflected as Online Banking transactions?
Q: Is there a limit to the number of Bill Pay accounts I can set-up?
Q: Are all debits and credits sent out at the same time?
Q: How do I place a stop payment on a Bill Payment?
Bill Pay Questions
Q: How does Bill Pay work?
A: Payments are sent to your designated payees on the day you select (Process Date). Payments are sent either electronically or by paper check, depending upon the payee's ability to accept electronic payments.
Electronic payments take up to three business days to reach your payee while paper checks may take up to 10 days.
Payments will be electronically deducted from your NJM Bank account on or after the Process Date, never before. For your convenience, you have the option of setting up payments as one-time only or recurring. To help you understand the process, we have provided a diagram.
Q: After I make a bill payment, how long does it take for the money to be debited from my account?
A: The money will be debited electronically from your account within 1-3 business days starting on the business day following the payment date. If you make a payment on Monday, you can expect the money to be debited from your account by Wednesday or Thursday of the same week.
Q: How long does it take for a payment to reach the payee?
A: A payment that generates an electronic payment will credit the payee's account within 1-3 business days; whereas, a paper check may take up to 10 days.
Q: How do I actually use the Bill Pay System?
A: Step-by-step instructions can be accessed by pressing the help button within Online Banking.
Q: Is it possible to schedule recurring payments?
A: Yes. You can schedule weekly, semi-monthly and monthly recurring payments. The final payment of a recurring payment scheme is designated by a "Final Payment Date."
Q: Are my Bill Pay transactions reflected in my account history?
A: Yes. All Bill Payment transactions become part of your account transaction history and show up on your monthly account statement and Online Banking account histories.
Q: How do I register for Bill Pay?
A: Bill Pay registration is easy! The first time you attempt to access Bill Pay section of Online Banking, you will be prompted to begin online registration. You are first requested to read and accept the authorization disclosure. Failure to accept the disclosure terms prevents the registration process from proceeding.
Once you agree to the disclosure, you will then complete the online registration form, which is forwarded to NJM Bank for review. We are responsible for verifying the information on the form. After the application is approved, an email from NJM Bank will be sent to inform you. Access to Bill Pay does not require a separate logon.
Check out the Bill Pay demo
Q: When I add a new payee to my Bill Pay account, or change my payee's account number, how quickly will the change take place?
A: When you update the information for the Bill Pay account, the changes are implemented virtually instantaneously.
Q: If I make an error in selecting an electronic payee and it results in a late fee, am I responsible for the charges?
A: If you select an electronic payee with an address that is different from that indicated on your payment coupon, then you are responsible for the late fee. You always have the option to manually enter a different address for a payee.
If you select an electronic payee with the address that matches that indicated on your payment coupon, and our Bill Payment provider – routes the payment incorrectly, then our provider will take responsibility for the late fee.
Q: How do I update a payee's account number?
A: To update a payee's account number, click Payee List from your navigation links to display your list of payees. Find the payee for which you want to change the account number, and click its name. Within the Payee information section, click the Change Information link to display the Edit Payee page. Enter the new account number and click Save changes.
Q: How do I update a payee's remittance address?
A:To update a payee's address, from your navigation links click Payee List to display your list of payees. Find the payee for which you want to change the address and click its name to display the Payee Details page. Within the Payee information section, click the Change information link to display the Edit Payee page. Enter the new address and click Save changes.
Q: How do I add a payee?
A: To add a new payee to your account, click the Add Payee link under the Payees main navigation button. The Add Payee page will appear with instructions for adding the payee.
Q: How can I end online delivery of a bill and resume receiving my paper bill at home?
A: To stop online delivery of a bill, from your navigation links, click Payee list. From your list of payees, click the name of the corresponding payee. Within the Payee section, click the Stop Receiving Bills Online link within "Online Bill Information" display to change information. You will receive a confirmation message from the system and must click Submit to complete the deactivation of the e-bill.
For payees where we retrieve bills from your biller's website, this process will simply end online delivery of your bill. If you have requested that your payee stop sending the paper bill to your home, you should contact your payee directly to resume receiving a paper bill.
Q: Who can be paid using the Bill Pay system?
A: Anyone in the 50 United States and territories who can accept a check can be paid using the Bill Pay system. You can pay practically anyone – charge accounts, utilities, auto loans, professionals, even a lawn service or a relative. However, tax payments (such as federal, state and local) and court directed payments (such as alimony and child support) cannot be processed through our online Bill Pay system.
Q: When can I start using Bill Pay?
A: You can begin Bill Pay once you received an email indicating that your Bill Pay was approved.
Q: When is Bill Pay available?
A: You can schedule payments 24 hours a day, 7 days a week.
Q: Can I pay my bills on the weekend?
A: You can set up your payments during the weekend. However, the system will prohibit you from scheduling a single payment and the first of a recurring payment on the same weekend. This is because payments scheduled for the weekend are always processed on the Friday before. Therefore, when scheduling payments on a weekend, the first day for which you can schedule payments (single or recurring) is the first business day following the weekend.
Generally, single or recurring payments that fall on a Saturday, Sunday or bank holiday are processed on the previous business day and are debited from your account within two business days. If a bank holiday falls on either a Friday or Monday, the debit will occur within three days.
Q: If I schedule multiple bill payments for a single day, how will my account be debited - as a lump sum or separately?
A: Each bill payment is debited separately.
Q: Are my Bill Pay transactions reflected as Online Banking transactions?
A: All Bill Pay transactions become part of the Online Banking transaction history and show up in personal financial management applications when the transaction history is downloaded.
Q: Is there a limit to the number of Bill Pay accounts I can set-up?
A: Yes, you are limited to one Bill Pay account.
Q: Are all debits and credits sent out at the same time?
A: Yes.
Q: How is my account debited?
A: Your account is debited via ACH, which stands for Automated Clearing House. ACH is a funds transfer system which provides for the interbank clearing of electronic entries for participating financial institutions.
Q: How do I place a stop payment on a Bill Payment?
A: A payment may be edited or deleted from your Bill Payment Payee lists before the indicated "process date". However, requests for a stop payment to be placed on a bill payment must be received no later than 3 business days before the "process date". Stop payments may be placed by calling the Bank directly, and be sure to indicate to the customer service representative that this request is for a scheduled bill payment. Payments that are scheduled to be remitted electronically after this deadline cannot be stopped.
 |
|||
| Day 0 |  |
||
 |
|||
| Day 1 |  |
||
 |
|||
| Day 2 |  |
 |
 |
Day 4  Day 10 |
within  |
within |
within  |
|
|
|||
