Make sure my online payment will arrive on time

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The amount of time required to process an online payment depends on how you make it:

• For a Web Payment (A payment entered on your financial institutionÆs Web Financial Service Web site. Web payments are sent to your financial institution via the Internet and you can download the details of the transaction into your Money account through your online statement.), it depends on your financial institution (Bank, brokerage house, and credit card provider.).
• For Direct Bill Payment (A Direct Financial Service that allows you to pay bills electronically, which can be used with any checking account in the U.S. After you set up Direct Bill Payment at your financial institution, you can have money electronically debited from your account and your financial institution will send that money to your designated payee.) (an Epay) it depends on your Direct Bill Payment provider (this can be your financial institution or a third-party provider). Some providers require more time to process the first payment to a particular payee (The individual or business to whom a check is written.) than subsequent payments to that payee. This gives them time to verify the payee information you have supplied.

Future-dated payments

One great benefit of using online payments is that you can pay bills in advance of the due date, but funds won't be withdrawn from your account until the date you designate. This enables you to pay bills before you receive your paycheck or a deposit without having to worry about overdrawing your account. Just make sure you have enough money in your account on the date you specify as the withdrawal date. Also, verify that the date on which the payment will be received is not after your due date.

How do I get more information about online payments?