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Farmers State Bank
Online Bill Payment Service
What is
online bill payment?
Online bill payment is easy,
fast and convenient. Throw away the envelopes and the stamps! You can pay
anyone, anywhere in the United States. It's done completely over the Internet
under your secure access. Once you've set up your list of payees, or
vendors, you need only enter the amount and date for electronic submission.
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What can I
do with online bill payment?
You can:
1. Setup
recurring payments of the same amount to automatically be paid so you never have
to think about them.
Frequency:
weekly, bi-weekly, monthly, quarterly, semi-annually or annually
Examples: Monthly
mortgage or auto loan payment
2. Make
one-time payments to anyone for different amounts at different times.
Examples: credit
card companies, utilities - even the babysitter down the street or your sister
who bought you lunch last week.
3. Review
upcoming scheduled payments and make changes or cancel them.
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How are my
bills actually paid?
Each day, around 6:00 P.M.
EST, Monday, Tuesday, Thursday and Friday, Farmers State Bank consolidates all
of the bill payments from its customers and performs several editing functions
to verify that payment information is correct. The following business day
after we submit the payment request, we determine if your payee will accept your
payment electronically or if a check needs to be sent. Once this is
determined, your payment is sent and the funds are deducted from your checking
account. Typically the funds are deducted from your account two business
days following the transmission.
Please remember that the
transmit date is not the day your payee will receive your payment. It is the day
the bill payment process begins. The payment still must be processed and sent
via an electronic ACH Debit or through the mail. Bill payments are transmitted
Monday, Tuesday, Thursday and Friday, so PLAN AHEAD and please remember
Wednesdays, weekends and holidays.
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What types
of accounts can I use bill payment with?
Your primary bill payment
account must be a personal checking account. Farmers State Bank offers a wide variety
of checking products to meet just about anyone's needs. If you have more than
one checking account, you can pay bills from any of your personal checking accounts.
However, the primary account that you choose will be assessed any charges
resulting from bill payments. See our account disclosures for
more details.
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What is the fee for online
bill payment services?
The initial setup is free,
and you receive unlimited bill payments for a period of 90 days. If you
choose to keep the service after the 90 day period, a fee of $4.95 will be
assessed per month. See our checking products for more details.
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How long does it take to
setup bill payment for my account?
If you sign up for bill
payment when you open your account, you will be able to use it as soon as you
receive your password and have available deposited funds. If you apply for bill
payment after your account is already established, it will take 2-5 days to
setup your access. You will know you have access to bill payment when you log on
and the Payments menu is available (i.e. icons and links for "Payments").
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Can I make
payments to anyone?
Just about - your utilities,
credit cards, mortgages, your babysitter, even your mom. You do, however, have a
few restrictions: (1) you cannot pay child support, alimony, or other
court-directed payments; (2) you cannot pay taxes or make payments to
governmental agencies; and (3) payments cannot be made to vendors outside of the
United States, or in a foreign currency.
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What do
payees receive?
Electronic payees receive
payment information in an electronic format that automatically updates their
accounts payable system. Non-electronic merchants or individual payees receive a
laser printed check sent through the U.S. Postal Service.
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How do I
know whether a merchant will receive an electronic payment or a check?
Many of your payments are
made electronically. Some payees, such as individuals, can't receive electronic
payments, so their payments are made by check. Either way, your payment begins
processing on the Transmit Date you specified.
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What if my
payee does not accept electronic payments?
No problem. We'll simply cut
a check and mail it to your payee instead.
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Can I
obtain a proof of payment?
Your proof of payment should
be shown on the next bill received from the merchant. If your bill does not
reflect your last payment and the payment was made in a timely manner, please
contact Customer Service at
CustomerService@FSBankMCTN.com, or contact
us via phone at (423)727-8121.
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Do I need
to notify the payee that I am using automated bill payment services?
No. When setting up your
payees, we will require your account number with that merchant. That account
number will assure that the merchant has the ability to credit your account
properly.
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What
happens if I setup a payment, but do not have sufficient funds in my account?
If
you have insufficient funds on the day the payment is scheduled to be sent, the
payment will not be made. You will also be assessed a bounced check charge of
$25.00. Using bill payment is no different than writing the check
yourself. When the check clears your account, the funds to cover that item
needs to be there.
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When I
enroll for bill payment, can I designate multiple funding accounts at that time
or do I have to wait?
Each of your personal checking
accounts will act independently with its own set of payees. You will not
have to wait for this feature.
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What if
Farmers State Bank does not properly complete a bill payment on time or in the
correct amount?
If Farmers
State Bank does not properly complete a bill payment on time or in the correct
amount, we will pay any late fees or finance charges, which you reasonably
incurred as a result as long as your account was in good standing with the payee
prior to this incident. We will also be liable to you if we fail to stop a
payment pursuant to your order to do so, so long as your order describes the
payment with reasonable certainty and is received at a time and in a manner that
affords us a reasonable opportunity to act on it before the payment is sent.
Except as stated in this agreement, any stop payment provisions of the agreement
otherwise governing your account that is applicable to checks will also apply to
the bill payment service. We will not be responsible for any charges
imposed or any other action taken by a payee resulting from a payment that you
have not scheduled properly, including any applicable finance charges and late
fees. In addition, we will not be liable if any third party through whom
any bill payment is to be made fails to properly transmit the payment to the
intended payee. We will also not be liable if there are insufficient
available funds or credit availability in your bill payment account and/or
overdraft protection plan; if a legal order directs us to prohibit withdrawals
from the bill payment account; if the bill payment account is closed or frozen;
or if any part of the electronic funds transfer system is not working properly.
We will not be liable for indirect, special, or consequential damages arising
out of the use of the bill payment service.
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Can I setup
a payee in another country (outside the U.S.)?
Online bill payments may
only be made to U.S. payees in U.S. dollars. If you need to make a payment to a
payee in another country, we suggest writing a check.
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Can I use
bill payment if I live outside the U.S.?
No. Online bill payment
requires a domestic grade browser that cannot be exported from the United
States. As such, customers who live overseas cannot use bill payment. If you
are temporarily outside of the United States, you can easily access your Farmers
State Bank accounts over the telephone, but cannot perform automated bill
payment.
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How do I
enroll in the Online Bill Payment Service?
You may enroll in the Online
Bill Payment Service during your Online Banking enrollment.
If you have already enrolled in
Online Banking and would like to enroll in the Bill Payment Service, send us an
email to
CustomerService@FSBankMCTN.com
and let us know. Certain restrictions apply.
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