Bill Pay FAQs
What is Online Banking Bill Pay?
Farmers State Bank Bill Pay Service allows customers who have established an Online Banking relationship to pay bills or make payments directly from their checking account via the internet. Bill Pay eliminates the need to purchase and write checks and lessen the need for stamps.
How do I get started?
First, you have to be set up for Farmers State Bank Online Banking. Applications for Online Banking and Bill Pay are available at any Farmers State Bank location, as well as, the FSB website under the online banking tab. We will then set up your Bill Pay account in order for you to pay bills on-line. You then will receive information through the mail to begin using the Bill Pay service.
Can I set up my Savings account to use with Bill Pay?
No. Federal regulations greatly limit the number of certain electronic transactions, including Bill Pay payments from savings accounts; therefore, Bill Pay may only be used with CHECKING accounts.
When and/or how are bill payments processed?
Your requests for bill payments must be entered prior to one of our scheduled processing times, Monday through Friday, to be processed the same day. Our Bill Pay processing times are at 3:00AM (EST) and again at 1:00PM (EST). Bill payments entered after 1:00PM (EST), or on Saturday or Sunday, or on federal holidays will not be processed until the next business day. Payments are mailed by check or sent electronically from a central processing center in Oklahoma City, Oklahoma and will require delivery time. Typically, an electronic payment will take 2-3 business days and a paper check will take up to 5-7 business days for completion through the Bill Pay service; so, please plan accordingly. A paper check will post to your account after it has cleared through the payee and you will then be able to view it Online. It will be listed on your checking account monthly statement.
How do I set up a Payee on Bill Pay?
From the "Bill Payment" tab, select "Add Payee". You can then choose "Pay a Company" or "Pay an Individual". You will be presented with a screen, which is used to establish a payee (the person or company you wish to pay). In order for your payment to be sent electronically, your payee must already be established in the system's electronic payee database. To see if your payee is in the database, type in the name of the Payee as it reflects on your bill, your account number and the address from the billing statement of your payee; then click "Search". If your Payee is an electronic payee, the payee type will indicate "electronic". Click "Submit" to create the payee. If it is not, a check will be generated. You will need to click "Add check Payee", fill in any missing information, and then click "Submit". Note that the "Account Number" field is your account number with your payee, not your checking account number. Please note that companies may not be able to be paid electronically when you initially set them up as a Bill Pay payee but may be added in the future.
How do I schedule a payment?
Click the "Bill Payment" tab. If you have any pending payments, they will be displayed here. Click "New Payment" and check the box(es) next to the Payee(s) you wish to pay then click "Submit". Fill in the amount, choose the date you wish to schedule the payment (please allow 2-3 business days for an electronic payment and 5-7 business days for a check payment), choose the account the funds will be deducted from, and enter a memo if desired. Note: Memos will not be sent with electronic payments.
When will the payment be deducted from my account?
If your payment is being sent by check, the funds will come out of your account when the check clears, exactly the same as if you had hand-written a check yourself. If your payment is being sent electronically, the funds will come out of your account the day the payment is sent. This is why it is imperative to have sufficient funds available at the time of payment.
Can I set up a recurring payment?
Yes. For recurring payments, select the "Bill Payment" tab - choose "New Payment" then click "Add Payment". Complete all the required information – one of the fields is labeled "Frequency". This allows you to create a recurring payment such as an insurance payment, car payment, mortgage payment, etc. Select a "Start Date". Enter the expiration date of the payment and whether or not the amount is different for each payment. For variable recurring payments, the system will change your payment amount to zero after each payment. You will need to edit variable amount payments prior to the next payment date. Then click "Submit".
What if my payment rejects?
If a payment rejects for any reason, Farmers State Bank will attempt to contact you for resolution. If you do not provide information within five business days, we will issue a credit to you for the amount of the payment.
Can I edit or delete a payment?
From your "Scheduled Payments" screen, you can edit or delete a payment(s) by clicking the drop down arrow next to "Select Option". Make the appropriate changes and "Submit". Payments are processed each business day at 3:00 a.m. and 1:00 p.m. (EST). Note that from Friday at 1:00 p.m. (EST) to Monday morning at 3:00 a.m. (EST) is one business day.
Can I edit or delete a Payee?
You can edit or delete payees by choosing the "Bill Payment" tab, and then click "Payees". Select edit or delete from the drop down menu; make the changes needed and click on the "Submit" button.
Can I request a stop payment for a payment scheduled through Bill Pay?
You can place a stop payment on a check based upon a check number or amount. Be aware there is a $32 charge for each request that will be deducted from your account. You can select a specific check, a range of checks, or you can select a specific dollar amount. Fields marked with asterisks are required. The more information you can supply, the easier it will be to stop the proper check. After filling out the requested information, click the "Submit" button. A "New Stop Payment" page will display for you to review and edit any of the information you entered. Once you have verified the information is correct, select the "Confirm" button. Note that we are unable to place a stop payment order on checks that we have already received and paid. Stop-payment requests must be entered by 5:00 p.m. (EST) to take effect on that business day. The stop payment request is only good for 14 days. If you wish to place a stop payment for a longer period, you must print the page, sign it and mail it to: Farmers State Bank, Attn: Bookkeeping, 220 S Detroit St..., LaGrange, IN 46761. Please remember to keep a second copy for your personal records. After the written stop payment notice is signed and received by Farmers State Bank, your stop payment order is good for six months and will not be effective after six months, unless the stop payment is renewed in writing.
What happens if I don't have enough money in my account when the payment is sent?
Payments made by check are sent regardless of the balance in your account, the same as if you had hand-written and sent a check yourself. Of course, if there are insufficient funds in your account when your check attempts to clear, you will be subject to overdraft fees and/or may have the check returned to you in exchange for immediate payment. When payments are requested electronically, funds MUST be available on the payment date in order for your payment to be sent. If funds are not available on your payment date, the system will continue trying to send your payment each day until funds are available.
How do I know if my bill has been paid through Bill Pay?
There are a couple different ways:
1). In your FSB Online Banking account, you may access this information through the "Bill Payment" tab – under "History".
2). You can also look under "Transactions" in the drop-down menu beside the checking account used for Bill Pay debits. This will show you the latest transactions from the account.
(Note: Electronic payments will reflect as soon as processed and Bill Pay check payments will clear the same as a standard handwritten check would).
Do I receive a separate statement for my Bill Pay account information?
No, all of your transactions that transpire will reflect on your monthly checking statement. You will not receive a separate statement for Bill Pay fees or transactions. All transfers to and from your account(s) using our Online Banking will appear on the respective monthly paper statement(s), or E-statement (if you have signed up for it) for your Farmers State Bank accounts.
If there are to be any changes will I be notified in advance?
Yes. We may change any terms of this agreement at any time. If the change would result in increased fees for any Online Banking service, increased liability for you, fewer types of available electronic fund transfer (EFT), or more strict limitations on frequency or dollar amount of transfers; we agree to give you notice at least 21 days before the effective date of any such change, unless an immediate change is necessary to maintain the security of an account or electronic fund transfer system. We will post any required notice of the change in terms on our Farmers State Bank website or forward it to you by e-mail or by postal mail. If advance notice of the change is not required, and disclosure does not jeopardize the security of the account or our EFT system; we will notify you of the change in terms within 30 days after the change becomes effective. Your continued use of any or all of the subject Online Banking services indicates your acceptance of the change in terms. You acknowledge and agree that changes to fees applicable to specific accounts are governed by the applicable deposit agreements and disclosures.
Does Farmers State Bank distribute my e-mail address?
No. Be assured, Farmers State Bank is here to serve you and we will not sell your e-mail address. We simply have it on file in case we need to contact you via the Internet.