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AUTOMATIC BILL PAYMENT PLAN
NO CHECKS NO POSTAGE NO LATE PAYMENTS NO HASSLES
Quick answers to your questions.
Q. How does Automatic Bill Payment work?
A. Fill out an enrollment form, available at your credit union. Once set-up, each company will withdraw your payment automatically on the due date. Allow 30 -–60 days for automatic bill payments to become effective Continue to pay as you normallly would until the company notifies you or your statement shows that you have been signed up for their plan – then stop sending payments.
Q. How will I know the amount of my bill?
A. Each company will send a billing statement at least 10 days before it is due indicating the variable amount. Customers with a fixed monthly billing amount will retain the current payment and due date and may not receive a statement unless the amount or date changes. Your automatic payment will be reflected on your next sharedraft/share statement.
Q. What is the Payment Authority?
A. A non-profit association funded by the financial institutions in Michigan’s lower peninsula. The Payment Authority (formerly MACHA) is working with the participating companies to promote Automatic Bill Payment. Feel free to visit their web site at www.thepaymentsauthority.org for more information.
Q. Is there a charge for the service?
A. No. The Automatic Bill Payment Plan is offered by participating companies free of charge. Your credit union does not charge you for this service.
Q. Can payments be withdrawn from a share account?
A. Yes, only your regular share account can be used. You cannot use your money market, Christmas or Vacation club accounts to set up Automatic bill Payments.
Q. What if I have a question about my bill?
A. Call the customer service number on each company’s bill.
Q. What if I need to make a change?
A. If you change your sharedraft or share account, a new enrollment form will be required. Again, allow 30-60 days for processing. If you decide to cancel your participation in the plan, simply call or write each company.
Q. How can I pay other companies this way?
A. Contact any other company that you are interested in paying this way to see if they have the ability to withdraw your payment electronically. If not ask when they will.
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