How are payments made to merchants?
Payments are made either electronically by ACH, which is transmitted 2 business days prior to the due date, or by check, which is mailed 5 business days before the due date. The payment method depends upon the payment method accepted by the merchants. How many days in advance should I schedule my payments? As a general rule, you should allow 5 business days before the due date you entered in order for your bills to be paid on time. For example, if your bill is due on the 15th of the month, load your payment on or before the 10th of the month. Remember to only include business days in your calculations. Do not include Saturdays or Sundays. For payments due on a Saturday or Sunday, count back at least 5 business days from the previous Friday. For example, if your payment was due on Saturday, you should schedule your payment by the Monday before the due date. What is the “due date?” The date the payment must be received by the payee. Do I need to contact my merchants to tell them I’m usin
