How do Wire Payments differ from Bill Pay?
• Wire Payments are for time critical payments, while Bill Payments may take up to 5 days to be delivered to a Payee if a laser draft is issued. • Wire Payments can be made in US Dollars or many different foreign currencies while Bill Pay must be in US Dollars only. • Wire Payments can be sent internationally. Bill Payments are domestic only. • Wire Payments allow a user to make a free format payment without setting up beneficiaries first. Payees must be setup on Bill Pay before payments can be made. • More detailed beneficiary information is required for Wire Payments such as Beneficiary Bank, Beneficiary ID, and Beneficiary Account number. Bill Pay asks for relatively simple information about a payee such as name, address, and account number. • Forward dated Wire Payments can be amended up to 45 days in advance from the current date. Forward dated Bill Payments can be amended up to 30 days in advance from the current date. (Forward dated wires can only be denominated in USD.) • A com
• Wire Payments are for time critical payments, while Bill Payments may take up to 5 days to be delivered to a Payee if a Corporate check is issued. • Wire Payments can be made in US Dollars or many different foreign currencies while Bill Pay must be in US Dollars only. • Wire Payments can be sent internationally. Bill Payments are domestic only. • Wire Payments allow a user to make a free format payment without setting up beneficiaries first. Payees must be setup on Bill Pay before payments can be made. • More detailed beneficiary information is required for Wire Payments such as Beneficiary Bank, Beneficiary ID, and Beneficiary Account number. Bill Pay asks for relatively simple information about a payee such as name, address, and account number. • Forward dated Wire Payments can be amended up to 45 days in advance from the current date. Forward dated Bill Payments can be amended up to 30 days in advance from the current date. (Forward dated wires can only be denominated in USD.) • A
