The Bill Pay system says ‘Schedule payment at least 5 business days before due date’. What does this really mean?
The number of days before the payment due date is called “lead time.” Lead time covers the time required for the merchant/payee to receive and post the payment (assuming the merchant/payee address and account number are correct). This does not guarantee when the merchant/payee will post the payment. The day that the payment was processed is not included in the lead time. Lead time should be used with discretion, since only user experience with the merchant/payee will determine the number of days the user should allow for actual posting of the payment.
A. The number of days lead time indicates the number of business days for the payment to arrive at the merchant/payee, assuming the merchant/payee address and account number are correct. This does not guarantee when the merchant/payee will post the payment to the merchant/payee account.The day that the payment was processed is not included in the number of days lead time.The number of days allows time for the merchant/payee to receive and post the payment. Lead time should be used with discretion, since only user experience with the merchant/payee will determine the number of days the user should allow for actual posting of the payment.
Related Questions
- The Bill Pay system states Schedule payment at least 5 business days before due date. What does this really mean?
- The Bill Pay system says ‘Schedule payment at least 5 business days before due date’. What does this really mean?
- The Bill Pay system says "Schedule payment at least 5 days before due date." What does this really mean?
