The stop payment would be added in the same manner as for a regular check written out of the customer’s checkbook. Can an electronic payment be deleted once the customer has submitted it?
No. Once the payment is submitted, it will be processed. It will then be up to the customer to contact the payee for a refund, or request the bank to submit a claim. When do funds for payments debit the customer’s account? For an ELECTRONIC PAYMENT, funds are memo debited from the customer and memo credited to the bank’s clearing account the same day that the payment is sent, if the payment is sent before 12 noon CST. Electronic payments submitted after 12 noon CST are debited the next day during bill pay processing. CHECK payment funds are debited from the account when the check clears the account. Are checks drawn against the customer’s account mailed to the payee?
Related Questions
- The stop payment would be added in the same manner as for a regular check written out of the customer’s checkbook. Can an electronic payment be deleted once the customer has submitted it?
- If a Contractor does not utilize VSC, how should the payment of IFF be identified if they are paying via check or other electronic submission?
- Can I use this facility to pay stamp duty in electronic manner for payment of stamp duty for services other than that of MCA21 system?
