What happens if a customer bill is paid late through EBPS?
EBPS issues payments on the date that customers specify. If a customer pays by electronic check or by credit card, the payment is entered on the date that the transaction is entered on the web site. If a customer has arranged for pre-authorized transactions on a specified date each month, the payments will be credited to a customer account with the vendor on that specific date each month. If the invoice is paid by sending in a paper check to the vendor, that paper check may be converted to an electronic payment. Such payments will be credited to your account on the date received by each vendor. However, to make sure that payments are received timely, consideration must be given for the time it takes for the payment to be received from the time such payment is mailed. Normally, to be safe, customers should mail payments four to five days before the actual due date of the payment. With electronic payments, the clearance time is immediate so be sure that the checking account being charged
