What happens if my bill is paid late through Paytrust?
Paytrust issues payments exactly on the date that you specify. It is important to realize that not all payees accept electronic payments. In such cases, Paytrust will issue a paper check and therefore you should select a payment date that is at least a week before a bill due date. This will allow a paper check issued by Paytrust on your behalf to arrive at your payee on time. Remember, with a paper check, the money stays in your account until the payee processes the payment. For payees who accept Electronic Funds Transfers, you should schedule the payment four business days in advance of the due date. However, you should be sure that your checking account is funded on the day you issue payment, as some EFT payments are posted to your payee’s account on the same day. In the highly unlikely event of a payment error, Paytrust will pay any penalty fees imposed by the payee.
