What is a Payee and a Service Account?
After your enrollment is successful, you are prompted to set up your payees and the service accounts associated with the payees. A payee is any entity to which you send payments. A service account is your individual account, usually identified with a unique account number, with a specific payee. For example, you could have a cellular phone, a home phone, and a FAX line with one telephone company. The telephone company is the payee and your three services (cellular, home, and FAX) are the service accounts that you have with the telephone company. Another example is if you have a primary residence and a vacation home, and you make mortgage payments for both properties to one mortgage company. The mortgage company is the payee and your two separate mortgages are the service accounts that you have with the mortgage company.
