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What is the difference between a one-time payment and a recurring payment?

April 26, 2017one-time payment recurring

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What is the difference between a one-time payment and a recurring payment?

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If your payment amount or payment day changes from payment to payment, it must be set up as a One-Time payment. A Recurring Payment is a payment that is always the same amount and is paid at regular intervals.

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If your payment amount or payment day changes from payment to payment, it must be set up as a one-time payment. A recurring payment is one that is always the same amount and is paid at regular intervals.

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Many bills have varying payment amounts and due dates, such as a utility bill. For these payments, schedule a One-Time Payment. However, some payments such as mortgages and auto loans have fixed payment amounts, due dates and frequencies. For these types of payments, create a Recurring Payment and Woodforest will process the payment on the frequency you select without any other intervention.