Expedited Payments

How is it different from Regular Bill Payment?

Today, bill payment users can schedule today, future, or recurring payments. Online Resources debits the funds for these payments on the “Send On” date entered by the user and submits the payment to the merchant either the same day or the next business day. Upon receipt of the funds, merchants post the payment to the users’ account, which generally takes 1-2 business days.

With Expedited Payments, you can choose to schedule a payment that will be debited from your account, submitted to the merchant, and posted by the merchant same-day…guaranteed! Once you chooses to schedule an Expedited Payment, Online Resources will perform a real-time, insession balance inquiry to ensure funds are available and if they are, the company will begin the payment remittance process immediately (before you exits their session).

How secure is it?

Since security is always our top priority, Expedited Payments will feature added security and risk management elements in the form of daily and per transaction limits. The limits are as follows:

• Each day, users may conduct up to 10 Expedited Payments.
• The combined daily dollar amount of all Expedited Payments conducted by a user will have a maximum limit of $25,000.
• Each Expedited Payment will have a per transaction limit of $25,000.

Users who attempt to make an Expedited Payment that exceeds any of the above limits will receive an on-screen message informing them that the payment cannot be scheduled. Again, these limits only apply to Expedited Payments; users who reach one of the limits will still be able to make payments using the traditional bill payment delivery methods.

What is Expedited Payment Guarantee?

Under the new guarantee, which will apply only to Expedited Payments, Online Resources will guarantee same day posting of the payment provided that the user makes the payment prior to the same day cutoff time designated by the merchant. If the payment is made after the cutoff time, the payment will be guaranteed to post on the next business day. If the payment is not posted by the merchant same day, Online Resources will cover any late fees or finance charges on the payment (as a reminder, there is a per transaction limit of $25,000 for Expedited Payments), as well as the $9.95 Expedited Payments transaction fee.