FAQ BillPay

FAQ (Frequently Asked Questions): Farmers & Merchants Savings Bank's Online BillPay

Q:  How does Farmers & Merchants Savings Bank's Online Bill Payment service work?

A:  Your payments are electronically transferred from your Farmers & Merchants Savings Bank account to your payee's account through the Farmers & Merchants Savings Bank check network.

Q:  How are my payments sent?

A:  Your payment is made by having funds which are electronically transferred from your Farmers & Merchants Savings Bank account on the payment date you specify. Then, a check is drawn on the Processing Center's bank account and mailed to the payee. The payee handles the payment as a regular paper check.

Q:  When should I set up my payments to make sure they are paid on time?

A:  Farmers & Merchants Savings Bank's Online Bill Payment services will eliminate the time-consuming chore of writing and mailing checks, but you still need to provide enough lead time so your payments get to the payee on time. We recommend you set the payment date at least five (5) business days in advance of the due date to allow for payment processing. Remember to only include business days in your calculations. Do not include Saturdays or Sundays; if your payment falls on a Saturday or Sunday use Friday as your payment date.

Q:  Can I determine my bill payment date using the "late date" or the "grace period"?

A:  No. Always use the "Due Date" when determining your online bill payment date.

Q:  How will I know what payments have been made?

A:  Through Farmers & Merchants Savings Bank's Online Access to your account, once a payment has been made, you'll be able to view it on the screen. The payment will also be itemized on your monthly bank statement. Keep in mind that we only make the payments you authorize. You are in control of your account at all times.

Q:  What information does my payee get with the payment?

A:  The following items are included on the BillPay check that is received by the payee:

  • The Payor: The name of the accountholder that logged into the Online@FMSB service when the payment was initiated.
  • The Account Number: Whatever you enter into the account number with payee field on your screen. This most likely will be your account number with the payee, but can also include any other identifying information as the field length will allow.
  • And of course the payee name, address and amount of the payment

Q:  What shows up on my statement?

A:  You will find it helpful to use the Description field when entering the payment information.. Whatever you enter in the description field when making your payment will appear on your monthly statement and also on the transaction screen that you view online. By utilizing this field, it will make your recordkeeping much easier and the BillPay history of transactions on your statements will be much clearer. If the Description field is left blank when you are creating or editing a scheduled payment, the statements and transaction history fields will contain the phrase "Transfer to External account".

Q:  What if my payee says they have not received my payment?

A:  As a general rule, you should allow a minimum of five (5) business days for a payee to process your payment. So, when you view your account online, allow at least 5 (five) business days (excluding Saturdays and Sundays) to pass from your scheduled date of payment. If your payee reports that payment has not posted, notify Farmers & Merchants Savings Bank. We will provide proof of payment to your payee and work to resolve the issue on your behalf.

Q:  What about the payment stubs I usually send back with my check?

A:  Recycle them! We'll provide all the information your payee needs to process your payments from the information you provide us when you create the payment. Some things cannot be paid with BillPay, (i.e. taxes).

Q:  Do I need to contact my payees to tell them I'm using Farmers & Merchants Savings Bank's Online Bill Payment Services?

A:  No, not at all. Using our online bill payment service will not change the way your payments are credited or how money is moved through your accounts.

Q:  Can I order a "Stop Payment" to a bill payment I've already set up?

A:  Yes. You can "Stop Payment" on either a variable or recurring bill payment at any time up until your scheduled date of payment, provided you have set your payment date at least five (5) business days before payment due date. A "Stop Payment" fee of $15.00 will be incurred and debited from your account.

Q:  Can I do both a recurring and variable bill payment to the same payee during the same time period?

A:  Yes. If, for example, you have previously set up a recurring payment to a credit card company, and you wish to make another payment during that same time period on your credit card bill, you can set up a variable payment. It is important to note, however, that our Bill Payment Processing Center maintains a valuable safeguard to prevent duplicate payments. When more than one identical payment is requested for the same payee, amount and payment date, the duplicate payment instruction is automatically disregarded. This is important to know in case you should ever actually want to send two identical payments to the same payee on the same day. If you need to send two identical payments to the same payee account, separate the payment dates by at least one day or vary the amounts slightly.

Q:  Should I enter my online bill payment in my paper check register?

A:  Yes. Enter your online bill payments into your Farmers & Merchants Savings Bank check register or into your financial management software system (i.e. Quicken©) just like you would an ATM withdrawal or a regular check payment. That way, you will be able to properly reconcile your checkbook with your Farmers & Merchants Savings Bank statement each month.

Q:  What happens if I don't have enough money in my Farmers & Merchants Savings Bank checking account to cover an online payment I've set up?

A:  Despite the many advantages our Online Bill Payment Service offers, you still need sufficient funds in your Farmers & Merchants Savings Bank account to cover the payments you authorize. If you request a payment for more than the balance in your account, you may incur the same overdraft penalties as with a personal check. Farmers & Merchants Savings Bank Non-Sufficient Funds (NSF) fee is $20.00. This fee will be assessed each time the payment is presented, up to two tries. You will be notified at your email address on record that these fees were imposed.