What is the difference between bill pay and transfer




















You need only to set up a recurring payment once in the system and only call again when the payment is to be changed or canceled. Otherwise, your recurring payments will be made automatically.

You may schedule payments to be initiated on the day you enter the information, on a future date or on the same date each month. Although you can enter payment information 24 hours a day 7 days a week, payments can only be initiated on business days.

After funds are withdrawn from your account, we may remit your payments by electronic funds transfer, or if the biller does not accept electronic payments, by mailing your payee a check drawn on an account we maintain for this purpose, or by some other appropriate means. Because of the time it takes to remit your payment to the payee, they will not receive payment on the processing date the date you instructed us to deduct the funds from your account. Therefore, in order to provide sufficient time for payments to be received by your payee, the processing date should be at least five 5 business days before the bill's actual due date.

Although a number of your payees accept payments electronically, many do not. For those that do not accept electronic payments, we must send a check to that payee through the U. Once the check is received by the payee, it may also take a day or so for that payee to process the check and post it to your account. Even for electronic payments, it may take two or three days for your account to be posted. You can change or delete a bill payment up until five business days before payment date for items to be paid by check, or two business days if payment is to be electronic..

First, be sure to allow the five 5 business days for a payee to receive your payment. If a payee does not post your payment within five 5 business days of the date you requested the payment to be processed, either call the toll free number on the bill pay site or give us a call at the bank.

We will follow up on the payment and get back to you as soon as possible. Payments will appear on your monthly statement as well as being listed in your online banking history. However, this does not influence our evaluations. Our opinions are our own.

Here is a list of our partners and here's how we make money. If you juggle rent or a mortgage, cable and electricity bills, credit card payments and more, online bill pay can save time and help you avoid late fees. Online bill pay also allows you to manage your payments to various companies — all in one place.

How online bill pay works is straightforward: Log in to your bank account, navigate to its online bill pay feature, then select the provider you would like to pay. You can also choose a one-time payment or set up a recurring one. Many banks offer basic bill pay service for free with their checking accounts, though they may charge for extra features, such as being able to access transactions from Quicken financial software.

Many merchants and service providers offer the option of letting you receive an e-bill, or an electronic version of your paper bill, into your online bill pay account. If an e-bill arrives, you can have your bank alert you by email, text message, or push notification via the bank app. Typically, you can choose whether to pay the entire balance, just the minimum due or another amount. An alternative route is to click "Payments and Transfers" and then click "Your Citi Accounts" which takes you to "Select Accounts" which again is where you want to be.

The terms Payment and Transfer are synonymous here. No, there is no difference between transferring money and making a payment on the Cit web site. As others have stated, when you 'make a payment'.

This means you can use a number of sources; bank accounts, e-checks, debit cards etc. If you already have an account with them and it states "transfer payment". Sign up to join this community. The best answers are voted up and rise to the top. Stack Overflow for Teams — Collaborate and share knowledge with a private group. Create a free Team What is Teams? Learn more. What is the difference between transferring and making a payment on a credit card?

Ask Question. Asked 2 years, 4 months ago. Active 2 years, 4 months ago. Viewed 6k times. You can accept this date or change it. See a summary of your recent and pending payments. Set up payment Reminders and receive Alerts when a bill has been paid. Receive some of your bills directly into your secure Bill Pay site — these are known as E-Bills. You can view and pay these E-Bills at the Payment Center. You can set up automatic payments to pay your E-Bills or to automatically schedule payments that fall within a set amount.

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