FAQs on Automatic Payments

An automatic payment gets paid by establishing the interval when the payment should be made, along with other supporting payment details.You specify the amount, the frequency, the start date and the end date or the number of payments to make (for due date models it is number of payments instead of end date). Based on the duration of the loan you could also establish the end date of the automatic payment rule. For example, you could have us schedule a payment for your car loan in the amount of $300 on the 1st of every month for the next 36 months.

A manual payment means that you do not wish to set up an automatic or recurring payment. Instead, every time you want to make a payment, you manually enter the amount and send on date. This is the default payment rule for each payee you add.