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Example 1: Future Payment, 2
days to pay
Today is Monday, March 20th. Payment is due to merchant on Friday, March
31st. This merchant takes 2 business days to pay.
Answer: When initiating the payment to the payee, enter
March 30th as the payment date since there are no holidays or weekends to
account for and March 30th is a date in the future.
| Sunday |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
Saturday |
| 19
|
20
|
21
|
22
|
23
|
24
|
25
|
|
26
|
27
|
28
|
29
|
30
Day 1
(1st
business day)
|
31
Day 2
(2nd
business day)
Payment
DUE
DATE |
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Example 2: Future Payment, 5
days to pay
Today is Monday, March 20th. Payment is due to merchant on Wednesday, March
29th. This
merchant takes 5 business days to pay.
Answer: When initiating the payment to the payee, enter
March 23rd as the payment date since there are no holidays to account for and
March 29th is a date in the future.
| Sunday |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
Saturday |
|
19
|
20
|
21
|
22
|
23
Day 1
(1st
business day) |
24
Day 2
(2nd
business day) |
25
|
|
26
|
27
Day 3
(3rd
business day)
|
28
Day 4
(4th
business day)
|
29
Day 5
(5th
business day)
Payment
DUE
DATE
|
30
|
31
|
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Example 3: Today payment, 2 days to pay
Today is Monday, March 20th. Payment is due to merchant on Tuesday, March
21st. This merchant takes 2 business days to pay.
Answer: Since today is Monday, March 20th and you are
scheduling the payment today, your payment won't arrive to your merchant until
Wednesday, March 22nd. When scheduling a payment with "Today's" date,
"today" doesn't count as a business day when calculating the days
required to get it to your merchant. As a result, your payment would arrive past
the payment due date and you would be responsible for any late fees or finance
charges.
| Sunday |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
Saturday |
|
19
|
20
Entered payment in
Bill Pay to pay today
|
21
Day 1
(1st
business day)
Payment
DUE
DATE
|
22
Day 2
(2nd
business day)
Payment
arrives late
|
23
|
24
|
25
|
|
26
|
27
|
28
|
29
|
30
|
31
|
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SCHEDULING TIP: If you use today's
date as the payment date when scheduling a payment, your Days
to Pay starts the NEXT business day. But if you enter the next business
day from today as a future payment date when
scheduling, that payment date counts as Day 1 of
your your Days to Pay and the payment gets there just as fast as a Today
payment. Therefore scheduling a Today Payment is not any faster than scheduling
your payment for the next business day -- and your account is debited on the
payment day rather than as soon as you end your session.
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