Bill Pay Video Transcript

Hello and thank you for taking time to view this video regarding our upcoming Bill Pay conversion. As we have been communicating over the past few months, we here at River City Bank will be making changes to our Bill Pay process during the weekend of September 19th. When you access your Bill Pay menu on Monday September 21st, you will notice some of these changes. Let’s take a closer look at some of the key changes and how the Bill Pay menu will look after the changes go into effect.

After the change, you will now be selecting a Send On date.

Here we see the updated user interface and it reflects how this change will be after the conversion date.

After the change, you will see that you are now prompted to select a Send On date. However, the benefit of this change is that the calendar will also show you the expected delivery date based on the send on date you select. In this example, if you were to select September 3rd as the Send On date, the expected delivery date will be shown as September 10th.

A key impact of this conversion is that the lead days required for both electronic and check Bill Pay payments is increasing by 1 business day. It is very important that you take this into account when scheduling your payments.

Including the Send On Date, electronic payments will now take 3 days to be received by the payee

Including the send on Date, check payments will now take 5 days to be received by the payee (this is also subject to US Postal Service delivery times).

Now that you have a better sense of the interface changes, let’s talk a little bit about what you need to do before the conversion weekend.

As discussed at the beginning, regardless of whether we go by the current method or the new method, all payments have a send date and a delivery date.

However, because we will now be basing payments on the Send On date and because there is an extra lead day for all payments, you will want to log in prior to the conversion weekend and double check that any scheduled or recurring payments will arrive to the payee on or before the date that you intended.

If you take no action, it is likely that your payments will arrive to the recipient after the date you currently have scheduled as your Deliver By date.

In addition to the changes we have discussed, there are a few other key processing changes worth discussing.

Most notably, check payments will no longer be drawn off of your own personal account. The checks will no longer have your RCB account number on them which helps protect you in the event the check is intercepted. Bill Pay checks will instead be drawn off of a dedicated Bill Pay account. Through your Bill Pay menu, you will be able to keep track of what items have reached the payee and have cleared and what checks are still outstanding.

The other notable change is that the account you use for Bill Pay will be debited on the Send On date. This is the case for both electronic and check payments. If your account does not have enough funds or has any account restrictions on it on the Send On date, then the payment will not be sent. You will be notified via e-mail and will then need to re-schedule the payment.

The first thing you’ll notice is that now we are going to be selecting a Send On date.

This time we’ll pretend we are paying Cox Communications and we’ll select the calendar icon.

As you can see, we are now selecting the Send On date. Any date that is bolded is eligible to be selected as the Send On date.

As we discussed, it will also show you the Deliver By date based on the Send On date that you pick, which will help you better schedule your payments.

Cox Communications is able to receive electronic payments. You’ll now notice that the lead time has increased by a day and is now three days.

Today is September 2nd. 3rd and 4th is when it will be received. Three days.

If we look at ATT mobility which is able to receive their payments as checks, the lead time has now increased to five days.

Again, today is September 2nd. 3rd, 4th, the 7th is a holiday, its labor day, 8th and 9th. That’s the fifth day and that is when the check will be received. Again, that is subject to delivery times by the US Postal Service.

I hope this video has been useful in showing you the before and after changes of our Bill Pay Conversion.

As always, if you have any questions, feel free to reach out to us by calling any of our two customer service numbers and for more information on the Bill Pay changes, please view the Bill Pay FAQ Page shown as the link here on this screen.

Thank you very much.