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Farmers Insurance Federal Credit Union
 
  1. What kind of equipment and software do I need to access my Credit Union's Online Banking?
  2. Is the Internet safe and secure for Online Banking?
  3. Can anyone else see my account information?
  4. What if Online Banking isn't working? Will my payments be made, will my transfers go through?
  5. How long does it take for a payment to reach my payee?
  6. What if I don't sign up for Bill Payment initially and later decide that I want to sign up?
  7. Are all my accounts in Online Banking?
  8. Can I have more than one Checking Account in Online Banking?
  9. How current is this information in Online Banking?
  10. What payment date should I use?
  11. How soon are the funds actually taken out of my account?
  12. What happens if I don't have enough money in my account to cover a bill payment?
  13. When and how are my payments delivered, and how can I ensure that my payee receives my payment on the due date?
  14. Why does it take a few days to process payments?
  15. What should I do if a payee has not posted my payment?
  16. How can I prove payments and transfers were made?
  17. How much does it cost to use Bill Pay?
  18. How will payments be made?
  19. Can I choose the method of payment?
  20. Does the Credit Union's Online Banking work with other accounting software like Quicken®, Quickbooks®, Money®)?
Question #1
What kind of equipment and software do I need to access my Credit Union’s Online Banking?

Answer:
You'll need an Internet Service Provider, a modem (28,800 baud or higher is recommended), and Browser software which supports Secure Sockets Layer (i.e. Netscape 4.x or newer, Microsoft Internet Explorer 4.x or newer. Latest browser version is recommended).

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Question #2
Is the Internet safe and secure for Online Banking?

Answer:
Yes. Data on the Internet is safeguarded by encryption as it moves between systems. Data residing on a system can only be accessed by using an authorized sign-on ID and Passcode. Any kind of breach in the security of our systems would be a serious business issue. Our success depends on our ability to manage these systems safely and to continue to earn your trust as our member. Please be assured that we will take every measure possible to protect the financial information and resources you have entrusted to us. You can help safeguard your information and the banking systems by protecting your Sign-On ID and Pass Code.

Any kind of breach in the security of our systems would be a serious business issue for the bank. Our success depends on our ability to manage these systems safely and to continue to earn your trust as our customer. Please be assured that we will take every measure possible to protect the financial information and resources you have entrusted to us.

You can help safeguard your information and the banking systems by protecting your Sign-On ID and Pass Code. A proper combination of your Sign-On ID and Pass Code is the only way to get access into your account. Please be careful to keep this information secure.

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Question #3
Can anyone else see my account information?

Answer:
Your online account information is available to our Member Service Representatives who are all bonded. Your information is not public. Outside of the Credit Union, only those with your Sign-On ID and Pass Code can access your information so keep it safe (and preferably, to yourself).

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Question #4
What if Online Banking isn’t working? Will my payments be made, will my transfers go through?
   

Answer:
If Online Banking and our back up systems were to go down, any transaction that has been processed, prior to the system going down, will go through. If you are ever in doubt, please call us to ensure your transaction request has been accepted.
   

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Question #5
How long does it take for a payment to reach my payee?

Answer:
Each payment made by Bill Pay will be processed either by check or by electronic funds transfer. If the payment is made through electronic funds transfer, it will take a matter of hours for the payment to reach your payee. Payments made by check, however, will be delivered via the postal service.br>    

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Question #6
What if I don't sign up for Bill Payment initially and later decide that I want to sign up?

Answer:
You can sign up for Bill Pay anytime you want. Just click on the Pay Bills button located on the Register screen. Simply accept the terms and conditions, and you can immediately start using the service.

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Question #7
Are all my accounts in Online Banking?
   

Answer:
The following accounts be found in Online Banking:
  • Checking
  • Savings
  • Loan, except Student Loans, Commercial Real Estate Loans and Home Loan
  • Certificates
  • IRAs

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Question #8
Can I have more than one Checking Account in Online Banking?
   

Answer:
Yes. You can have all of your Checking Accounts in Online Banking.
   

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Question #9
How current is this information in Online Banking?

Answer:
All transactions and balance updates are performed once per day. So any transactions you perform today that change your balance (i.e. deposits, ATM withdrawals), will be reflected the following business day.

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Question #10
What payment date should I use?

Answer:
Allow some time for the payment to reach your payee, so enter a date before the actual due date. Be sure to take into account that, although you can schedule a payment at any time, payments are actually initiated (sent to the payee) only on business days.

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Question #11
How soon are the funds taken out of my account?

Answer:
If the payment is made by an online check, the funds will be taken out of your account when your payee deposits the check and the item clears. If the payment is made electronically, the funds are withdrawn the date the transaction is processed.

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Question #12
What happens if I don't have enough money in my account to cover a bill payment?

Answer:
If your account has other accounts set up as overdraft sources, we'll draw against that. Otherwise, our Privilege Pay (can we link to that?) service will kick in to cover the payment. If that’s not available, the payment could be returned for insufficient funds.

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Question #13
When and how are my payments delivered and how can I ensure that my payee receives my payment on the due date?

Answer:
When you schedule a payment, your Credit Union warehouses the payment until it is time to process it. The time to process will vary depending on how the payment is to be made and how long it will take to get the payment to the payee.
   

Once the system has determined that it is time to process the payment, the payment is changed to a processing status. The payment is then processed by conducting an electronic funds transfer, or a check is produced and made payable to the payee from your account. The check is then sent to the payee via regular mail.

Since the system requires you to submit payment requests seven days in advance, this ensures there is sufficient lead time to process your request and get it to the payee by the date you specify.

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Question #14
Why does it take a few days to process payments?

Answer:
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.S. Mail. Once it 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 payment to be posted.

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Question #15
What should I do if a payee has not posted my payment?

Answer:
You need to allow a few days for your payee to process your payment. If your payee has not posted the payment to your account after a few days, send an online message to us to inquire about the status of the payment. Be sure to provide the item's reference number. The reference number is displayed on the Pay Bills screen under the "Ref #" column. The payment will then be traced and we’ll get back to you.

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Question #16
How can I prove payments and transfers were made?

Answer:
With each payment and transfer, you are given a reference number so you know we received it. In addition, payments and transfers will appear in your transaction history so you can see they were made.

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Question #17
How much does it cost to use Bill Pay?

Answer:
Your Credit Union’s Online Banking and Bill Pay is FREE! Isn’t that great?

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Question #18
How will the payments be made?

Answer:
We use two methods of payment:
  • Electronic - We send an electronic credit to your payee and electronically debits your checking account on your scheduled payment date.
           

  • Check - the old-fashioned way for those who cannot accept an electronic payment, but it still works!

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Question #19:
Can I choose the method of payment?

Answer:
No. We will process the payment electronically if possible. If not, then an Online Check is produced.
   

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Question #20
Does Bill Pay work with other accounting software (i.e., Quicken®, Quickbooks®, Money®)?
   

Answer:
Absolutely. Bill Pay was designed to be highly compatible with these popular software products. You can access the export capability from the Reports screen.