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Advice on bill pay and getting overdrawn

Mark Cappel
UpdatedNov 8, 2007

In a bill pay servie are my funds withdrawn imeediately for a future scheduled payment?

Question: I like to enter my VISA bill in bill pay as soon as I get it and have the payment made the day before it is due. There is a large enough balance in my checking account to cover the VISA bill now, and I also will be getting another paycheck before the date the payment is to be made. My question is, if in the meantime, outstanding checks come in and reduce my balance below the amount of the future bill payment to VISA before my paycheck is deposited, will I be overdrawn?

Answer: When you get the bill from your credit card company, with bill pay, you can either pay the bill immediately or schedule a payment on a particular date. If you do end up scheduling the payment, the debit to your account will only happen on the date that you specified. For example, if your due date is the 15th of the month and if you schedule a payment for the 14th (given that 14th is a business day and does not fall on a weekend), the debit to your account will only happen on the 14th. As long as you have sufficient balance to cover the payment on the 14th, it does not matter if the balance in your account goes below the required amount prior to that date.

On the other hand, if in case for some reason there aren?t sufficient funds on the 14th then your account will be overdrawn on your account or the payment might be returned. You can get more information about bill pay services at

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