Electronic Bill Pay
When it comes to electronic bill payment, some may think that all programs are the same. Truth is, they’re not! MY CU Services is different from the rest. While service is key to our success, our uniqueness lies in the fact that we are a credit union system solution for EBP.
With those things in mind, there are three things to keep in mind about MY CU Services’ exceptional bill payment solution: It’s Convenient. It’s Contemporary. It’s Competitive.
With our solution, your credit union will experience an electronic bill payment program that offers simple and seamless service for you and your members, modern payment solutions and a product that will keep your institution top of mind.
OneClick – Consumer Bill Payment
MY CU Services’ consumer program – called OneClick – is a turnkey bill payment solution and easily integrates with your credit union’s homebanking provider. This solution enables your members to quickly and easily pay bills from multiple accounts, expedite payments and much more.
Here is how it works. Your members use the system by signing on and scheduling payments online. MY CU Services generates a file of bills the next morning to be paid in an ACH format and will either transmit the file to your credit union or make it available for you to download.
Once you have verified the funds, payments are sent to the merchants, and your credit union’s designated settlement account is debited. This settlement account can be held at the financial institution of your choice.
Special Payment Features:
QuickPay - “Hey Alexa, pay my credit card bill!” With the QuickPay EBP feature, your members can pay bills securely, review payment history and check scheduled payments with simple voice commands through any Amazon Alexa-enabled device. The device must have the Alexa app installed and an Amazon account attached.
CardPay - 44% of consumers prefer to make payments using debit cards and 33% prefer using credit cards. CardPay enhances your EBP solution with a funding option that supports near real-time bill payments using credit and debit cards.
P2P Payments - P2P payments allow your members to transfer funds from their account straight to another person's account. There are no checks, no exchanging of cash - just a quick online transfer from one individual to another. It's incredibly convenient and members love it!
Gift & Donation Checks - Send checks as gifts for special occasions or donations to your favorite charities through the EBP system! It's a convenient way to give the gift of money without having to write and mail a check.
Additional OneClick Features:
- eBill - electronic bill presentment
- Bill payments - electronic payments
- Rush payments - expedited payment distribution and tracking
- Inter-bank transfers - institution-to-institution money transfers
- Live chat - instant message bill pay support
- Extended support hours - increased customer service availability 24/7
- Check imaging - cleared check payments archive
- Extended storage - payment and eBill history archive
- Mobile API - mobile banking bill payment integration layer
- Notifications - alerts and push notifications
- Tracking - payment tracking through the U.S. Postal Service
- Scheduling - recurring or single payment scheduling
- Screen reader compatibility for the visually impaired
- No set-up fees (for CUs with assets $50 million and below)
Biz 2.0 – Business Bill Payment
Our business bill payment program – Biz 2.0 – is the online bill payment solution that’s designed specifically for your small business members. It is customized to meet their unique business needs, such as payroll and auditing.
With Biz 2.0, your business members will have the control and efficiency that may not be available in a consumer bill payment program.
Biz 2.0 Features:
- Delegate payment and invoicing permissions
- Set dual account signature requirements to control the approval process
- Send payroll deposits to multiple accounts
- Create customized auditing reports
- Extended support hours
Need electronic bill pay marketing materials, demos and more? There are many electronic bill pay resources available for your credit union.