Electronic
Bill Payment Webinar Recording
If you missed the recent Electronic Bill Payment Webinar, on May
22, a replay is now available. Teresa Stetler, Corporate Account
Manager, discussed the benefits of offering electronic bill payment
through MY CU® Services, LLC, a CUSO of Mid-Atlantic Corporate
FCU. This one-hour webinar was designed for credit unions
not currently using MY CU® Services for their electronic bill
payment processing. If you missed the webinar, or if you
are interested in viewing the session again, click
here.
System Independent
MY CU® Services LLC’s Electronic Bill Payment (EBP) service
can easily be integrated with products offered by any home banking
provider or data processing system. Our service also may function
as a stand-alone EBP system.
Flexibility
All of the components needed to customize your EBP service are available
with no requirements to purchase expensive package deals. This guarantees
a solution uniquely suited to your credit union.
In-House Processing
MY CU® Services processes all payments in-house through Mid-Atlantic
Corporate, including paper items. It’s common for other EBP
providers to outsource the remittance of payments, therefore, giving
up control of the process. Should a problem arise with your members’
payments, MY CU® Services’ “one-stop shop”
makes research easy.
Electronic Remittance
MY CU® Services functions as a dual processor for the remittance
of EBP payments. The CUSO can and will make payments electronically
when possible. When necessary, MY CU® Services is capable of
remitting paper items as well. Regardless of the remittance method
needed, the process is transparent to the bill payer.
No Check and List
It is MY CU® Services’ policy to never submit check and
list remittance when processing EBP payments. A check and list remittance
is one check sent to a merchant with a stub containing a list of
names and account numbers for several customers. Most merchants
don’t have a system to accurately credit accounts based on
a check and list remittance, thus causing problems for your members.
On-line Administrative Database
MY CU® Services’ administrative level on-line research
database enables your credit union to maintain user lists, store
pricing schedules and edit pricing criteria. In addition, your credit
union can resolve payment inquiries for its members including checking
for clear dates, stop payments, merchant returns and printing images
on-line.
Select the following link to download a recording of the EBP Webinar.
Watch and listen, as Aaron Russ, EBP Implementation Coordinator,
demonstrates the administrative functionality for the MY CUŽ Research
website. Please note that you will need Windows Media Player and
Java on your computer to view the presentation correctly. Click
here
On-line Research Database
If your credit union chooses to do so, MY CU® Services can provide
your members with their own access to the on-line research database.
This capability makes it possible for your members to research their
own payment inquiries on-line, anytime and without contacting the
credit union or MY CU® Services.
Billing Files
MY CU® Services will maintain member billing files for your
credit union so you don’t have to. You supply the billing
criteria and MY CU® Services takes care of the rest.
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