Making loan payments

You can make payments on loan accounts as well as set a custom principal and interest amount. Depending on your financial institution's configuration, loan payments or custom split payments may not be available or as described below.

To transfer funds

  1. Select Transactions > Funds Transfer to go to the Funds Transfer page.
  2. Select an account from the From Account list.
  3. Select a loan account from the To Account list.  
  4. For Payment Type, do one of the following:
    1. Select Standard Payment to make a standard loan payment on the displayed amount.
    2. Select Custom Interest and Principal to set a custom interest or principal payment. Interest payments are only made to the interest amount on the loan, and principal payments are made to the principal amount.
  5. Enter an Amount to pay.
  6. Select a Frequency. Payments can be made one time or recurring.  
  7. For one-time payments, do the following:
    1. Select a Send On date for the transfer.
      2. Note: The date selected is the date you want the transfer to be processed, not the date the funds will become available. If you select today's date for an external transfer to another FI, your FI may charge an additional processing fee. In addition, depending on your FI's configuration, Same Day ACH transactions may not be available depending on the day of the week or time of day.
    2. If you're sending a transfer on today's date, select a Deliver By date you want the transfer to be delivered by.
  8. For recurring payments, do the following: 
    1. For a weekly or bi-weekly recurring transfers, select a Day of the week you want the transfer to be created on.
    2. Select a Start Date for the recurring transfer.
    3. In the Repeat Duration field, select either Forever or Until Date.
    4. If you selected Until Date, select an End Date you want the recurring transfer to stop.

  9. (Optional) Enter information about the payment in the Memo field.
  10. Review your payment and select Approve.

After the transaction is processed or scheduled, a confirmation message appears. Select Close to set up another transfer, or select Manage Transfer to review the transfer in the Activity Center.