How do I set up an automatic bill payment?

With so many bills to keep track of, it’s easy to forget a payment. You can set up pre-authorized payments and schedule bill payments to ensure your bills are paid on time, every time, whether you remember them or not. There are 2 ways to set up an automatic payment:

1. What is a Pre-authorized payment?

• A regularly scheduled payment to a vendor from one of your accounts, usually monthly. Each month, the payment will be debited (paid) from your account
• Some popular vendors include: hydro and other utilities, loan payments, mortgage payments, credit cards, strata fees, insurance (ICBC), municipal taxes, etc. Learn more
• To set it up, simply go to your online banking account and download a void cheque where you can find all the information you need.

Online Banking:

You can download a void cheque by following the steps below.

 

Log in to online banking and select the account you want your direct deposit or pre-authorized payments to go through
Once you’ve selected the account, click on the link that says “Direct Deposit and Pre-Authorized (PAD) Form” and download the form.

 

Alternatively, you can set up by obtaining the instructions from the vendor directly – you may need to submit a form by mail or online. The vendor will ask for either a blank voided cheque or account details – such as your transit, financial institution, and account number.  To locate them, please refer to below.

Step 1: Log in to online banking and select the account you want to pay your bills from. Take note of 12-digit financial account number
Step 2: click “More Details” you’ll find the Transit and Institution Numbers that vendors are looking for

 

 

Vancity mobile app:

Step 1: Log in and tap “Accounts”
Step 2: Select the account you want to pay your bills from
Step 3: tap “Account Details” you’ll find the Transit, Institution, Account Numbers that vendors are looking for

2. What is a scheduled bill payment?

Schedule a future-dated payment(s) on your own using online or mobile banking. Here’s how:

Online Banking:

Log in to online banking (mobile) click “Pay Bills”
Click Confirm
Done!

Vancity mobile app:

Log in to the Vancity mobile app tap “Pay Bills”
Select Account you want to pay from
Tap “Select Payee” Select Payee
Complete the payment details: enter Amount tap “Later choose future payment date tap “PAY THIS BILL”
Review payment details and if they’re correct, tap “CONFIRM”
When you see “Bill Payment Status: Complete”, you’re done. Tap “SCHEDULED BILL PAYMENTS” to see all scheduled bill payments You’ll see all your scheduled bill payments listed by date

Related posts:

How do I set up automatic payment to my Vancity enviro Visa card? How do I add or delete a bill payee? How do I find my branch/transit number, financial institution number and account number? How do I set up a recurring transfer?