Couple smiling and paying bills

What is Bill Pay?

What is Bill Pay, and How Does it Work?

Bill pay is a service that allows you to send money to individuals or businesses. Automated payments are set up at and processed through your online banking. It is a "one-stop-shop" for paying bills. You can set up automatic bill payments for recurring or one-time payments. 

How Bill Pay Works:

When you have scheduled a Bill Pay payment, the payment will be processed in one of the following ways. 

  • Business Payments
    • An electronic payment is generated, which debits your account and credits the business's account. 
    • If the company you are paying is not set up to receive electronic payments, your account will be debited, and a check will be mailed on your behalf to the company.
  • Person-to-Person Payments
    • An email will be sent to the receiver on your behalf. From there, the receiver can enter their own bank account information, and an electronic transfer will be initiated. 

Why should you use Bill Pay?

There are many reasons you might want or need to use Bill Pay:

  • Managing your finances more efficiently
  • Saving time
  • Avoiding late fees
  • Consolidating all your accounts in one place without having multiple logins and passwords
  • Sending a family member or friend money
  • Set up recurring transactions so you can "set it and forget it" 

Are there any limitations on Bill Pay?

For security and your protection, we do set limitations on Bill Pay. There is a $2,005 daily limit on Person-to-Person transactions. Business payments may exceed the $2,005 per day. This is for your protection. If a hacker were to gain control of your online banking, they would not be able to send more than the daily limit. If you ever need to send more than this, contact us to temporarily increase your limit to allow you to process the transaction.

How to get started with Bill Pay:

Bill Pay is available to all our Exchange Bank customers with checking accounts; however, you need to be enrolled to get started. Visit the Payments tab to enroll your account into Bill Pay. Once you are registered, you can enjoy having more control over your finances. If you have any questions, our team is happy to assist you. Please stop by one of our offices in Milledgeville, Gray, or Lake Oconee or give us a call at 478-452-4531 to speak with a customer service representative.