Read about Electronic Bill Payment at the bottom of this page.
Go to Internet Home Banking and Electronic Bill Payment after you read this page.
We recommend that you review this entire page prior to using Internet Home Banking and Electronic Bill Payment services. It is also a good idea to print this page for future reference.
LOST OR STOLEN PIN
Please notify the Credit Union immediately if you lose your personal identification number (PIN) or if you have any reason to believe that another person is using or may attempt to use your PIN without authorization. This PIN can be used with both our Internet Home Banking and STAR Teller telephone systems. The best and fastest way to report a lost/stolen PIN is to call us during business hours or visit a Credit Union office near you. Our phone numbers are (512) 469-7000 or toll-free at (800) 933-2029.
If you know your PIN and can access your account online, you may change it through the Home Banking system. When you do this, it will also change your PIN for the STAR Teller telephone audio response system.
If you have lost or forgotten your PIN, and are unable to access you're account online, please re-apply for a new PIN by visiting one of our offices, or call, write or e-mail your request for a STAR Teller/Internet Banking PIN application. Because of security concerns, we cannot assign your new PIN over the telephone or through our Internet Home Banking systems. Once we receive your application, we can activate your PIN very quickly, normally the same day.
DISPLAY SETTINGS - For optimal viewing of Velocity's Home Banking, set your display settings to 1024 by 768 pixels. This will ensure that you can see all of the navigation buttons clearly.
FILE DOWNLOAD CAPABILITIES - Internet Home Banking provides the ability to download a data file containing your account transactions. These files can then be imported into Microsoft Money, Quicken, Microsoft Excel or any other software package that accepts these file types. We recommend that you understand how your particular software package will handle these imported files prior to performing your first download. Many applications allow you to sort or filter certain transactions in order to better process your downloaded file. Failure to download and filter transactions properly could cause double entries or other errors in your money management software.
To locate the Internet Home Banking file download feature, after signing on to the system click the green "Accounts" icon to list all your accounts and then click on the green "View More" box next to the account that you want to download. A "Download" icon will appear at the top of the next screen.
TRANSFERS BETWEEN DIFFERENT MEMBER ACCOUNTS - The Home Banking system allows you to logon, view account information, and transfer funds within any member account number. However, transfers of money between accounts with different member numbers or owned by DIFFERENT members are not currently available through Internet Home Banking. Transfers are limited to within accounts owned by the same member(s) maintained under the same member number. In some cases, our Star Teller telephone audio response system will perform transfers between different member accounts, provided that the account owners and joint owners are the same on both accounts. Click here to view information about Star Teller. We expect that future enhancements to Internet Home Banking will provide for greater flexibility in transferring funds to other member accounts.
ABOUT "COOKIES" - Cookies are small data files that may be sent to your personal computer when you access some websites. They are used by web servers to track activity, identity and verify certain information sent between computers on the Internet. The Credit Union's Home Banking system uses cookies in a limited way. In fact, the system will not function at all if your computer refuses to accept cookies. If you find it impossible to connect to Internet Home Banking, cookies may be the root of the problem.
The option to accept or reject cookies is probably part of your browser's setup properties and you should check these settings if you have trouble connecting to or using any part of our Home Banking system. Cookies are a common part of Internet programming and, for the most part, present little danger to your system. If you want to use Velocity Credit Union Internet Home Banking, your personal computer must be able to receive cookies. If you are generally uncomfortable about accepting cookies, you can turn this option "on" when you visit our Home Banking site and turn it "off" when you are finished. Some browsers will warn you when a cookie is being sent and allow you to accept or reject it manually. Once again, check your browser's preferences or settings.
IF YOU HAVE PROBLEMS, please let us know by sending e-mail or call us at (512) 469-7114 or (800) 933-2029 and ask for Account Services. We will act quickly to resolve problems or provide assistance.
CONNECTING TO Velocity Credit Union HOME BANKING FROM WITHIN ANOTHER NETWORK: You may experience difficulty connecting with Velocity Credit Union's Home Banking system if you use a PC that is part of a network (like a LAN or WAN) that is connected to the Internet. Frequently, security barriers or "firewalls" on many networks can prevent connection with secure, encrypted Web sites (those with "https:" addresses) that depend on SSL security protocols. In some cases, we have seen where some users in a network are able to logon to secure Websites while others in the same network are not. If you experience difficulties in connecting from a networked PC, ask your network administrator about possible interference caused by a firewall, proxy server or other security device.
INTERNATIONAL USERS - Internet security protocols may be different for persons who are attempting to use Internet Home Banking or Electronic Bill Payment through computers or networks located outside the United States. Frequently, foreign computers and networks do not support 128 bit SSL security encryption which is required by our system. In some cases, these security issues will make it impossible for persons outside the United States to use our Internet Services. These security issues are beyond our control.
TIMEOUTS - The Home Banking system is designed to monitor user activity. The system will log you off after 15 minutes of inactivity (no data transferred). When using Electronic Bill Payment, it is best to have all of your bills and information in front of you before you logon to the system.
LOADING PAGES AND IMAGES - The Home Banking system works best when you allow each page to finish loading fully before you click to perform an inquiry or function. Sometimes, navigating from one section to another too quickly can cause problems. In general, this is not a problem with other Website activities, affecting only Home Banking.
FREE Electronic Bill Payment
User Tips and Information
Once you have read the information here,
click here to access Internet Home Banking and Electronic Bill Payment services.
Q: What do I need to get started paying my bills with Velocity Credit Union Electronic Bill Payment?
A: You will need your Velocity Credit Union member number, an active checking account, Internet access, a Star Teller/Home Banking personal identification number (PIN), and secure Internet browser software like Netscape Navigator 3.0 or newer or Microsoft Internet Explore, version 3.0 or newer. You can apply for a new checking account by contacting our Member Services Department. You may request a Star Teller/Home Banking PIN by or by contacting Member Services at (512) 469-7119. Internet access and software is up to you!
Q: What kinds of bills can I pay electronically through Velocity Credit Union Internet Home Banking?
A: You can pay almost any kind of bill on a one-time, recurring, or automatic basis. Only payments to local, state or federal governments are excluded. You can pay retailers, credit card companies, utility companies and even local providers like your plumber, flower shop or dentist. Some of these payees will receive electronic payments from our system, others will receive a paper check in the mail.
Q: What does it cost to use Electronic Bill Payment?
A: Electronic Bill Payment is much faster and easier than paying bills by check, and best of all it is FREE! You can pay as many bills as you like up to the system limit of 45 different payees. However, I may incur other charges and fees subject to use of the Velocity CU Electronic Bill Paying service such as insufficient funds fees, research fees, statement printing fees, check copy fees, etc., as are commonly incurred in using a checking account. See our fee schedule for a complete list of fees and service charges.
When you enter the Electronic Bill Payment system and click to accept the terms of our Service Agreement, you are signing up for the service. If you wish to cancel the service, you may do so online through the "Other Services" section of the Electronic Bill Payment system, or you can call us to cancel.
Q: Do I have to have a checking account to use Electronic Bill Payment?
A: Yes. You must have an active checking account. Money market accounts or regular share (savings) accounts will not function with the Electronic Bill Payment system.
Q: Are there any tips I should know about when I enter information about payees?
A: Yes. For each company, individual or organization you want to pay using the Electronic Bill Payment system, you will be required to enter information regarding the payee name, address, account name, account number, telephone number, etc. It is very important that this information is accurate and complete. Incomplete or inaccurate information is one of the most common reasons why some bills might not be paid on time, even though our system originates the payment on time
NOTE: Our system may automatically update your payment address if it locates a faster processing center. These updated addresses are verified on a continual basis to ensure your payment is directed to the appropriate processing center.
Here are some other tips that can help ensure accuracy:
- Have your bills in front of you before you begin entering payee information. The Electronic Bill Payment system has a time-out feature that will disconnect you if you take too long to enter the information
- Type your payee information in ALL CAPS
- Don't use dashes, parentheses, periods or commas in phone numbers or addresses
- Don't abbreviate payee names. Always enter the complete name for the payee just as shown on your bill or invoice
- If you have a non-toll free phone number for the payee, please give it. These phone numbers are sometimes more reliable than "800" numbers
- Make sure the information you enter matches your payee's billing information exactly
Q: Do all of my bills get paid by electronic transfer of funds to the payee?
A: No. Only some payees can receive funds electronically such as credit card companies, national firms or major retailers. Others must be paid by check. Velocity Credit Union's Electronic Bill Payment system maintains a list of those payees that can receive money by electronic transfer and automatically routes your payments to them. Currently, about 50% of the payees on our system can receive electronic funds. For other payees, our Bill Payment system prints a check that is sent to the payee by mail.
Q: How long after I originate a bill payment before the bill is actually paid?
A: In general, payments that can be paid by electronic funds transfer will be received by the payee within 2 business days. Payments that must be sent by check require up to 5 business days. Our Bill Payment system always suggests how many days to allow for a particular payment you make. It is up to you to make sure that you have allowed enough time for the payment to arrive on time.
Q: When are funds withdrawn from my account for Electronic Bill Payments?
A: When you use the system to pay bills, you will specify a date to process your payments (the "origination date"). This date could be today or some day in the future you designate. Your payments will be initiated on that day, or the next business day to it, and the day funds will be withdrawn from your account when payments are initiated. Payees will receive the funds 2-5 business days after they are withdrawn from your account.
Q: Are the payments that I make processed instantly?
A: No. Our systems process payments once per business day in a single "batch." So, transactions may not appear on your account history right away.
Q: What happens if I don't have sufficient funds in my account to pay the bills I originate?
A: If you have overdraft protection set up on your checking account, funds may be automatically transferred from your savings (share) account. If you do not have overdraft protection or if no funds are available, then your bills will not be paid. The Credit Union will mail you a notice when this happens and you will see a special warning notice on your computer screen the next time you sign-on to the Bill Payment program. You will also be subject to fees for insufficient funds. Therefore, it is very important for you to ensure that funds are available when needed to pay bills.
Q: Can I check the status of payments and payment history?
A: Yes. The system provides tracking of past payments for manual and automatic recurring payments.
Q: What kinds of receipts or documentation are provided with Electronic Bill Payments?
A: Your Electronic Bill Payment transactions will be available for you to review through our Home Banking system or through Star Teller once the payments are processed (normally on the next business day). Electronic Bill Payments are also itemized on your account statements each month. Each transaction carries a trace number than can be used to quickly research and verify your payments. If you like, you can also print out screens from your computer as you set up and pay bills on the Bill Payment system, but these are not official documentation for Credit Union purposes since they can be changed and edited by others.
Q: Am I protected against loss of funds due to errors with electronic transactions?
A: Your rights and responsibilities under law are outlined in the Federal Reserve Board's Regulation E which governs a variety of electronic transactions. In general, you are protected from loss providing you are responsible in reading your account statements and reporting problems or errors promptly. You were provided with a Regulation E disclosure when you opened your account with us. You may request another copy by contacting our Member Services Department or by .
Q: When using Electronic Bill Paying, is it necessary to wait until each screen loads completely before moving to the next step?
A: Yes. It is best to wait until each screen finishes downloading before moving to the next step. At times, the system will miss information and require you to input the information again if you go through the steps too fast.
Q: Is Electronic Bill Payment secure and safe to use?
A: Velocity Credit Union Internet Home Banking services use state of the art, 128-bit, SSL browser encryption to secure all information transmitted between your computer and ours. No security system is 100% foolproof, but 128-bit SSL encryption makes it virtually impossible for an unauthorized person to intercept or view any of your Home Banking information. Browser encryption security is considered by some to be much safer than the traditional ways that consumers use to pay bills and exchange information such as writing checks, sending payments in the mail, handing your credit card to a stranger, carrying cash, etc. For more complete information on Internet security issues, click here.
Access Internet Home Banking and Electronic Bill Payment (after you have read this page). You might want to print this page for future reference.
 |
