Learn More - Click Here!

Thread Options
#1712720 - 06/21/12 02:27 PM Closing Bill Pay For Non Use
pweiss Offline
100 Club
Joined: Mar 2011
Posts: 103
CA
Hello all,

Does anyone shut down Bill Pay services for non-use? How long do you all the service to go dormant for? 3-months, 6-months, longer...?

We are considering doing this after we update our disclosures and sendi out notifications. I wanted to see if anyone has done this because I can't seem to find any language stating you can or can't.

Thanks,
_________________________
Phil Weiss, CAMS

My opinions are my own and not that of my employer.

Return to Top
Operations Compliance
#1712721 - 06/21/12 02:28 PM Re: Closing Bill Pay For Non Use pweiss
pweiss Offline
100 Club
Joined: Mar 2011
Posts: 103
CA
...that should be "How long you allow* the service to go dormant for". -sorry
_________________________
Phil Weiss, CAMS

My opinions are my own and not that of my employer.

Return to Top
#1712766 - 06/21/12 03:22 PM Re: Closing Bill Pay For Non Use pweiss
tdogz Offline
100 Club
tdogz
Joined: May 2012
Posts: 229
We don't do anything special for bill pay expiration. Our online banking accounts drop off of the system after a year without a log on & bill pay drops off with them. Even after that long, we still get some upset customers because they have to setup their payees again (even though they haven't used it in 12+ months!). If you can recover their payees if they want to turn bill pay back on, then a 3-6 month range could work. If they would have to start over from scratch, then I would recommend a longer period to limit the number of upset customers.

Return to Top
#1712821 - 06/21/12 04:22 PM Re: Closing Bill Pay For Non Use pweiss
Neytiri Offline
Platinum Poster
Neytiri
Joined: Jul 2002
Posts: 645
Pandora
We terminate billpay service after 90 days of non-use. The bank is paying for something that isn't being used so why let it just hang there? $$ that could be put to better use. If you have 500 inactive billpay customers at $5 per month, the bank can save...well you can do the math.

Return to Top
#1712906 - 06/21/12 06:24 PM Re: Closing Bill Pay For Non Use pweiss
BurntSienna Offline
Diamond Poster
Joined: Aug 2006
Posts: 2,407
Midwest
Our parameters are set to 90 days for bill pay, 6 months for internet banking. Don't use it, you lose it. We aren't going to continue paying for it, and more importantly, we don't want the added risk of a "dormant" internet banking account falling victim to fraud.
_________________________
"Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow." - Melody Beattie

Return to Top
#1712910 - 06/21/12 06:29 PM Re: Closing Bill Pay For Non Use pweiss
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
We have our bill pay paramenters to go inactive at 90 days. At that time we charge the customer $5/month until they go active again.

Return to Top
#1713921 - 06/25/12 08:42 PM Re: Closing Bill Pay For Non Use pweiss
St Louis Jeff Offline
100 Club
Joined: Jun 2007
Posts: 105
After 6 months, we delete an Internet Banking client for non-use (defined as "not signing on for the last 6 months"). This closes their bill pay as well. The only exception we make is for IB clients with bill pay who have an automatic, recurring bill payment set up. We leave them on the system because, even though they haven't used IB actively, they are still paying a bill in the form of a preauthorized ACH debit.

Return to Top
#1715610 - 06/28/12 08:32 PM Re: Closing Bill Pay For Non Use pweiss
Sqwonk Offline
New Poster
Joined: Feb 2009
Posts: 11
Milwaukee, WI
We charge $1 each month that BP is not used.

Return to Top

Moderator:  Andy_Z, John Burnett