How TEUCU Bill Payments Work

If you have ever wondered the path your bill payment takes once you pay it at TEUCU, let us help you figure it out. All bill payments are sent electronically to our payer at approximately 8 am. So that means that any bill payments made via Homebank, telephone teller or in branch are collected and sent to Credit Union Central at this time. These bill payments are then collected, sorted and sent to the various merchants at approximately 4:30pm the same day, by Credit Union Central. Once the merchant receives the funds, any payment made is then credited to your personal account with them. To avoid any delays you can allow the merchant to take the payments straight out of your account via EFT, you can post-date payments online via Homebank, you can use the telephone teller, pay in branch and if you have plenty of time you can pay by cheque. Due to the fact that merchants are changing their account numbers on a continuous basis, TEUCU feels that these are the most effective ways for our members to pay their bills without having to place costly searches or traces for payments that have gone awry due to incorrect account numbers and unpostables. If you have any questions please call (416-542-2522), come in or visit us online ( www.teucu.com ).