Bill Pay is a service that speeds up the monthly check-writing chore. Instead of writing and mailing checks one-by-one, bill-pay users click boxes and type amounts. SBSU and CheckFree do the rest. The system requires initial setup. After that, paying a bill is as easy as logging into our web site from anywhere in the world. Please click on each of the topics above to get the most from our bill pay system.
Sign up for E-statements with any business or personal checking account**.
**Money Market accounts are excluded from the free bill pay offer because of the Federally regulated transaction restrictions, which limits withdrawals to no more than 6 by check per month.
CheckFree employs the risk model for paying bills. This means that funds are debited from the user's account at about the same time the bill is paid. The user keeps the float! With other bill-pay systems the money is taken before being sent to the payee. About 70% of transactions are handled by electronic methods. The remaining 30% is divided between laser drafts (a check that posts to the user's account) and corporate checks (a check from CheckFree's account). SBSU cannot control the payment method chosen by CheckFree.
The user picks which vendors to pay and the amount. The system automatically defaults to the earliest date the payment will reach the vendor, which the user may accept or adjust to a later date. CheckFree guarantees payments up to $50 if they are submitted with the correct information and scheduled to arrive before the due date.
Bill-Pay NSF Caution: Two NSF/OD fees may apply - one from SBSU and one from CheckFree. SBSU may return CheckFree's collection attempt because of insufficient funds (NSF) in your account, in which case you will receive two NSF fees, one immediately from SBSU and another from CheckFree at month end. Click here to review potential fees.
Money Market Caution: Federal regulations restrict money market withdrawals to no more than six (6) per month. A $10 fee is charged for each excess withdrawal. These limits make money market accounts poor candidates to associate with bill pay.
Stop Payments: SBSU or CheckFree stop payment fees may apply depending upon the payment type. CheckFree charges $25 per stop. See our fee schedule for SBSU stop payment fees.
Don't use the bill pay system for bank to bank transfers or for paying State Bank loans. There's a better way, as follows: