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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.

What does schedule payment mean?

Scheduled Payment means, with respect to each Receivable, the scheduled monthly payment amount set forth in the related Contract and required to be paid by the Obliged during each Collection Period.

What does schedule transaction mean?

Scheduled transactions can be created to track financial activities that occur on a repeating basis, for example a monthly mortgage payment or biweekly paycheck. When one or more schedules are associated with a template, transactions based on that template will be created in your accounts as the schedules dictate.

What does it mean when a payment is scheduled?

Scheduled payments are individual payments that are scheduled for a specific date prior to the bill due date. The date of a scheduled payment can be changed as long as it is adjusted before the date scheduled.

How long do scheduled payments take?

It can take over 24 hours for your bank to process the transactions and for the deposit process to be completed. Banks often refer to instant deposits as memo-posts or pending transactions. This information is recorded in your account as a deposit or payment and is pending until funds are secured.

How can I cancel scheduled transaction in SBI?

Log on to Setback. Go to the Transfers tab, then select Scheduled transfers. From the want to drop down menu to the right of the scheduled transfer you need to change, select Update or Delete and then click Go. Make your changes and Confirm.

How can I check my SBI scheduled transaction?

Click Payments/Transfers > Pending Transactions. A Pending Internet Transactions page appears and displays details of pending transactions as shown in Figure 1. Click a transaction reference number in the list to view transaction details.

What does automatic payment mean?

An automatic payment is an arrangement with a creditor that allows the creditor to periodically withdraw money from a credit card, checking or savings account to pay a bill. It is normally used for regular monthly payments such as a mortgage, rent or utility bills.

How does auto-pay work?

When you make an automatic payment, you're telling your bank to transfer money on a set date and for a set amount, to pay a bill. This essentially routes the funds electronically from your bank to the company you're paying (such as your credit card bill).

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