Business Bill Pay

It’s a service from Security Federal Savings Bank that streamlines the back-office functions of your small business and allows you to make payments to virtually any individual or company through your online banking account.

Business Bill Pay was designed specifically to meet the needs of today’s small businesses. In addition to making payments, you can run customized reports, delegate tasks and set permission controls. It all adds up to give you more resources you need and more time to focus on your business.

You can pay virtually any business or individual with a mailing address within the United States and Puerto Rico. Examples include utilities, office supply bills, consultants or independent contractors.

Most payments are delivered electronically. Your payment information, such as your account number, is sent via secure transmission. All other payments are made by paper checks mailed via the U.S. Postal Service.

It’s one of the safest ways for your business to pay bills. Business Bill Pay helps guard against identity theft from lost or stolen checkbooks, bills and statements. It also increases privacy because only you can access your account information, account numbers and payment history.

Generally, your payment is received within two to seven days, depending on whether it is sent electronically or via paper check.

Most scheduled payments are sent electronically and funds are withdrawn from your account on the payment date.

The major benefits are true control and total convenience for you. This means you’ll be able to:

• Pay your business’s bills and view payment activity anytime, anywhere
• Delegate the payment responsibilities you want to
• Set permission controls so you maintain the final say
• Quickly run customized reports with the information your business needs
• Reduce your paperwork and bookkeeping
• Maintain more control over cash flow
• Increase your security over mailing checks

You can set up payees and start making payments in a few easy steps::

1. Go to the “Payees” tab
2. Click “Add a Payee”
3. Choose to add a company, individual, or bank or credit union
4. Complete form by providing requested information about payee and click “submit payee“
5. Then click “schedule a payment to this payee”

Yes. You can import payees from Quicken or QuickBooks directly into your Business Bill Pay account.

Business Bill Pay allows you to set up recurring payments for bills that are consistent every month. Examples include insurance payments, contractual payments or your office lease.

Absolutely. With extended remittance you can send a single payment for multiple invoices from a single vendor.

You can delegate the payment responsibilities you want, such as paying utilities and suppliers, running reports or accessing payment history.

Specify who can make payments, which payments they can make and the maximum payment amount. You can also set up final approvals so you give the go-ahead before any payments are made.

You can run reports that allow you to::

• Have the audit information you need
• Review your spending
• View the payment activity of your authorized users

This feature allows your small business to transfer money from different accounts. These can be set up as a one-time single transfer or recurring transfers. You can also move funds back and forth between your personal and business accounts to help facilitate operations.

Account-to-account transfers provide you with:

• Quick and flexible method for improving cash flow
• Anytime, anywhere transfer of funds
• Less expensive option than wire transfers

You can automate your payroll and expense reimbursement, saving time, improving organization and enhancing control. That means no more manual calculations, spreadsheets or check-writing. There is a service fee of $2.50 per file.

Payroll automation provides you with:

• Online access so you can handle payroll anytime, anywhere
• Payroll history that's automatically updated and stored for you
• Filter options that allow you to set salaried and hourly employee compensation parameters
• Reminder emails that help you stay on top of when payroll is due

eBill is a feature that allows you to receive and pay electronic summary versions of paper bills directly from your Business Bill Pay account.

eBills are delivered directly to your Business Bill Pay account. Once you set up an individual eBill for a company you do business with, an eBill comes directly from that payee to your account. Examples of businesses that offer eBills are cable service providers, phone service providers, utility providers and credit card companies.

Please contact the payee directly to ensure you continue receiving paper statements.

There are two easy ways to determine if a payee offers eBill. You can check to see if there is a “Set up eBill” link next to their listing on your Business Bill Pay home page, or look for the “Sign Up” icon under their name in the “View Payees” section.

With eBill, everything you need is in one convenient location. Using eBill allows you to streamline your bill pay routine and have online access to your bills. In addition, you can view past bill summaries at a glance.

Balance due, due date and minimum payment amount are included in your eBill. If you need additional details, there will be a link that lets you log in to your account on your payee's website.

To pay an eBill, simply choose the account you want to pay from, enter the amount you want to pay and schedule when you want the payment delivered.

You can sign up to receive an email notice to alert you when an eBill has been delivered to your account.