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Effective July 18, 2020, Edward Jones will be enhancing our online bill pay experience by moving to a new service provider, BNY Mellon Investment Servicing Trust Company (BNY). We have an established relationship with BNY as we also partner with them to offer our check writing and debit card services.
If you are enrolled in the current bill pay service and want to retain this service, you must review and accept new Bill Payment Service Agreement Terms and Conditions before July 17, 2020.
Current bill pay users have three options available, but only one action will maintain uninterrupted bill pay service.
You can access the new Bill Payment Service Agreement Terms and Conditions by going to the Accounts section in Online Access and accessing Pay Bills. From there, you will make your election. You can accept the terms and conditions or learn how to cancel your service.
The impact of this upgrade depends on what action you take prior to July 17, 2020. Following are more details.
|If you accept new Terms and Conditions||If you cancel your bill pay service before July 17, 2020||If you neither accept new Terms and Conditions nor cancel the service by July 17, 2020|
|Scheduled Single Payment||Will be uninterrupted and automatically moved to the new system||Will be terminated on the date you cancel the service||Payments with a "Send By" date prior to July 21, 2020 will be processed, but no subsequent payments will be made.|
|E-bills||Will be uninterrupted and automatically moved to the new system||Biller will be automatically notified of cancellation, but you will need to contact biller to make new delivery arrangements.||Biller will be automatically notified upon termination, but you will need to contact biller to make new delivery arrangements.|
|Recurring Payments||Will be uninterrupted and automatically moved to the new system||Will be terminated on the date you cancel the service||Payments with a "Send By" date prior to July 21, 2020 will be processed, but no subsequent payments will be made.|
|Transaction History||Will be moved to the new system||Will not be available after the service is cancelled||Will not be available after the service is terminated|
|How will "Send By" and "Deliver By" dates in the current/old system be moved over to the new system?||The "Deliver By" date in the new system will be the same as the "Deliver By" date in the current/old system.||Not Applicable||Not Applicable|
Bill payments being made electronically will be debited to your account on the "Deliver By" date, not the "Send By" date. Bill payments that are processed by a physical check will not be debited to your account until the check is presented by the Payee; this may not be the same date the check is mailed as is the standard in the current/old system.
You are expected to maintain a balance sufficient to cover your bill pay transactions. If the necessary funds are not available in your account, a margin loan becomes an option only if the account is margin eligible and you have accepted margin. Otherwise, your Edward Jones office will be in contact to help identify available funds.
Bill pay transactions will be consolidated into one section on your statement rather than appearing in two sections as they are in the current/old system. Within Online Access, transactions will appear a bit differently but will still be clearly described as Bill Pay transactions.
No, the BNY account number established for these purposes does not provide a means for you to have direct access to funds at a BNY location.
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