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Common Questions about Online Bill Pay System Change

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. 

What do I need to do?

Current bill pay users have three options available, but only one action will maintain uninterrupted bill pay service. 

  1. Accept the new Bill Payment Service Agreement Terms and Conditions through Online Access before July 17, 2020, to maintain uninterrupted service. 
  2. Cancel your service through Online Access before July 17, 2020, if you have decided you no longer want to use this service. 
  3. Take no action: The process to automatically terminate your bill pay service will begin July 17, 2020, at 4 p.m. CT, if you have not accepted the new Terms and Conditions before July 17, 2020 or have not cancelled your service at an earlier date. Payments with a "Send By" date prior to July 21, 2020, will be processed, but no subsequent payments will be made.

How do I make my election? 

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. 

  • Clients using the new Online Access system will find Pay Bills under the Account Actions drop down in the Accounts section. 
  • Clients using the legacy Online Access system will find the Pay Bills button at the top of the Accounts screen.

What are the primary differences between the current/old system and the new one? 

  • The new system provides more flexibility around scheduling payments and simplifies the process. Rather than scheduling a payment based on a "Send By" date and a "Deliver By" date, you will only have to select a "Deliver By" date. 
  • The look and feel of the new system will be very similar to the current/old system. One important difference is that the partially masked account number referenced in the new system will not be your Edward Jones account number. Rather, it will be your BNY account number associated with your Edward Jones account.
    • To facilitate bill pay transaction processing, you will have to have a BNY account number. If you are not using check writing services at the time of this system upgrade, you will be assigned a BNY account number. This is dependent on your acceptance of the new Terms and Conditions, which results in you being assigned a BNY account number. This number will be communicated to you by a letter when the upgrade occurs. (Note: This process does not enroll you in check writing but establishes a BNY account for bill pay transaction processing purposes.)

How does this upgrade impact my current bill payment processing?

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

Are there timing differences as to when my Edward Jones account will be debited in the new system versus the current/old one? 

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. 

What if funds are not available to cover the bill pay transaction? 

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. 

How will this system upgrade impact the way bill pay transactions appear on my monthly statements and within Online Access? 

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. 

If I use check writing services and/or bill payment services offered by Edward Jones through BNY, can I access my funds directly at a BNY location? 

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. 

How does Edward Jones protect client privacy? 

Click edwardjones.com/privacy to learn more about our privacy and security policies.

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