What is External Loan Payment?
External Loan Payment is an application that allows you pay your BayPort loans with external accounts (external financial institutions); and you can make this payment via ACH.
How do I use External Loan Payment?
1. Login to Online Banking. If you need help accessing your Online Banking account, or need help setting up your Online Banking account, please contact us.
2. Go to the "Move Money" tab on the blue menu bar.
3. Choose "External Loan Payments' from the drop down menu.
4. Enter information from the external financial institution (BayPort Credit Union accounts are ineligible as you can perform a transfer to make a payment from a BayPort account).
5. Select the appropriate BayPort Loan(s) and enter payment(s) information.
6. Accept the Terms and Conditions after reading.
7. Confirm payment.
How can I make a payment from my external account, once I create it within External Loan Payment?
To make a payment to an added external account, once in External Loan Payment, access 'Manage external accounts' in the right hand corner. Then click 'Click here to pay from this account' on the account of your choosing. This will take you to the payment screen to make a loan payment.
How are payments processed?
Payments submitted before 2PM ET Monday through Friday will process to your BayPort loan account on the next banking day. The payment will clear your funding account within 2 banking days. If payment is made after 2PM ET Monday through Friday or on a Saturday, Sunday or Federal Holiday please allow two banking days for processing.
What loans can I pay with External Loan Payment?
You can pay all BayPort loans with External Loan Payment, with the exception of Credit Cards and Mortgages. If you are trying to make a payment to your Credit Card and/or Mortgage, please use ‘Make/Schedule a Transfer’ under the ‘Move Money’ tab with Online Banking.
What type of payments do you except?
We DO NOT support debit card or credit card payments. We only accept electronic (ACH) payments from financial institutions within the United States, and we will only accept funding accounts from the United States. If you are currently located outside the United States please contact us for assistance with paying your loan payment(s).
Can I set up recurring payments with External Loan Pay?
Yes, you can setup recurring ACH payments with a frequency of monthly, weekly or every two weeks. It can be set for a specific number of payments or until you cancel the recurring payment.
Are there any fees to use this product?
No, there are no fees to use this product.
What is the processing limit with External Loan Payment?
The processing limit is $9,999.99 within a 30-day time period.
ATTENTION CURRENT ONLINE LOAN PAY USERS: I need to cancel my Online Loan Pay payments. How do I do this?
You must login to your Online Loan Pay profile to cancel your recurring payments. To do this, please click here. We strongly encourage you to use External Loan Payment, instead of Online Loan Pay.
Can I use External Loan Payment outside of the United States?
Yes, you can use External Loan Payment in Online/Mobile banking, as there are no international restrictions. However, you MAY NOT use a financial institution outside of the United States to pay your loan