Online Bill Payment Guarantee: Policy and Terms

Unlimited coverage for payments up to $25,000.

If, for reasons beyond the member's control, a properly scheduled payment is applied late, Patelco Credit Union will ensure that late fees and finance charges are removed by the payee (or paid by Patelco Credit Union) and that the member's account at the payee is appropriately noted.

It is important to note that the Payment Guarantee applies to late fees and finance charges only. The Guarantee does not cover losses incurred due to late payment or posting beyond standard late fees and/or finance charges. For example, if a member submits a payment for a securities trade that was not paid or posted on time, Patelco Credit Union shall not be liable for the unrealized transaction.

If you incurred a fee and/or finance charge that adheres to the listed conditions, please contact us at by sending us a secure email to find out how to submit a statement showing the incurred charges.

Terms and Conditions

The Payment Guarantee applies to late fees and/or finance charges associated with the late posting of a payment, provided that the following conditions are met:

  • The payment was scheduled for processing at least three or eight business days prior to the due date, excluding any grace periods. (The one exception to this guideline is that mortgage payments should be sent on or before the due date. For example, a mortgage payment due on July 1st, with a 15-day grace period, must be scheduled for processing by no later than July 1st). Three-business day payments are remitted to electronic merchants, and eight-business day payments are remitted to check merchants. (A business day is defined as Monday-Friday
  • The payment was NOT made to an "exception" payee:1
    • Tax entities
    • Collection agencies
    • Court-ordered payments such as alimony, child support, speeding tickets, etc.
    • Payments to payees located in the Armed Forces postal codes such as AE and AP
    • Payments to settle securities transactions
    • Payments to payoff "special financing" transactions
  • The information supplied by the user is correct (payee name and address, user name and account number as it appears on the payee's records).

In cases where Patelco Credit Union assumes responsibility for a late payment, late fees and/or applicable finance charges will be paid on behalf of the member if the payee is unable or unwilling to remove these charges from the account.

Please note that the guarantee does not imply that payments will be delivered and posted within three or eight business days, since the post office controls the delivery date and the payee controls the actual posting date. Although Patelco Credit Union cannot control these actions, we do take responsibility for these actions, for properly scheduled payments.

The following is an overview of responsibility for paying late fees or finance charge penalties:

Reason for Late Payment

Responsibility for Paying Fees and Charges




Lost, cannot determine reason


Not sent to payee as scheduled


Sent to wrong location


U.S. mail delay


Posting delay by payee


Scheduled incorrect number of days before due date  


Scheduled incorrectly  


Incorrect account information supplied by member  


  1. Payments to these payees are permitted but are not covered by the payment guarantee.