Electronic Funds Transfer Information
Do you offer any type of automatic payment program?
Our automatic payment program, Electronic Funds Transfer is a free service that will save you money on postage, eliminate the inconvenience of mailing checks and avoid the worry about late charges. Please visit our Electronic Funds Transfer web page for more information concerning this free service.
Also, we offer the Equity Accelerator payment program. For a fee, this program will electronically deduct a portion of your payment from your checking or savings account each payday and apply the payment on the scheduled due date. Please visit our Equity Accelerator web page for further information about this program.
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How do I sign up for the Electronic Funds Transfer (EFT) or Equity Accelerator?
To sign up for our EFT program, simply complete and mail the EFT insert found in your coupon book, or visit our EFT web page to download the authorization form. After mailing the completed form, please continue to make your payments until you receive a letter confirming when the program will begin.
To apply for the Equity Accelerator program, please call one of our Equity Accelerator Specialists at 1-800-209-9700.
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Do I have to have a PNC checking or savings account to sign up for EFT?
No. You can have a checking or savings account with almost any U.S. financial institution to establish this free service,
click here.
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If I choose to pay my payment through EFT, does it have to be paid on my due date?
No. Your payment can be made on any date between your due date and your late charge assessment date. For example, if your payment is due on the 1st and your late charge is assessed on the 16th, your payment can be made on any date between the 1st and 15th.
Click here to learn more about our EFT program.
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If I am closing on my house, or have requested a Payoff Statement, do I still need to make my payment this month?
Yes. It is important that you continue to remit your monthly payment as you normally would. If your payment is remitted using our Electronic Funds Transfer program, it is important to notify us as least 10 days in advance of the next scheduled EFT payment date so your EFT can be canceled. Should the payment be deducted from your bank account after your loan pays in full, we will return it to you within the following two weeks.
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