​Online & Mobile Banking: Don’t Pay to Make Your Payment

Posted on September 14, 2021

Save time and money with Loan Pay

If you’re still mailing your loan payment or paying by phone, you might be spending more time and money than you have to. Making your payment online is quick, easy, and free with Loan Pay. All you need is the account number you’d like to use to make your payment and your bank or credit union’s routing number to set up one-time or recurring payments from an outside account. Once you’ve gathered your information, follow the steps below or use this step-by-step guide to get started.

First, you’ll need to add an external account. This is the account you want to make payments from.

  • Log in to Online Banking and select Loan Pay under the Move Money menu, then click to add an external account.

  • Enter your payment account information, including the type of account you’re using (checking, savings, etc.), the account number, and the routing number for the external bank or credit union. When prompted, review the information to make sure it’s correct.

  • Within three business days, we’ll make two small deposits (less than $1 each) into the account. When you see both deposits in the account, log in and select Loan Pay to validate the amounts.

Next, schedule a payment. Payments can be made using both Online and Mobile Banking. When using the mobile app, select “Loan Payment” in the menu at the bottom of your screen. The steps for making online and mobile payments are the same.

  • Select an active external account. Once you’ve added an outside account and validated the deposits, the account will appear in the active list.

  • Enter the payment information requested and tell us when you’d like to initiate the payment. When choosing the payment initiation date, remember that it may take up to three business days for the payment to post. It’s a good idea to build in a few extra days to be sure your payment is posted by the due date.

  • If you’d like to set up recurring payments, click the box next to “Repeat” and tell us how often you’d like to pay and when to stop the payments.

  • Review the Terms and Conditions and check the box to agree if you’d like to proceed.

  • Review the information you entered and let us know if you’d like a payment reminder, then click “Make Payment.”

You’re all set! We think Loan Pay is the best way to pay, but we want to hear from you! Send an email to sfcunews@southeastfinancial.org and let us know what you think.