Frequently Asked Questions about Online Banking

What is Online Banking?

Online Banking is our online service that allows you to access your account information 24 hours a day, 7 days a week. Using Online Banking, you can:

  • View real-time account balances, check images and history
  • 24-hour access to checking, savings, loans, and CDs
  • Export history to financial software or spreadsheets
  • Transfer funds between accounts
  • Pay bills online
  • Request stop payments

What do I need to bank online?

Banking online is easy. Online Banking works well on most of today’s browsers and must support 128-bit SSL encryption. If your browser does not support these encryption levels, you’ll need to update it. To get started, simply complete the enrollment form to receive your log in information.

What types of accounts can I view with Online Banking?

With Online Banking, you can view all your Virginia Company Bank deposit accounts, as well as loans.

How often is my account information updated?

Account information is updated in real-time, offering you the most current information available.

How secure is my account information?

Virginia Company Bank uses the latest Internet security available, including secure communications (SSL), firewalls, 128 bit encryption, and operating systems that have been designed to provide maximum security.

Why am I signed off sometimes and I have to sign in again?

If Online Banking has been inactive for a period of time, Online Banking may automatically sign you off to prevent unauthorized use of your accounts and to prevent others from viewing your information.

Can I pay my bills using Online Banking?

Yes. You can make payments to anyone in the United States, from the utility company to the local babysitter. You may schedule payments to be made immediately or on a specified date in the future. You can even set up recurring payments so you don’t have to worry about remembering to pay your regular bills. Recurring payments can be set up weekly, semi-monthly or monthly. Bill Pay eliminates the need for writing checks or addressing envelopes. More importantly, it saves you time and simplifies your busy life (fees may apply).

What type of account is required for Bill Pay?

Bill Pay can only be used with a checking account.

May I pay bills from more than one checking account?

Yes.

How far in advance should I set up a payment to ensure it is paid on time?

We recommend that payments should be made at least five (5) business days in advance of the due date of the payee.

Can I transfer funds between my accounts?

Yes, you can transfer funds between any of your Virginia Company Bank accounts.

Do I need extra software or hardware to use Online Banking?

No extra software is necessary. You can access your Virginia Company Bank accounts from almost any PC that has Internet access.

Will Online Banking work with my current Internet Service Provider?

Yes, Online Banking works with any ISP.

Can I access my accounts from both home and work?

Yes, you can access your accounts from almost any PC.

About Bill Pay

Is paying bills online hard to do?

  • Paying bills online is easier and takes less time than opening the envelope containing your paper bill, reviewing it, writing a check, and keeping and filing manual records of your payments. Once you’ve enrolled and entered your Payees, just enter a payment amount, schedule the payment date, and you’re done.
  • To make paying bills online even easier, you can receive your bills online from many of your Payees/Billers as well. Click here to learn more about e-Bills and which of your Payees/Billers are e-Billers.

What is the difference between a Payee and a Biller?

Nothing. The two terms are used interchangeably to indicate someone to whom you make a payment, whether or not they actually send you a “bill” or invoice.

Do I need any special software or hardware to use Bill Pay?

No special software is necessary.

If I pay bills online, do I give up control of when payments are made?

Absolutely not. You’ll always be in control of your accounts. You decide who, when and how often to pay. Need to cancel or change a payment? No problem, as long as it’s done before the processing date.

What is the Payment Assistant?

The Payment Assistant is an application layer that displays over the mini-modules on the right hand side of the Payment Center to assist the user in making payments, whether the user is new or experienced. The Payment Assistant provides a progressive experience, helping the user advance from basic capabilities of online bill pay to more advanced features at the appropriate time.

What is an Application Layer?

An application layer is a layered page that allows the user to interact with the product while the Payment Center page below it remains open as well. The primary page fades so the user can focus on a related task without distractions. Once the application layer is closed, focus is returned to the Payment Center. Application layers are not blocked by pop-up blockers.

Setting Up and Maintaining Payees/Billers

Who can I pay using Bill Pay?

You can pay almost any individual or business as long as they have a United States mailing address or receive mail at an FPO or APO address (APO – Abroad, APO – America or APO – Pacific). Please note that the following payment types are prohibited: Tax Payments, Court Ordered Payments, and Payments to Payees/Billers outside of the United States.

What if I do not have an account number for one of my Payees/Billers?

Sometimes you will want to set up a Payee/Biller with whom you do not have an actual account number. It’s easy. Simply enter the customer service phone number for that company to enable a database search. If the database does not find a match, you may enter the rest of the information yourself.

How do I delete a Payee/Biller or change their payment information?

Delete Payees under the Payee Set Up tab. Under this same tab you’ll also find the option to change a payee’s information.

Payment Processing

How do I know if a payment has been sent?

When you pay bills online, the service automatically creates a record of your payments that you can view at any time. This allows you to check the status of your payment and always have a general account of where you are.

How many days does it take for my payment to reach the Payee/Biller?

Most transactions will be processed five (5) business days before your selected Scheduled Payment Date. It is understood that, due to circumstances beyond our control, even once they are received, some transactions may take a day or even a few days longer to be credited by your Payee/Biller to your account with them.

What do I do if my Payee/Biller never received my payment?

If you have a question regarding a payment, use the Messages link at the bottom of the page. This link allows you to contact Virginia Company Bank via a fully secure environment regarding your account. Please provide a Payee/Biller contact name (if possible), address, and phone number.

What do I do with the part of the invoice or bill that I usually mail back to the Payee/Biller with my payment?  Doesn’t the vendor need that to process my payment?

You do not need to do anything with that portion. Bill Pay will provide all of the necessary information to the Payee/Biller with each payment.

How far in advance can I schedule a payment?

You can schedule a payment up to one year in advance of the payment due date. Do not forget to allow five business days in between the scheduled payment date and the due date. A good example of when you might schedule a payment that far in advance could be to pay annual dues to an organization or association, or to send a birthday check to someone.

What about payments I make every month for the same amount?

Easiest of all: establish a recurring payment. A recurring payment must be made at specified intervals (i.e., weekly, biweekly, semi-monthly, every 4 weeks, monthly, bi-monthly, quarterly, semi-annually, or yearly) for the same amount each occurrence. Set the payment frequency and the amount you wish to pay and, however you set it, your payments will be made as indicated. All you have to do is deposit the money to cover the payments. Set it and forget it!

How is the payment sent to my Payee/Biller?

You will not always know if your payment is sent electronically or by paper check. While many payments will be made electronically, some Payees/Billers cannot receive electronic payments (such as individuals). Those Payees/Billers will be sent payments by paper check.

When is the money for my payments taken out of my account?

Your account will be debited on your scheduled payment date.

Without a check stub or a canceled check, how can I prove that I made a payment?

One of the advantages of paying your bills using Bill Pay is that there are generally far fewer opportunities for errors to occur. However, in the event that you do need to provide proof of payment, there are many different tracking systems in place. For example, your financial statement will reflect debits to your account and include the name of each Payee/Biller.

How can I stop a scheduled payment?

All online payments can be canceled before they are processed (5 or more business days prior to the requested due date). Once the payment has been processed, additional modifications are not possible.

Getting Help and Signing Up for Bill Pay

Who do I contact if I encounter problems when paying bills online?

As with any questions about your checking account, contact our customer service department.

How do I sign-up for Online Banking?

Click here to sign-up for Online Banking, then follow the online instructions.

E-Bills

What are e-Bills?

E-Bills are your regular statements delivered to you electronically by your Payee/Biller. You can choose either to have the Bill Pay service pay the bills automatically (under a certain dollar amount) through e-Bill Auto-Pay, or pay the bills according to your chosen schedule or amount.

How do I set up my Payee/Biller for e-Bills?

The fastest way to create e-Billers is to choose from the pre-defined list. The Merchants on this list are capable of sending e-Bills are indicated by an asterisk (*).

Will I still receive a paper bill in the mail from the e-Biller?

No. You will no longer receive your paper bill. However, you can print out any bill if you would like to keep a paper copy for your records. Your bills, statements, and notices are available online for six months from their arrival date, and they then are archived.

How do I know when I have new e-Bills to pay?

When you log on, you’ll see the number of new bills, statements, and notices you’ve received. Also, you’ll receive a reminder e-mail to notify you of new bills in your account mailbox if they have not been viewed within four days of delivery.

When will I receive my e-Bill each month?

Most Payees/Billers will use their established billing cycle, so you can expect to receive your bill at approximately the same time of the month that you currently receive your paper bill.

If I don’t understand something on my e-Bill, what should I do?

For questions specific to a particular e-Bill, contact that e-Biller directly.