Previously, the payees you set up in Bill Pay could elect to have paper checks mailed to them or to receive electronic payments via the Automated Clearing House (ACH) system if they qualified. Now, payees have an additional option if they qualify: they can elect to receive electronic payments via Virtual Cards.
Virtual Cards are single-use card tokens designed to deliver bill payments to participating payees electronically and minimize the risk of lost checks or ACH fraud. Payees that elect to receive Virtual Cards receive those tokens faster than mailed paper checks or even electronic ACH payments. And if a payee doesn’t process the payment within five business days of receipt of the Virtual Card, the token expires (making the process more secure), Embassy Bank is notified, and the money is returned to your account a short time later. That process is typically faster than if a mailed check were reported lost.
What do I have to do?
You don’t have to change a thing; just use Bill Pay as you normally would. Any payees you send money to via Bill Pay will be given the option to accept electronic payment delivery if they qualify, and we’ll send the money how they choose. Note: Embassy Bank does not control which payees accept or are eligible for ACH or Virtual Card electronic payments. If the payee you designate doesn’t accept or doesn’t qualify for electronic delivery, they will still receive mailed paper checks.