Online bankning and pre-authorized payments

Online bankning and pre-authorized payments

Online bankning and pre-authorized payments

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I'm a Participant Level 2

Online bankning and pre-authorized payments

I have recently paid my Fido bill through my Internet Banking account scheduled today. The transaction is recorded in my Internet Banking account. However, I made the registration of my Banking Account (method of payment) in my Fido Account after the transaction was made. According to the e-mail regarding updated payment method, if the next payment is scheduled for within 48 hours of the payment update, my pre-authorized payment will not be automatically processed from my newly registered bank account. I wonder if I should make the payment again. I also want to know whether the previous payment can be cancelled. Thank you!

 

 

 

Accepted Solution

Re: Online bankning and pre-authorized payments

Solved by Former Moderator FidoMaria

Hi a2854s1 & welcome to the Community! Smiley

 

When you make a payment through online banking, it can take up to 5 business days for the payment to post to your Fido account. That said, you don't need to make the payment a 2nd time. 

 

In regards to changing your payment method, if you chose pre-authorized chequing, it will start as of your next billing cycle. The payment will always be taken on or after the 14th day following your billing cycle close date.

 

Let me know if you have any other questions!

 

 

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8 REPLIES 8
Former Moderator

Hi a2854s1 & welcome to the Community! Smiley

 

When you make a payment through online banking, it can take up to 5 business days for the payment to post to your Fido account. That said, you don't need to make the payment a 2nd time. 

 

In regards to changing your payment method, if you chose pre-authorized chequing, it will start as of your next billing cycle. The payment will always be taken on or after the 14th day following your billing cycle close date.

 

Let me know if you have any other questions!

 

 



I'm a Participant Level 2

Thanks a lot!

I'm a Participant Level 2

lets say your monthly bill is around 100$ and you set up a bill payment in your bank instution for 100$/month. if your next payment is around 104$, Would fido automatically take an extra 4$ or should I increase it to 105$? If i do the second one, what would happen if fido only needs 100$ for the next payment? Do they refund the extra 5$?

Hi @Louise3 & welcome to the Community! Smiley

 

Did you register to pre-authorized payments through Fido, or do you have payments set up with your bank?

 

If you registered through us, there's no need to adjust the amount as we'll take whatever is due. If you set up reoccuring payments of $100 through your bank, you'll need to change the amount for the amount due.

 

Hope this helps!



I'm a Participant Level 2

i was thinking of doing it through my bank institution. what if i increase the amount? Does fido return back my change? 

@Louise3 if you pay more than what is due, the extra will be put towards your next month's bill.

 

Hope this helps. Smiley



I'm a Participant Level 2

Hi, I made a bill payment through online banking. However I made the payment before my bill was due I and when I go into my fido account the amount still shows . I was wondering if the payment was processed or how long is it gonna take for it to process ?

Hi there @Aicha123

 

Payments made through Online Banking always take 3-5 business days to go through until we receive it on our end.