Posted on | By Meritrust | Posted in News

Meritrust members are now able to take advantage of the convenience of safe and secure online loan payments by check or debit card*. For members needing to make payments to a Meritrust loan using another institution’s checking account or debit card, this payment service is available within online banking and the mobile app.

How it works. It’s quick, secure and easy! For a $4 convenience fee, make a one-time loan payment by check or debit card in just a few quick steps.

  • Online payments can be made within both Meritrust’s online banking and the mobile app.
  • In the app or within online banking, select “Pay Loan by Check or Card” and follow the steps to make a payment.
  • Only checking accounts and debit cards from other financial institutions are accepted within this online payment service.
    (The system will not allow Meritrust debit cards or routing number to be used to make the payment; instead, please use the convenience of online banking transfers, automatic payments or one of our other payment options for Meritrust accounts.
  • Credit cards are not able to be used to make online loan payments.
  • Payments made before 2:00 pm Central Time (CT) will be credited that day’s business, but may not reflect your loan until the next business day. Payments made after 2:00 pm CT may not be processed until the next business day. A business day is considered Monday through Friday, excluding Federal Holidays. Payment debits may take 2-3 business days to appear on your account at your other financial institution.
  • The loan payment amount and convenience fee amount will be processed as point of sale transactions as two separate posts to your financial institution.
  • Meritrust online banking access is required to be able to use the online loan payment system. If you’re not signed up for free, convenient access to your Meritrust accounts through online banking or the mobile app, please stop by a Meritrust branch or call us at 800.342.9278.

For more information on online payments, please see the Frequently Asked Questions below.

Convenient Options to Save You Time
The online payments service provides a convenient, secure way for you to pay Meritrust loans. Please note, with the addition of this convenience service, Meritrust no longer accepts over-the-phone externally funded payments and cash advances are no longer available at Meritrust branches.

Looking for other options to pay your Meritrust loan? We have them! Here are a few other ways you can make your loan payment:

  • Set up one-time or reoccurring automatic payments over the phone or at your nearest Meritrust branch, or your funding financial institution
  • Pay at your nearest Meritrust branch using cash or a personal or official check from your funding financial institution
  • Pay by mail by sending a personal or official check payment to P.O. Box 789757, Wichita, KS 67278
  • Pay at a CO-OP shared branch location
  • Deposit to your Meritrust account using eDeposit, then transfer to your loan

Online Payment Frequently Asked Questions

  1. What loans can I pay using the online Pay Loan by Check or Card service?
    You can pay any Meritrust consumer (auto/recreational, signature, personal line of credit, home equity, etc.), credit card, or mortgage loan.
  2. What loans cannot be paid using online Pay Loan by Check or Card service?
    At this time, you cannot use the online Pay Loan by Check or Card service to pay commercial or loans in repossession or foreclosure. If you are not sure if your loan can be paid using this service, please call Member Support Services at 800.342.9278.
  3. How do I access the online Pay Loan by Check or Card service?
    To access the online Pay Loan by Check or Card service you must have enrolled in online or mobile banking. If you are not enrolled, please call Member Support Services at 800.342.9278. Once enrolled the online Pay Loan by Check or Card service can be found in online banking under Move Money > Payments > Pay Loan by Check or Card. In mobile banking go to Pay Loan by Check or Card in the main menu.
  4. Can I use the online Pay Loan by Check or Card service anytime I want?
    Yes.  Our online Pay Loan by Check or Card service is available 24 hours a day, 7 days a week, so you can schedule a loan payment anytime that is convenient for you.
  5. Can I make a future-dated loan payment?
    If paying by bank account you can schedule a loan payment up to three months in the future. Payments made by debit card cannot be future-dated.
  6. Can I set up a recurring loan payment?
    At this time, you cannot use the online Pay Loan by Check or Card service to setup a recurring payment.
  7. Are there any limitations on the dollar amount of the loan payment?
    Yes.  The maximum payment amount is $2,500.00 per loan per calendar day.
  8. What information do I need to make a loan payment?
    You must have an eligible Meritrust loan account to use the online Pay Loan by Check or Card service.  Below is the information you will need to make a loan payment:

    1. To pay from a bank account you will need the account number of the checking or savings account you want the payment funds to be withdrawn from, as well as the routing number of the financial institution at which the account is held.
    2. To pay by debit card you will need the information on the on the card.
  9. Will my payment information be saved for my next payment?
    Payments made from a bank account will be saved in the Pay Loan by Check or Card service. If you wish to remove a previously used bank account, please call please call Member Support Services at 800.342.9278. For payments by debit card, you will need to enter you card information each time you make a payment.
  10. When will payments be posted to my loan?
    Payments made before 2:00 pm Central Time (CT) will be credited that day’s business, but may not reflect the loan until the next business day. Payments made after 2:00 pm CT may not be processed until the next business day. A business day is considered Monday through Friday, excluding Federal Holidays. Payment debits may take 2-3 business days to appear on the member’s account at their other financial institution.
  11. How will payments be applied to my loan?
    All payments made through the online Pay Loan by Check or Card service will be applied as a regular payment to your loan account.
  12. Will I receive a payment confirmation for my loan payment?
    Yes.  You will receive a confirmation for each payment made through the online Pay Loan by Check or Card service.
  13. Is there a fee for using the online Pay Loan by Check or Card service?
    There is a $4.00 loan payment processing fee for each payment made using the online Pay Loan by Check or Card service. For other options including free alternatives, please visit https://www.meritrustcu.org/home/resources/autoinfo.
  14. When will funds be withdrawn from the checking account funding the loan payment?
    Funds will generally be withdrawn from the account funding the loan payment on the second business day following the date the loan payment is made.
  15. What if there are insufficient funds in my funding account to make the loan payment?
    If sufficient funds are not available in your funding account, the loan payment will be cancelled and you will be responsible for any late payment related charges or fees. You will also be solely responsible for any overdraft or related fees charged by the financial institution where the checking account is located.
  16. Can I pay off my loan using the online Pay Loan by Check or Card service?
    At this time, the ability to payoff a loan is not available through Pay Loan by Check or Card. Please review our alternative payment and payoff options.
  17. What if I am making a late loan payment?
    You may use our online Pay Loan by Check or Card service to make a late payment to your loan account. Any late fees or other charges will be applied to your account and reflected in your balance and next payment due. If you have any questions or concerns about a late payment to your loan, please contact Member Support Services at 800.342.9278.
  18. Can I make changes to a scheduled loan payment?
    Yes.  You may use the online Pay Loan by Check or Card service to edit a future-dated payment prior to 6:00 p.m. Eastern Time on the business day preceding the date the loan payment is scheduled to be made.  If you need to edit a loan payment on the date it is scheduled to be made, please call our Customer Service Center at 1.800.327.8376.
  19. Can I cancel a scheduled loan payment?
    You may use the online Pay Loan by Check or Card service to cancel a future-dated pay by bank account payment prior to 2:00 p.m. Central Time on the business day preceding the date the loan payment is scheduled to be made.  Payments made by debit card cannot be canceled.

Have questions? Give us a call at 800.342.9278. We look forward to serving you.

Federally insured by NCUA. *Minimal electronic payment fee will be charged.

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