Automatic Payment Plan FAQs
Q. What is the Automatic Payment Plan?
A. The Automatic Payment Plan provides Owatonna Utility customers the ease and convenience of preauthorized bill payment without waiting in lines or mailing your payment/.
Q. How Does it work?
A. Upon completion of the enclosed authorization form, Owatonna Utilities notifies your financial institution that you wish to have your utility bill payment drawn directly from your checking account. Each month, 6 days before your due date, Owatonna Utilities; will notify your financial institution of the amount that must be subtracted from your account. Your financial institution will then withdraw this amount on your due date.
Q. How much will it cost me to sign up for this service?
A. There will be no charge from Owatonna Utilities. In fact, you will save money by not paying for postage if you presently mail in your payment. Please check with your individual financial institution for information regarding their processing fees.
Q. How will I know if my bank, savings and loan, or credit union offer this service?
A. This new plan differs from other preauthorized payment plans in the most financial institutions(banks, savings and loans, and credit unions) are able to offer this service to their customers.
Q. What will my monthly bill look like?
A. On the stub portion of your statement, it will identify that you are a BANK PAID customer. The net amount will be deducted from your account on the due date shown on your statement.
Q. What happens if I do not agree with my bill?
A. If you feel that your bill is in error, call our office at least 7 business days before the scheduled payment date and ask that the account be reviewed for correctness. If your bill is found to be incorrect, your automatic payment amount will be adjusted accordingly.
Q. How will I know that my financial institution paid my bill?
A. The automatic payment plan works like a check in every way, except that instead of receiving a cancelled check with your monthly financial statement the paid draft will appear as a line item on your statement in the same way that automated teller transactions appear.
Q. What do I do if I change financial institutions, or move from one location to another?
A. Contact our office as soon as possible. Be prepared to provide your complete new savings, checking, or credit union account number, or your address change information.
Q. How can I sign up?
A.
- Carefully review the authorization form.
- Fill in all the information on the agreement.
- Bring in your completed authorization form with a voided check.
Q. After I return the form, when does the Automatic Payment Plan begin?
A. After Owatonna Utilities receives your completed form, you continue to pay your bill in the normal manner until you receive a billing statement that has the words "BANK PAID" printed on the stub portion., This is usually the first statement after signing up/.
Q. Can I use the Automatic Payment Plan if I am on the Budget Billing Plan?
A. Definitely! In fact, the Budget Bill Plan and the Automatic Payment Plan compliment one another. The stability of an average bill and the convenience of Automatic Bill Payment make a nice combination.
Q. Will I be charged a late charge if my bill is paid after my due date?
A. No. You never pay a late charge on the Automatic Payment Plan.
Q. How can I cancel the Automated Payment Plan?
A. The authority you give to charge your account will remain in effect until you notify us or your financial institution, in writing, to terminate the authorization.