ECSI will offer borrowers the opportunity to receive and pay their bills electronically. Our new E-Bill and E-Pay services are fast, easy and above all convenient!
E-Bills
Electronic Billing (E-Bill) allows instant access to your billing statement! Borrowers on electronic billing often can review their billing statements
hours before the paper statements are even printed.
Contrast "Electronic Billing" with the "old way" of doing business. ECSI can usually print, stuff and mail statements within 24 hours. These billing statements are delivered to our United States Postal Service (USPS) regional mailing center. We all know a story of a card or letter that arrived late. To be fair, the USPS processes billions (yes, with a 'b') of pieces of mail and it is only a very small percentage that do not make it to their destination on time. Of course, on time can be anywhere from one to four days or more! With E-Bill, your electronic billing statement is available immediately after we create the bill.
Borrowers have several choices when subscribing to electronic billing.
E-Pay
Some of you may be familiar with ECSI's ACH service. A borrower can fill-out a paper application requesting a fixed payment be withdrawn from their checking account each month to pay their student loan debt. Thousands of borrowers use ACH because of
the convenience. Unfortunately, ACH does not allow any adjustments unless accompanied by a signed, paper form. Every change you make requires a new form which can take 4-6 weeks to process. In most cases, the delay is due to the billing cycle ECSI
uses with ACH. ACH is only processed once a month and if your request misses the deadline, it will not be processed until the following month. If you never change anything, ACH is a very convenient and viable way to pay your debt electronically.
Electronic Payments (E-Pay) utilize a modified form of our existing ACH program, whereby borrowers can make payments on their student loan debts electronically, directly from their checking account. Think of it as an On-Demand version of our current ACH program. You determine the date and the amount of the withdrawl. Our system defaults to your minimum monthly payment but you can decide any amount you desire -- up to and including the total unpaid balance. E-Payments can be made any time of the day, any day of the month. All electronic payments made by 4 P.M. (Eastern time) will be processed that business day. If you participate in our E-Pay service, this is how the process works:
Either payment method is fast, convenient and safe! ECSI has invested many resources to ensure that our borrowers can use our electronic services with complete confidence. It seems like every day a "Hacker Attack" makes the nightly news. ECSI has taken the following protective measures:
Sign Up Now!
If you have never participated in our ACH program, the sign up process will take only a few moments. You will need a blank check in front of you to gather the information needed to complete the application.
If you are already using our ACH service, signing up for E-Payments is a breeze. Your current ACH information is presented and you verify that the banking information is still accurate.
Select one of the two billing options an you're done!
If you are interested in trying our E-Bill or E-Pay services, you can find additional documents including a Frequently Asked Question guide in the Borrower section of our site.