AFXpress Electronic Funds Transfer
Using EFT with Accident Fund – It’s as Easy as 1-2-3!
Accident Fund is committed to saving our agents and customers time and money. To assist in that effort, we’ve made it easy for agents and policyholders to pay invoices online with electronic funds transfers (EFTs) via the Agent website home page and the Accident Fund Policyholder website, respectively.
The benefits for your customers of setting up EFTs include:
- Flexible scheduling: Your customers can select the amount they wish to pay and payment release date when making one-time payments.
- Convenient payment options: Any invoice can be paid from multiple checking or savings accounts. An option to set up automatic payments is also available, though only one checking or savings account can be used for that process. For more details on automatic payments, see the FAQ below.
- All bills available: Choose to pay premiums, audits or deductible invoices.
- 24/7 access to your records: View and make payments electronically when it suits your schedule.
- Paperwork reduction: Reduce the need for checks and mailing costs to send payments.
If your customers have problems registering or accessing online payments, please contact an Accident Fund customer billing representative at 866-206-5851.
If You Are an Agent Making Payments for Your Policyholders
On the Agent website, you can view policyholder invoices and make payments for your accounts by clicking the View/Pay Invoices link under the Manage Policies section (far left column) on the home page. For you to have this functionality, the Security Administrator at your agency will need to assign you access to Online Payments.
If a Policyholder Has Never Registered or Needs to Re-Register on Our Policyholder Site
To re-register or register for the first time on the Policyholder site, policyholders should go to AccidentFund.com, select Login and then Policyholder Login at the top of the homepage. On the next page, they should select Register Here under the For Initial Policyholder Login heading. To register, they will need their policy number, Federal Employer Identification Number (FEIN) and current policy expiration date, which are all available on their policy. Please note: Only one person can perform the initial registration process for the site. The first person to do so will be designated as the Security Administrator for their organization. Instructions for Security Administrators as to how to set up other users and assign applications are available on the Policyholder site.
Additional FAQs About EFT
If a policy is endorsed during policy term, are future EFT drafts changed automatically to the new billing amount?
How soon can online bill payments be set up for an account?
One to two days after policy issuance.
Why am I receiving invoice notifications for my customer’s accounts?
If you enter payment information on your policyholder’s behalf, even once, you will receive notifications for every invoice on this account from that point forward. If you wish to turn off these notifications, our customer billing representative can assist in deactivating them.
How long after a payment is submitted will it post to the policy?
Payments may take 2 to 3 business days to post to the policy but will generally post the following day.
Auto payments that are scheduled when a payment is due will process three days prior to the invoice due date. Auto payments that are scheduled when a bill is received will process the day after an invoice is generated.
If an account is on automatic payments and an audit is completed where additional payment is required to true up the account, when is payment withdrawn?
If an account is on automatic payments, once an audit is completed, payment for any audit invoice is withdrawn the day after the invoice is created. For example, when an audit is completed on a Tuesday, an audit invoice is created on Wednesday with email notification being sent and a paper notification being mailed that same day. Payment for the audit invoice will be withdrawn on Thursday from the policyholder’s account. If you have policyholders who may have audits that would result in significantly different premium amounts, you may want to alert them to this possibility.
My customer’s account is a 10/1 policy which was bound on 9/15 and issued on 9/20. When would their invoice be due?
We provide customers 25 days to pay their invoice, even if it is issued late. In this case, the invoice would be due 25 days from 9/20 on 10/15. If the policy happened to be issued after the effective date, such as 10/10, the invoice would then be due on 11/4. However, the next installment would bill with the first since both would be due at the same time.