Enable/Suspend AutoPay Processing
In this article, we'll go over how to Suspend or Enable AutoPays on an account. This is something that would be useful if you ever have to stop automated payments at the borrower's request or handle a change in the payment date or schedule. You can Enable or Suspend AutoPays for an account via two methods:
- The first way is in the "AutoPays" tab. To Enable or Suspend AutoPay processing on an account navigate inside of the account to Servicing > AutoPay. Depending on whether or not the account has AutoPay processing enabled or disabled, at the top of the page you will see a button to either suspend or enable AutoPay Processing. You will also see a "Loan AutoPay Processing Status" that will let you know if AutoPay Processing is or for the account.
- The second way to enable or suspend AutoPays in loan accounts is in the "Loan Settings" tab. Within the loan, navigate to Loan Settings > Settings. Click Edit and the choose the appropriate selection form the drop-down menu of "AutoPay Status".
Enabled vs Suspended
If an account's AutoPay Processing has been set to Enabled, all scheduled AutoPays will be processed on the account as expected. If an account's AutoPay Processing has been suspended, any scheduled AutoPays that are pending on the account will automatically fail at the time they have been set to process. This is important to keep in mind when pulling reports of failed AutoPays. Autopays that have failed due to an account's AutoPay Processing being suspended are not distinguished from AutoPays that have failed due to other reasons.
When you enable AutoPays after they have been suspended, you may have AutoPays that are scheduled in the past that failed, which you will want to process. You may also have other past failed AutoPays. When you try to process an AutoPay that failed in the past, you will get a click-through popup that asks if you want to manually process the AutoPay.