Payments From Non-Orrstown Bank Accounts

External Payments

Payments From a Non-Orrstown Bank Account

When you make a loan or mortgage payment from an external account using Orrstown Bank Online/Mobile Banking, the processing of your payment differs based on:

Your loan type
Payment amount
Timing of your payment

Below are the scenarios for how your payments will be applied:

Mortgage Loans

Exact Payment Made When...

Payment Due: Your payment will be applied as a Regular Payment, and the due date will be advanced to the next payment date.
Payment Past Due: Your payment will be applied to the first past due amount, and the due date will be advanced to the next payment date. Late fees may apply under certain circumstances.
Paying Ahead: Payments made after your monthly bill has been generated (typically 30 days prior to the next payment due date) will satisfy the next payment due. Payments made before a monthly bill has been generated will be applied to principal.

2. Excess Payment Made When...

Payment Due: Your payment will be applied as a Regular Payment, and the excess will be applied to principal. The due date will be advanced to the next payment date.
Payment Past Due: Your payment will be applied to the past due payment, and the excess will be applied to principal. The due date will be advanced to the next payment date, assuming only one payment is past due.
Paying Ahead: If a partial payment is made, your payment will be applied to the next future due date but held in pending status, not applied to the loan, until payment in an amount which equals or exceeds the amount of your monthly payment is received; the due date will be advanced only when the payment amount equals or exceeds the amount of your monthly payment. Payments in excess of your monthly payment amount will be applied to your loan’s principal.

3. Short Payment Made When...

Payment Due: Your payment will be held in a pending status, not applied to the loan, until payment in an amount that equals or exceeds the amount of your monthly payment is received.
Payment Past Due: Your payment will be held in pending status, not applied to the loan, until payment in an amount which equals or exceeds the amount of your monthly payment is received.
Paying Ahead: Your payment will be held in a pending status, not applied to the loan, until payment in an amount which equals or exceeds the amount of your monthly payment is received.

Other Loans

1. Exact Payment Made When...

Payment Due: Your payment will be applied as a Regular Payment, and the due date will be advanced to the next due date.
Payment Past Due: Your payment will be applied to the first past due amount, and the due date will be advanced to the next due date.
Paying Ahead: If no bill has been generated, the full amount of your payment will be applied to principal.