Electronic Funds Transfer (EFT)
- Save Postage, time and headaches from checks being delayed in the mail or stolen.
- Stop worrying about paying a bill late when you’re traveling.
- Personal record keeping is easier and safer.
How Do I Know My Money Is Safe?
- Electronically funds transferred (EFT) are covered by the United States Government, which insures up to $250,000 under the Federal Deposit Insurance Corporation (FDIC), Regulation E.
BWMA Payment Guarantee
BWMA Confidence Guarantee
We want our clients enroll with complete confidence in BWMA. You can be assured of the following:
- Your account will be set up with the information you provide on the Biweekly Savings Plan Agreement in a timely manner.
- Payments to your lender will arrive by the due date or soon after. Always before the late-date, set by your lender. Should payment made after the late-date is a fault of our service, we guarantee you will not be responsible for any expense imposed by your lender. It is your responsibility to advise our Customer Care Department of all changes in payment amounts, lender payable names, and payment addresses.
- For your protection, your funds are safely secured for payment in an FDIC-insured account and we fully abide by Regulation E guidelines for your peace of mind.
- We protect your data using secured systems and guarantee we never share your data with parties outside of BWMA and your designated Service Bureau company.
- You will receive a copy of the Biweekly Savings Plan Agreement enrollment form after you review and approve with your signature.
- After your application has been fully completed, reviewed, and uploaded for servicing setup, you will receive contact information for BWMA Customer Care and the name of the debiting Service Bureau assigned to your loan. The Service Bureau is governed by strict regulation. We conduct regular audits for correctness and lender accountability.
- You will have the freedom to make changes to your plan by phone or online website. Please allow a minimum of 72 hours for changes to be activated.
- You have the opportunity to become a referring client under our BWMA Client Ambassador program and earn referral rewards which could easily offset all program costs.
Thank you for saving with the The Mortgage Eraser & Biweekly Mortgage Association!