Substitute Payment

Substitute Payment generates MICR-encoded documents normally associated with exception items. Examples of such items include credit card payments, loan payments, and other miscellaneous payments. Each Substitute Payment must have a configured Document Type. These settings determine the MICR information and their alignment.

Step 1 - Search

Choose a Payment Document type. These may include payment options for auto, credit card, or mortgage loans. Choosing a type will correspond to a specific document design and MICR-encoding.

Before payment coupons can be printed, they must be associated with the account on which they are based. To find an existing record, enter some information into the Address fields (partial or full name, address, city, etc.) and click on the Lookup icon. Alternatively for new records, enter Account number, Name and full Address information. Information entered in these fields will appear on the face of the document.

Note: Check Foreign Address box if applicable.

Print the Substitute Document

Substitute Payments can track payment information to include late fees and any additional payments the customer may want to include.

1. Enter the loan Payment Amount.

2. Enter a Late Fee.

3. If an additional payment is being added, enter Additional Payment Amount.

4. Click Print

Optionally, click Reset to clear all entries for entering new information.