Yes, but it’s not an automatic process. When you enroll in auto pay and select biweekly payments, begin by scheduling your preferred first payment start date. From there, your payments will follow a biweekly schedule for the life of the loan or until changes are made.
Follow these steps:
- Log in to your Best Egg account.
- Select the account you’d like to set up with biweekly payments.
- From the navigation bar, click ‘Account Details’, then ‘Payments’.
- On the Payments drop-down list, click ‘Auto pay’, then ‘Biweekly’.
- Select the suggested biweekly payment amount (typically half of your minimum monthly payment) or enter your own amount.
- Select the date you’d like your payments to start on.
- Confirm the bank account details, then click ‘Review Payment’. A pop-up will confirm you’ve entered in everything correctly.
- Click ‘Make Payment’ and another page will open with your confirmation code.
Please note: When setting up biweekly payments, to avoid any past due status, the minimum monthly payment must be made in full on or before the account due date. If the full monthly payment is not met on or before the account due date, it will be considered past due.