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How do I setup automatic loan payments for my Consumer loan?

Category: Personal   Service: Consumer Loans | Updated: September 22nd, 2023

Answer:

Two convenient options are available: Online Banking or an Automatic Transfer Authorization agreement.

Online Banking

Online banking offers benefits such as the ability to check your loan balance, make extra loan payments, set up automatic payments, change your address, and receive monthly statements. First Interstate online banking clients may use their existing login to access their account. If you are not an existing First Interstate online banking client, you may set up online banking using the following instructions:

Online Banking Enrollment Instructions
  • Visit firstinterstate.com
  • Click on the Login button located in the upper right corner
  • Select "Online Banking" from the drop-down menu
  • Click the "Enroll" button
  • Complete the registration form
  • Select the Account Type as "Consumer Loan"

Already enrolled?  Follow the steps to set up a repeat transfer within online banking.

Setting up a Repeat Transfer Within Online Banking
  • Login to your online banking account
  • In the top navigation, click "Move Money"
  • Select "Internal Transfer" to pay from a First Interstate Bank checking or savings account or select "Pay Loan from External Acct" to pay from another financial institution account
    • The first time you make a payment from another financial institution you will be asked to setup a new "Pay From" account
  • Complete the required fields
    • From = select an account from the drop-down menu
    • To = select your loan account
    • Date = defaults to earliest available payment date or you may choose a different date
    • Amount = Enter the dollar amount of the payment
    • Check the box "Repeat Transfer" and choose a payment frequency
    • To utilize the Pay Loan From External Account feature, the “I agree to the Terms & Conditions” box must be selected prior to scheduling a payment.
    • Click "Make Transfer" or “Continue”

Allow three business days for your payment to post to your loan account. Automatic Payment Transfers will not initiate and cannot be scheduled to process on the Weekend or on a Federal Holiday – your transfer will pull automatically on the following business day; further action is not required.

Automatic Transfer Authorization

Visit your local branch and complete an Automatic Transfer Authorization or call our Client Contact Center at 855-342-3400 Monday through Friday, 7:30 a.m. to 7:00 p.m. Mountain Time, and Saturdays, 9:00 a.m. to 2:00 p.m. Mountain Time, to complete this form over the phone, utilizing phone verification.

Learn more about Consumer Loans


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