Frequently Asked Questions
Frequently Asked Questions
- How do I enroll with SilverBills?
Contact SilverBills. SilverBills will provide you with a service agreement. Sign the service agreement and return the service agreement and a voided check to SilverBills. Once you return the signed agreement and a voided check, SilverBills will begin working with you to provide services. You will then need to provide SilverBills with one sample of each bill that you would like SilverBills to manage. If you do not have copies of bills at the outset, you may send additional bills at any time in the future.
- How can I send documents and bills to SilverBills?
You may transmit documents and bills to SilverBills in any way that is easiest: email, text, fax or mail. Once you are enrolled, SilverBills will supply you with business reply envelopes of varying sizes. Should you choose to mail anything to SilverBills, simply place it in the business reply envelope. The envelopes are prepaid and preaddressed to make it easy. Please note: SilverBills only needs one (1) sample of each bill. Going forward, SilverBills receives bills directly from your vendors. You will receive a lot less mail and do not have to continue sending bills to SilverBills monthly.
- Do I need to use a computer to benefit from SilverBills?
No: SilverBills was specifically designed to benefit individuals who do not have or want to use computers. However, if you use a computer and want to access your account, you will be able to do so at any time using the SilverBills secure portal.
- Is SilverBills insured?
Yes: SilverBills maintains both professional liability insurance and theft insurance.
- How does SilverBills ensure my bills are paid?
Once SilverBills analyzes a bill, makes sure it is satisfactory and approves it, SilverBills provides your vendor (i.e. the phone company) with the authorization to debit your checking account in the amount specified.
- Who has access to my checking account?
SilverBills does not have direct access to your checking account. Your vendors are granted permission to debit their payments, but they cannot see any information in your account. SilverBills may see read only information from your checking account, if you authorize this and you must have online access to allow SilverBills to do this. SilverBills can assist you with this process.
- How do you pay a vendor or individual who does not accept ACH debits?
SilverBills will use a 3rd party payment processor to send a paper check.
- How do you know if I have enough money in my account to pay my bills?
SilverBills uses a budget at the outset to understand your monthly expenses and income. If there is a significant variation from this budget for any expenditure, SilverBills will contact you to address the issue. If you have authorized SilverBills to obtain read only data from your bank account, SilverBills can also check your bank balance.
- Do you ever go into my account to withdraw money to pay bills?
- How will I have access to SilverBills activities?
You and any of your authorized representatives will be able to see all bills online should you chose to do so via the SilverBills portal. In addition, most clients choose to continue to receive their checking statements showing all activity. You may also elect to get a separate monthly SilverBills statement should you wish to receive one.
- Will I still have access to paper bills and a paper bank statement?
If you choose to, you can still receive paper bills.
- Who do I call if I discover a problem or have a question?
Call SilverBills any time at: 866 653 4427 or email: [email protected]
- Will someone reach out to me if there is a problem?
Yes: SilverBills provides concierge level service and will contact you with any issues.
- I am visually impaired how will I know what is going on?
SilverBills will contact you on the phone. SilverBills will go over your monthly expenses on the phone.
- I am hearing impaired how will I know what is going on?
You will continue to receive your monthly checking statement in the mail. You can also choose to receive an additional SilverBills statement in the mail.
- What if I’d like to add new bills at some later date? How does this work?
Call SilverBills anytime at: 866 653 4427 or email: [email protected] SilverBills will obtain your authorization to add a new vendor.
- How much notice must I give to cancel services?
- Who will reimburse me for any financial errors?
SilverBills guaranties correct and timely payment and will reimburse you for any errors.
- How will I be reimbursed?
SilverBills will pay the vendor for any amounts attributable to errors. If you have already paid the vendor, SilverBills will issue a check to you.
- How does SilverBills differ from autopay?
Autopay can be a confusing concept and the term is not used consistently. In general, autopay is when an individual provides banking credentials to a vendor, such as the electric company and that is the end of the interaction. The electric company simply deducts the monthly amount with no further action on the part of the individual in terms of reviewing the charge prior to the payment. As opposed to autopay, SilverBills stores the actual electric company bill and analyzes the bill prior to the bill due date and any payment being processed. This is a big differentiating factor from the autopay process. At that point, if the charge is satisfactory the payment may be processed as an “autopay” payment, because the vendor is deducting its payment from the individual’s bank account. However, SilverBills is not simply setting up autopay and leaving it at that. SilverBills is highly attentive to the timing of the process and also secures the backup documentation.
- Does SilverBills work with Powers of Attorney and if so how?
Yes: SilverBills works with Powers of Attorney. The Power of Attorney may sign the service agreement and provide direction to SilverBills. SilverBills simply needs a copy of the Power of Attorney to ensure that the document is sufficient.
- Does SilverBills need a Power of Attorney from me?
No: SilverBills does not need to obtain Powers of Attorney from clients. SilverBills is granted the authority to conduct its activities pursuant to the service agreement signed by the client.
- What if I only want SilverBills to pay one bill? What if I want to resume paying a bill that I have already provided to SilverBills?
SilverBills is a concierge service meaning SilverBills focuses on customer service and providing services tailored to the requirements of each individual client. A client may want SilverBills to manage one bill per month. That is not a problem. A client may also want to remove a bill from SilverBills services. Removing a bill simply means contacting SilverBills and indicating that SilverBills should no longer handle that particular bill.
- What if my country club, for example, is only able to issue paper statements?
SilverBills receives paper bills from vendors from all over the United States. It is not a problem for SilverBills to manage paper bills. SilverBills employs the same process of scrutinizing and storing paper bills that it uses for all other forms of bills.