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Citadel Skip-a-Pay FAQs
Skip-a-Pay Frequently Asked Questions
Review our frequently asked questions below to get quick answers and tips on using Citadel's new Skip-a-Pay in Online and Mobile Banking.
Frequently Asked Questions
How do I skip a payment in Online Banking or the Mobile App?
To skip a payment in Online and Mobile Banking:
- Log in to your Citadel Online Banking account or the Mobile App
- From the 3 dot menu in desktop or from the ‘More’ section of the menu in mobile 'Skip A Pay'. You will need to accept the Terms and Conditions before continuing.
- Select the loan you would like to skip and select the account you would like to draw the fee from, click review and submit, and you are done.
If you have multiple auto loans with different ownership you will need to utilize the switch account feature to access other loans.
What loans are eligible for Skip-a-Pay?
Auto loans are eligible for the Skip-a-Pay program. Mortgage loans, Personal Loans, Overdraft Protection, Credit Card loans and past due loans are not eligible.
After I use the Skip-a-Pay program, when will my next payment be due?
Regular payments will resume on the first regular payment date of the month following the skip.
How do I qualify to be eligible for Skip-a-Pay on my account(s)?
To qualify for Skip-a-Pay, your loan must meet the following requirements:
- All loan and deposit accounts must be in good standing. No accounts may have a negative balance, and all loans must be current at the time of the request (grace period does not apply).
- You may not have any charge offs, bankruptcy filings, or repossession against the credit union.
- You can skip any eligible loan one time every six months. If you have multiple loans that are eligible, each loan will be on separate cycles depending on if/when they were last skipped.
- You are able to request to skip a payment up until 11:59 pm of the loan due date. The earliest Skip-a-Pay can be requested is after you make your payment for the month prior to the month you want to skip.
When I use the Skip-a-Pay program, does it also skip my interest for the month?
Your interest/finance charges will continue to accrue at the rate provided in your original loan agreement. Deferring payment(s) will result in higher total interest/finance charges than if payments were made as originally scheduled; and will extend the terms of loan(s) resulting in extra payment(s) after you loan(s) would otherwise be paid off.
How does Skip-a-Pay affect my loan term?
Skipping a payment results in an extension of your loan by one month. All other terms and conditions as stated in your original loan document remain the same.
When does my fee come out of my account?
Your fee(s) will be deducted, at time of request, from the account of your choice. Request(s) will be denied if there are insufficient funds for fee(s).
How long do I have to have my loan, in order for it to be eligible for Skip-A-Pay?
To be eligible for Skip-a-Pay, loans must have been open a minimum of 6 months prior to the due date being skipped.
How much is the Skip-a-Pay fee?
The fee to skip a payment on your auto loan is $35 per eligible loan being skipped.
I have GAP Insurance on my loan. Will that extend to the end of my term if I use Skip-a-Pay?
If you have GAP insurance, the coverage will not extend beyond the original maturity date of the loan nor will GAP cover the deficiency balance arising from skipped payments as disclosed in the Installment Sales Contract/Loan GAP Waiver Addendum Election Form.
What happens with the Credit Life, Disability Insurance and/or Debit Protection insurance I purchased with my loan?
If you previously elected Credit Life and/or Disability Insurance, or Debt Protection insurance, premiums will continue being added to the loan(s) during the extended term months in order for benefits to continue.
My Skip-a-Pay was successfully processed but my due date has not advanced yet, when is my next payment due?
Please allow 24 hours for your due date to be reflected in Online & Mobile Banking. Your due date will advance one month.
Still have questions? Learn More about Skip-a-Pay.
