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How do I Change My Auto Pay Account? | Private Student Loans

In order to change your bank account, it must be after the first 30-day billing period from the time your loan was disbursed. After this time period, you may update your Auto Pay account by following these steps:

  1. Sign in to your Earnest account and select "View Loan Details."
  2. Navigate to the hamburger menu in the top right corner and choose “Bank Accounts.”
  3. To add an account, click “Add New Account,” choose account type (checking or savings), enter the routing and account numbers, and select “Save.” You should now be able to view this account as an option for future payments under “Your Accounts.”

Switch the Auto Pay bank on the dashboard:

  1. Return to the dashboard by clicking the green Earnest logo and selecting "View Loan Details."
  2. Click “Change Auto Pay Settings” > “Edit Bank Account.”
  3. Select your desired payment account from the options available. 
  4. Confirm and save the changes.

After changing the account, you shouldn’t experience any lapse in your Auto Pay discount, but you may need to schedule a manual payment for the upcoming month while the system updates. If you complete the steps to unenroll from Auto Pay and attempt to enroll at a later date, then the system will update in such a way that will require you to make manual payments and lose the discount for 1-2 billing periods.

Lastly, your auto-payments can’t be changed within 3 business days of your payment date. This means if you change your payment account within 3 business days of a withdrawal, the payment may still be processed from the previous bank account. To ensure the payment debits from the new bank account, we advise that you update your preferred payment account right after your auto-payment date.

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