Customer Solutions Center

External Loan Payments FAQs

What is External Loan Payments?

External Loan Payments allows customers to use an account at another Financial Institution to make a payment to their Washington Trust Loan via Personal Online Banking.

How do I register for Online Banking?

To use External Loan Payments, you must be registered for Online Banking. To register, click here.

How do I access External Loan Payments?

Once you are logged into Online Banking, simply select Transfer Money and then Loan Payments.

Can I use a deposit account at Washington Trust within External Loan Payments?

To issue a payment to your Washington Trust Loan from a Washington Trust deposit account, simply use the Transfer Money feature.

Can I use a Credit Card or Debit Card to issue my loan payment?

Currently, only checking and savings accounts are supported as payment options.

What kinds of loans can I use this service for?

You can use External Loan Payments for any of your consumer loans with The Washington Trust Company.

Can I use External Loan Payments to issue a payment to my Commercial Loan?

Currently, the External Loan Payments service is only available for Consumer Loans.

Is there a fee for using External Loan Payments?

There is no fee for using the service.

What is the cut-off time in which I have to issue a loan payment?

The cut off time is 3:45 PM (ET) Eastern Time, not including weekends or holidays.

Can I cancel a payment?

Yes, you can cancel a payment. You have until 3:45 PM (ET) Eastern Time to cancel a scheduled payment.

What will happen if I schedule a payment on a weekend or holiday?

Your payment will be processed on the next business day.

Can I issue a final payment and close out my loan using the service?

In order to issue a final payment and close out a loan, you must contact our Loan Operations Department at 401-348-1336.

What happens if I don’t have sufficient funds to process my payment?

Your payment will be returned, which could result in your payment being late and additional fees or charges.

Will I be able to view my payment history?

You will have 90 days of External Loan Payment history available to you.

How often can I schedule an External Loan Payment?

You can schedule one payment per day.

Is there a maximum number of External Loan Payments I can schedule in a month?

You can schedule no more than 5 (five) payments per loan in a 28-day rolling period.

Are there any maximum limits?

The daily limit of your External Loan Payment transfer cannot exceed $19,999.99. In a 28-day rolling period, your External Loan Payment transfer cannot exceed $50,000.00.

Can I issue a payment if I don’t have an amount due?

Yes, you can issue a payment if you don’t have an amount due.