General Information to use MB Loan Pay

How does Loan Pay work?

You can use Loan Pay to make a payment online for your motorcycle, Powersport, RV or marine loan easily with a checking account or savings account.

You must pay the payment amount required under your loan agreement as reflected on your statement or coupon book.  This is the only payment amount you can pay using Loan Pay. 

You can cancel future-dated payments or turn off recurring payments by logging in to your Loan Pay account.

How do I enroll my loan account?

You can enroll online here .  It’s a simple process.  To enroll, you will need:

·         Loan number, you can find this on your Welcome Letter, coupon book or your monthly billing statement

·         First and last name as it appears on your loan documents

·         Last 4 digits of your social security number

·         An active and valid email address

·          To establish an acceptable User ID and Password

o    User IDs must be between 8 and 32 characters using only letters and numbers, no spaces.

o    Passwords must be between 10 and 32 characters and include at least 1 capital letter, 1 lowercase letter, 1 number and 1 special character. Passwords are case sensitive.

o    Read and agree to the Service and E-Sign agreement before you can move forward to the next steps of registration.

 

Making a Payment

How can I make a one-time or recurring payment on Loan Pay?

You can make a one-time payment or set-up recurring payments online once you have enrolled and logged in to your account.  Follow the prompts and complete all necessary information.

A payment made online must be made prior to 7:30 p.m. CT on a Business Day to be credited and posted the same day.  Payments made after 7:30 p.m. CT, on Saturday, Sunday or a Federal holiday will be credited and posted the following business day.   PLEASE NOTE: It may take an additional 1-2 banking days for the payment to show on your bank account records.

How can I confirm my payment has been completed?

You will receive an email confirmation to the email address you provided when you enrolled.

Can I cancel a one-time online payment?

Yes.  A one -time payment may be canceled online before 7:30 p.m. CT on or before the same day it is scheduled to occur by clicking CANCEL next to the pending transaction on the Loan Pay – “Customer Summary” page.  

 Can I cancel a recurring scheduled payment?

Yes. Recurring scheduled payments can be canceled before 7:30 p.m. CT on the same day it is scheduled by clicking CANCEL next to the pending transaction on the Loan Pay home page after you log in.  This action will cancel all future payments.  A business day means any day other than Saturday, Sunday or a Federal holiday.

What other ways can I make a payment?

Auto Pay By completing our Automatic Payments form, you can set up your payment to be initiated by MB Financial Bank once a month. Auto Pay is a simple, convenient way to ensure your regular monthly payment is on-time every month. Once enrolled in Auto Pay, your payment is automatically deducted from your bank account each month.

Pay by mail – Payments may be sent via regular mail to MB Financial Bank, P.O. Box 6261 Chicago, IL 60680 or via overnight mail to MB Financial Bank, 6111 N. River Road, Rosemont, IL 60018.  Mail the payment coupon with a check or money order payable to MB Financial Bank. Please include your loan number on your check or money order.  Do not send cash by mail and do not include correspondence with mailed payments.  Payments sent to MB through mail are credited and posted the same business day they are received by MB.  A business day means any day other than Saturday, Sunday or a Federal holiday.

Pay by phone You can call us at 1.888.422.6562 during regular business hours (8:00 a.m. to 5:00 p.m. CT) and a representative can assist you with making a payment over the phone.  Please note if you want to cancel a same-day payment by phone, you must notify us on the same day by 5:00 p.m. CT.

What is the difference between Auto Pay and Recurring Payments?

Auto Pay is an automated payment that is set up (with information you provided) and initiated by MB Financial Bank once a month. Auto Pay is a simple, convenient way to make your regular monthly payment. Once enrolled in Auto Pay, your payment is automatically deducted from your bank account each month.

Recurring Payment is set up and initiated by you online within our Loan Pay Portal. Once you have set up a Recurring Payment online, your payment is automatically deducted from your bank account each month.

 

 

Do I have to cancel Recurring Payments set up through Loan Pay when my loan is paid in full?

If you setup your own Recurring Payment through Loan Pay, then you will need to log in and cancel the payment yourself once your balance is paid in full.   

How do I make an additional principal payment?

You can only schedule the payment amount required under the terms of your loan through the Loan Pay website.  If you wish to make an additional principal payment, we can assist you over the phone if you call us at 1.888.422.6562 during business hours.

If you choose to mail your payment or visit an MB Financial banking center, please provide clear written direction that you would like additional funds to be applied to principal.

How do I pay outstanding fees, such as late fees, on my loan?

If you wish to pay outstanding fees, we can assist you over the phone if you call us at 1.888.422.6562 during business hours (8:00 a.m. to 5:00 p.m. CT).  Only the payment amount required under the terms of your loan can be scheduled through the Loan Pay website. 

If you choose to mail a payment for outstanding fees or visit an MB Financial banking center to pay outstanding fees, please provide clear written direction that you would like additional funds to be applied to outstanding fees.

How can I make up for missed payments?

You may contact us at 1.888.422.6562.  We would be happy to assist you.

What if my loan payment is returned for Non-Sufficient Funds (NSF)?

If you do not have enough money in your bank account at the time the payment is processed, the loan payment will not be paid and you may be subject to NSF fees as permitted by your loan agreement and state laws.  This fee will be assessed to your loan and added to your loan amount and must be paid before any collateral will be released.  We may attempt to process your payment up to two (2) times in the event your payment is rejected for insufficient funds.  Please note your bank may also assess NSF fees and you are responsible for determining what fees your bank may charge. 

How can I payoff my loan?

Payoff Amount by Phone You can obtain a verbal loan payoff amount by calling 1.888.422.6562.  This verbal loan payoff amount remains valid for 10 days.

Payoff by mail – Payoffs may be sent via regular mail or via overnight mail to MB Financial Bank, 6111 N. River Road, Rosemont, IL 60018.  Mail the check or money order payable to MB Financial Bank. Please include your loan number on your check or money order.  Payoffs sent to MB through mail are credited and posted the same business day they are received by MB.

Payoff in person – Payoffs may be made at any MB Financial banking center.  Payoffs will be credited and posted the same business day the payoff is received.

Payoff by phone You can call us at 1.888.422.6562 during regular business hours (8:00 a.m. to 5:00 p.m. CT) and a representative can assist you to take a payoff over the phone. Payoffs will be credited and posted the same business day the payoff funds are received.   Please note if you want to cancel a same-day payoff you must notify us by phone by 5:00 p.m. CT.

My Account

What if I forgot my User Id?

If you do not know your User Id, use the Forgot User Id feature on the sign in page to Loan Pay.   After you complete the necessary information, you will receive an email containing your User Id.

What if I forgot my password?

If you do not know your password, use the Forgot Password feature on the sign in page to Loan Pay.   After you complete the necessary information, you will receive an email with a link to reset your password.  The link in the email will expire in 30 minutes, so please reset your password promptly. 

What if I get locked out of my account?

Your account will be locked if you make five (5) unsuccessful attempts.  If this happens, you will be directed to call us at 1.888.422.6562 during regular business hours (8:00 a.m. to 5:00 p.m. CT) and a representative will assist to unlock your account.  Once unlocked, you can reset your password using the Forgot Password feature on the website. A representative will not be able to reset your password for you. 

Can I change the email address I used to enroll in the service?

Yes.When you login to your Loan Pay account, there is a dropdown menu on the upper right hand side.Select PROFILE from that menu and click on Update Email.  You will enter the new email address and re-enter to confirm. Please note, all payment activity done through the Loan Pay application will generate an email notification to this email address.

How do I change my mailing address or telephone number?

If you would like to change your mailing address or telephone number, please contact us at 1.888.422.6562 and a representative will mail or email you a Contact Update Form.