Guarantor/Beneficiary Accounts

Guarantor Accounts are Accounts that have agreed to pay the bills for another Account.

Beneficiary Accounts are Accounts associated with a Guarantor Account.

Guarantor Accounts have the following characteristics:
  1. When entering a Payment, all the outstanding debits of the Beneficiary Accounts are present.
  2. Automated Payment processing for the Guarantor Account includes debits from the Beneficiary Accounts.
  3. Overdue amounts for Beneficiary Accounts do not affect the Guarantor Account. In other words, Beneficiary and Guarantor Accounts may be separately overdue.

Unlike Accounts where multiple locations and multiple services are billed and sent to the Account holder, billings for beneficiaries are not sent to the Guarantor but are sent to the Beneficiary Accounts. This allows for an approval process by the Beneficiary.