FAQs
On your Pennymac AutoPay plans, can I cancel a draft payment that's scheduled for today?
Unfortunately, no. We are not able to cancel or stop an AutoPay draft that is scheduled for today. By the time the draft date arrives, the transaction has already been securely routed into the banking system for processing and cannot be intercepted.
Modifying Future Payments:
To give the banking system enough time to process your request, any changes to your AutoPay schedule must be submitted at least three business days prior to your next scheduled draft date.
How to update your settings:
You can easily pause, cancel, or change your AutoPay preferences at any time! Simply follow these steps:
- Log in: Access your secure account at PENNYMAC.COM.
- Navigate to payments: Go to your Pending Payments or AutoPay settings section.
- Make your changes: Update your draft date, adjust your payment amount, or cancel the draft entirely (as long as it is 3 business days before the scheduled date).