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Ready Pay FAQs

Here you will find frequently asked questions about Ready Pay, Ready Pay Now, and Ready Pay VRU:

Q. What is Community Trust Bank Ready Pay?

A. Community Trust Bank Ready Pay is a service that allows you to make electronic payments on your CTBI installment loans. By clicking the link on the Ready Pay page, you will be able to set up an account and make a payment or set up automatic payments on your installment loan(s).

Q. What are electronic payments?

A. Electronic payments are electronic transactions such as deductions from a checking or savings account which are used to make a payment. The electronic payment is used in place of paper checks to pay bills and other recurring charges. These payments are sometimes called automatic payments, automatic debits, or ACH payments.

Q. Will I have a user name and password?

A. Yes. In order to set up the account, you will have to provide an email address and create a unique user name and a password to login to your account and set up payments on your installment loans. You may also use the Community Trust Ready Pay Now feature that allows you to make a one-time payment on your installment loan without setting up an account.

Q. Can I pay my installment loan payments over the phone?

A. Yes. You can pay your installment loan payments by using the Community Trust Ready Pay VRU system [1-866-524-9342]. This is a voice automated service that will allow you to enter your deposit account information and make payments to your installment loans. The automated voice system is available in English and Spanish.

Q. What information do I need to make a payment on an account?

A. You will need your 16 digit account number that is located in your coupon book. The first part of the number has 11 digits and the second part of the number has 5 digits. (XXXXXXXXXXX XXXXX). In addition, you will need to have your 5-digit zip code in order to make a payment. Once you select the link, you will create an account with this information.

Q. What if I do not have my coupon book and I don't know my account number?

A. You can either visit any of our branches in Kentucky, Tennessee, or West Virginia to obtain your account number, or contact Customer Service at 1-800-282-7762 and answer security questions to verify that you are the owner of an installment loan with Community Trust Bank, Inc. Once you are properly identified, you will be given your account number to use on Community Trust Bank Ready Pay.

Q. What types of loans can I pay from Community Trust Ready Pay?

A. You can only pay consumer installment loans from Community Trust Ready Pay. At this time, you cannot pay mortgage loans, home equity loans, home equity lines of credit, and/or commercial loans from this system.

Q. What other ways are there for me to pay my installment loans at Community Trust Bank?

A. You have several options for making payments on installment loans, such as:

  1. You can pay your installment loan payments by presenting a check or cash at any of our branches located in Kentucky, Tennessee, and West Virginia. Click here to find the CTB location near you.
  2. You can pay your installment loan payments by mailing a check or money order directly to Community Trust Bank at P.O. Box 2947, Pikeville, KY 41502. It is important that you include the account number being paid on the money order or check.
  3. If you have a deposit account with Community Trust Bank, you can sign up for Consumer Internet Banking and pay your installment loan payments through an online transfer or through Community Trust Bank's bill pay system, which is part of Internet banking.
  4. You can pay your installment loan payments by going to the Community Trust Ready Pay or Community Trust Ready Pay Now page, and clicking the link.
  5. You can pay your installment loan payments by using the VRU system through Community Trust Ready Pay that is described above.
  6. You can sign up for automatic payments by visiting your local branch. This option will create a monthly automatic debit transaction to your deposit account which will pay your loan payment.
Q. What does it cost me to use Community Trust Ready Pay, Ready Pay Now, and the VRU voice automated system?

A. There is no charge for the use of any of the three options. Community Trust Bank does not charge a convenience fee for this service. The Bank desires that you have an easy way to pay your installment loans.

Q. How many days does it take the payment to reach Community Trust Bank and be credited to my installment loan account?

A. If you make an installment loan payment prior to 7:00 p.m. eastern time, the payment will be credited to your loan account the same day, and reflected/viewable on your loan account on the next business day. If the payment is made after 7:00 p.m. eastern time, the installment payment will be credited to your loan account the next business day, and reflected/viewable on the loan account until two business days after the payment was made.

Q. How is the payment deducted from my account?

A. By using Community Trust Ready Pay, Ready Pay Now, and/or the VRU voice automated system, you are acknowledging that you own the deposit account from which the installment payment is being made, and you are authorizing the bank to initiate an ACH debit from your deposit account to Community Trust Bank to be credited to your installment loan account. In order to use the Community Trust Ready Pay, Ready Pay Now, and the VRU payment system, you must review and agree to the terms and conditions PDF.

Q. Do the Community Trust Ready Pay and Ready Pay Now systems accurately reflect the amounts due on my installment loans account?

A. The Community Trust Ready Pay, Ready Pay Now, and Ready VRU notification of amount due on your installment loan account may not always present the actual amounts owed. For example, the amount due may not reflect payments that have been made when the payment method did not have adequate funds to satisfy the payment amount and have been returned due to insufficient funds. In this case, Community Trust Ready Pay, Ready Pay Now, and Ready VRU payment systems may show the amount due as zero, when in fact there are sums due because of the returned ACH. There could also be other reasons that the amount on these systems do not reflect the actual payment amount due. This is a payment system, and may not contain the most current information about amounts due on your account. To verify the current payment due and balance information on your installment account, contact either your loan officer, local branch, or Customer Service at 1-800-282-7762.

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