Skip-A-Payment

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Learn About Skip-A-Payment

Everyone Needs a Break. Take a Break from Your Loan.

Everyone could use extra funds from time to time, and at AMOCO, our convenient Skip-A-Pay allows you to take a break from your qualifying loan payment(s) right at your fingertips through our Online Banking or Mobile Banking App! For just $25 per loan, you can skip your next loan payment conveniently in less than a minute through our Online Banking or Mobile Banking App. The best part is your approval is instantaneous! Once you’ve skipped your loan payment, you’ll receive an instant approval message, and your new loan due date will automatically update in real-time, with no forms or manual review needed. Whether you need the funds for a large purchase, vacation, or an emergency, you can skip your payment when it is convenient for you – and up to two times a year!

Eligible Loans:

  • Auto Loans
  • Boat Loans
  • Motorcycle Loans
  • Personal Loans
  • Other Vehicle Loans

Loan Requirements:

  • Loans cannot be 30 days or more past due.
  • New loans must be open 6 months and have 90 days of consecutive payments before making their first skip.
  • Loans must have 90 days of consecutive payments between each skip.
  • Your next loan payment cannot be more than 45 days in the future.
  • Maximum of two skips per calendar year.
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Skip-A-Pay cannot be applied to the following loan types: mortgage, single-pay, courtesy pay repayment, GAP, share secured, term share secured, credit builder/mender, or credit card. Exclusions apply if the accrued interest on loan exceeds the base payment amount or if the loan is currently under a total debt restructure, distressed loan modification, or bankruptcy proceedings.

Skip Access

Get started with a computer:

  1. Log into your account.
  2. Select “Resources”, then choose “Skip-A-Pay” from the options menu.
  3. Select the loan and month to be skipped.
  4. Choose the account to fund your skip.
  5. Agree to the Terms and select “Confirm.”

Get started with your mobile phone:

  1. Download or log into the Mobile Banking App.
  2. Tap “More” on the bottom menu, then select “Resources.”
  3. Choose “Skip-A-Pay” from the dropdown menu.
  4. Select loan and month to be skipped.
  5. Choose the account to fund your skip.
  6. Agree to the Terms and select “Confirm.”
Get started in-branch:
While you have the option to skip your loan payment(s) through our Online Banking and Mobile Banking App, you are welcomed to visit a branch if needed.
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Skip-A-Payment FAQs

The answers you need to the questions you have.

All loans are eligible for the skip-a-pay request except for mortgage, single-pay, courtesy pay repayment, GAP, share secured, term share secured, credit builder/mender, or credit card.

Yes, as long as it is a qualifying loan type and meets all eligibility requirements.

Login to your Online Banking or Mobile Banking App, access the Skip-A-Pay widget, and you will be able to view which loans are eligible to skip. You can skip your loan if you have 90 days of consecutive payments between each skip.

New loans must be open 6 months and have 90 days of consecutive payments before being eligible to skip. 

Loans must meet the following requirements to be eligible for a skip:

  • Loans cannot be 30 days or more past due.
  • New loans must be open 6 months and have 90 days of consecutive payments before being eligible to skip. 
  • Loans must have 90 days of consecutive payments between each skip.
  • Your next loan payment cannot be more than 45 days in the future.
  • Maximum of two skips per year.
You will need to fund the fee with either your Savings account or Checking account. To do so, you can make a deposit in person at a branch, or do an online transfer using Mobile Banking, Zelle, or an external transfer.

There is no waiting necessary. You will instantly know once you have skipped your loan(s). You will see your next due date in your Online and Mobile Banking. You will also receive a confirmation email verifying that the loan(s) were skipped.

It depends on how your loan payment method is currently set up.

  • If your loan payment method is set up and controlled by AMOCO as a payroll allocation or share transfer: AMOCO will advance the due date 30 days for you and there is nothing you need to do.
  • If your loan payment method is set up as an allocation (ACH origination) from another financial institution: AMOCO will pause your allocation for 30 days and automatically restart your payments after the skip period has ended.
  • If your loan payment method is set up and controlled by you through Bill Pay, Online Banking, our Loan Payment Center, or with another financial institution: You will need to stop the loan payment.

Skip-A-Pay is now more accessible and convenient than ever. Our new process allows you to see which loans are eligible to skip upfront, and the process takes less than one minute. You also can skip your payment any time of the year! We worked hard to make these skip enhancements work better and easier for you!

We highly recommend registering for both our Online Banking and Mobile Banking App to control and access your accounts 24/7. However, you don’t need to have the Online Banking or Mobile Banking App to skip your payment. Please contact us if you need to skip your payment.

If you have any questions about your skip-a-pay request, please contact us online.Â