Paying for your BillEase loan should be the least stressful part of your loan process. But unfortunately for most people, this is not so. So here we wrote down 5 tips that can help you settle your BillEase loan in a hassle-free way!
One of the greatest advantages of applying for an online installment plan is how easy the application process is. All you have to do is complete the form, submit copies of the necessary documents, and wait one banking day for your application approval.
Paying for your installment plan is also easy! For one, payment rates are low and (in most cases) there zero interests to take care of. There is also a myriad of convenient payment methods that you can use to pay for your loan!
Unfortunately for most people, repayment still poses quite a hassle. So here are some tips we dished out to make the process of paying for your Billease loan fast, easy, and hassle-free!
Make sure you register the correct and active email address and mobile number
Two days before your due date, our system will send you a payment request via coins.ph. The payment request is also accompanied with a reference number that you can use to pay for your BillEase loan in any of the 7-Eleven branches near you!
However, you won’t receive these updates if you didn’t register the correct email address or mobile number in the BillEase system. Or perhaps the email/number you registered is no longer active.
Because BillEase will use this information to communicate your repayment details to you, it is important that you make sure you registered the correct and active email address/mobile number in your account.
Learn how you can change your registered email address and mobile number here.
Take a careful note of your reference number
If your preferred payment method is via 7-Eleven stores, your reference number is your best friend. The reference number is what you will be presenting to the 7-Eleven cashier when paying for your BillEase loan.
So take a careful note of it. Save a copy on your phone. Take a screenshot of it. Better yet, print a copy and take it with you when you go to your preferred 7-Eleven branch. This way, you will experience a hassle-free payment process.
An important reminder: your reference number has a “valid only until…” date. Meaning, the reference number won’t be valid past that date. Make sure to use it before it expires to avoid any delays on your part.
Another important reminder: your reference number can only be used once. For your next payment schedule, BillEase will give you a new one to use.
Take note of the various alternative payment methods
Paying for your BillEase loan via 7-Eleven stores is not the only payment there is! You can also pay via Cebuana Lhuillier and M Lhuillier branches, coins.ph, or via bank deposit.
A guide on how to pay via these methods can be found here. You can also refer to our Frequently Asked Questions for BillEase’s bank details.
Or you can refer to the picture below!
Take note of your payment details
Aside from your reference number, it also pays to take note of your payment details.
Take note of your amount due and when it is due. Make sure to pay it in full and on time to avoid incurring any penalties. If you already have penalties, make sure to take into consideration as well.
Certain payment methods (such as Cebuana and M Lhuillier) also require a minimum processing fee depending on the amount of your transaction. Make sure that you take this into account when paying for your BillEase loan.
Borrow only what you need and what you can pay
This is definitely the most important thing to note with regards to your BillEase account.
Applying for an installment plan is a great way to get your dream purchases without breaking the bank. But it can also pose problems if not managed properly.
So make sure you have a clear idea of how much your monthly payment dues will be before applying for a loan or requesting a voucher. Take note of how much you will be borrowing, along with your payment schedule. Read the terms and agreements thoroughly before signing it.
This way, you are fully informed and prepared when paying for your BillEase loan.