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BillEase Review

The country’s economy is slowly recovering from the pandemic’s impact, such as unemployment, retrenchment, and the ever-increasing cost of living. Millions of individuals have lost their jobs, and one might wonder where they get money to buy necessities.

 

For some who do not have extra cash, the solution is to borrow from financing companies that offer installment payments. Enter BillEase. It’s a non-banking institution that provides short-term loans to consumers.

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Written by: Big Piggyy

Verified by: Krisette C.L

Krisette C.L

Author

Krisette has been hustling online media industry since 2011. She's a copywriter, editor, and online media consultant.

Loan Amount

Php500 to Php50,000
4.3/5
4.3/5

Piggyy Rating

Apply Now
BillEase

Loan Term

2 -12 months

Est. APR

% 41.88

Loan Amount

Php500 to Php50,000
Pros
  • Flexible payment terms.
  • Offers lowest interest rates.
  • Convenient payment methods.
  • Application to disbursement process is 100 percent online.
  • Buy now, pay later with over 600 merchant partners.
Cons
  • There is no increase in credit limit even for those customers with a good credit standing.
  • Limited to only BillEase’s partner merchants.
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Company Information

 

BillEase is an excellent choice for Filipinos looking for a way to shop at their favorite online stores and pay in installments without a credit card. It offers a simple and easy way to pay merchants on Lazada and other online stores such as Fresh Buys, Flower Store PH, and over 600 merchant partners through installment plans.

 

BillEase is the flagship product of First Digital Finance Corporation, often known as FDFC, a financial technology corporation specializing in developing innovative and effective retail credit products for Southeast Asia. Formerly, BillEase was known as Loan Ranger.

 

In 2017, BillEase was launched, making financial services more affordable and accessible for all Filipinos. 

 

BillEase is regulated by the Bangko Sentral ng Pilipinas (BSP) and has a Certificate of Authority No. 1101. Their main office is open on weekdays from 9 AM to 6 PM. Customers may reach them through

 

 

Products and Services Offered

 

Buy Now, Pay Later

 

BillEase has provided a Buy Now, Pay Later (BNPL) product for customers who cannot make a one-time payment for their essential purchases. It allows people to address their urgent financial needs and choose a more convenient way of paying for what they have bought. They can also select the installment term and total amount of downpayment to make it easy for them to pay for the remaining balance. 

 

Loan Features

 

  • Loan Amount / Order Value: Php2,000 to Php40,000
  • Down Payment: Php0 to Php32,000
  • Interest Rate: 3.49% per month
  • Approval: on the spot or within 1 banking day
  • Installment Term: 2 months to 24 months

 

 Eligibility

 

  • At Least 18 years old
  • Have a stable source of income

 

Requirements

 

  • 1 valid ID
  • Proof of Income
    • Payslips
    • Screenshots of bank transaction history
    • Upwork Certificate of Employment
    • Paypal Transaction History
    • Remittance Slips
    • Etc. 
  • Proof of Billing
    • Meralco Bill
    • Credit Card Bill
    • Water Bill
    • Cable TV Bill
    • Post-paid Plan Bill
    • Etc. 

 

Acceptable ID Cards with BillEase:

  • National ID (PhilSys)
  • Passport
  • Alien Certificate of Registration (ACR) / Immigration Certificate of Residence (ICR)
  • Driver’s License
  • GSIS e-Card
  • Integrated Bar of the Philippines (IBP) ID Card
  • NBI Clearance
  • Professional Regulation Card (PRC) ID
  • Senior Citizen Card
  • SSS Card
  • Unified Multi-purpose ID (UMID)
  • Voter’s ID
  • Postal ID (new)

 

Why Choose BillEase

 

Filipinos consider many factors before availing any financial products such as interest rates, loan amount, speed or processing, and the credibility of the lender. That said, BillEase guarantees excellent customer service at incredibly affordable interest rates. Below are the following reasons why Filipinos looking for financial services and products should consider BillEase:

 

Fast and Easy Application

 

The process of application with BillEase is done 100% online, so borrowers expect a smoother and faster transaction. There’s no need for them to visit the local bank and other lenders to fund their purchases. With BillEase, they only need to fill out and submit the application form, then submit the required documents online – it is that fast and easy, all from the comfort and safety of their own home.

 

Gives An Instant Acces To Exclusive Features 

 

One of the things that Filipinos consider when getting financial products is the speed with which they can get a response, and BillEase does not disappoint its customers. Customers who wish to avail BillEase financial products and services will be guaranteed 24-hour approval. It allows its customers’ instant access to exclusive features – from e-Wallet top-ups to mobile loading to bill payments – all through the app!

 

Payments are Made Quickly and Without Difficulty

 

BillEase ensures that its customers can settle repayments in several convenient and efficient payment methods. For example, customers can send their payments via GCash, Coins.ph, and mobile banking, which is the most suitable for users given the current pandemic.

Moreover, customers no longer need to mark their calendars or set a reminder because BillEase notices customers’ emails before their due date.

 

Shop Now and Pay Later at Your Favorite Stores

 

BillEase is committed to meeting the financial needs of its customers. The company has been working with over 600 merchants around the country to ensure that everyone, especially those on a tight budget, has the opportunity to purchase big ticket items at their favorite stores.

 

Whatever comes to mind, from meals and necessities to vacation expenses, BillEase has it covered for them. All there is left to do is sign up and select BillEase at checkout to take advantage of the company’s Buy-Now-Pay-Later services.

 

Sell More with BillEase

 

The thing with BillEase is that it is consumer-friendly and also benefits businesses seeking to convert visitors into buyers. Through its Buy-Now-Pay-Later option, BillEase guarantees a 50% boost in average order value. Furthermore, BillEase settles transactions via automated bank transfer,  allowing businesses to meet their target sales without taking any risks effortlessly. 

 

Flexible Credit Line

 

BillEase allows its customers to shop online without needing a credit card by offering them a quick credit of up to Php 40,000, and they can also apply for a personal loan with repayment terms ranging from 30 days to 12 months, whichever suits their needs. 

 

Positive Customer Feedback 

 

They say customer experiences determine a company’s profitability and efficacy. BillEase has consistently received a lot of great comments from customers and has always been recommended. The majority of them have been using BillEase for many years and are pleased with their services.

 

How to Sign Up

 

To sign up with BillEase and apply for their product,  follow these very simple steps:

Download now
1

Download the BillEase app through the Google Play Store or Apple App Store. 

2

Click on Sign up to start the registration process. Provide your name and contact number to begin. Remember to provide your mobile number in the application process.

3

Provide more contact and personal information and create your user profile. Set up your user password.

4

Enter the One Time Password (OTP) sent to your email ID. 

5

Enter the One Time Password (OTP) sent to your mobile number. 

6

Provide your complete address. 

7

Set up your 4-digit PIN and your Face ID for added security. 

8

Complete your BillEase account application by clicking on “Finish Application”.

9

Upload a government-issued ID. 

10

Wait up to 5 minutes while BillEase verifies the information provided. 

11

Tick the boxes to agree to the terms and conditions of use and then click on Continue. 

12

Provide details on the Source of Income by ticking on the most appropriate box. 

13

Enter the salary information required. 

14

You will be notified of the successful approval of your BillEase account. 

Frequently asked questions

How do I make payments?

Here are 5 different ways for you to pay for BillEase installment:

 

  • Direct Transfer to Coins.ph:
    You should click on their payment request.

    • You will then be redirected to several available payment channels, including coins.ph.
    • Next, follow Coin’s instructions on settling the payment due.
    • Once done, you will receive a payment confirmation, and the payment should reflect in your BillEase account.
  • Pay via GCash:
    • Select BillEase from the list of GCash’s Billers.
    • Input the name registered in BillEase as account name, the mobile number registered in their BillEase account, and their loan ID, (can be found in account view).
    • Now you can then pay for the installment.
    • The payment will be verified the next banking day and a confirmation will be sent to your registered e-mail address.
  • Linking Their Online Bank Account:
    • Link your Unionbank and BPI bank accounts and pay BillEase directly straight from BillEase account.
    • Choose among the list of payment partners of BillEase:
      • coins.ph
      • BDO, BPI
      • Security Bank
    • Payments via linked online bank accounts will be booked automatically. No need to send BillEase the customer’s proof of payment.
  • Bank Transfers:
    You can pay through bank deposit or online transfer –  free of charge (only if settled within the same bank).

    • However, the payment made will not automatically reflect in the system of BillEase, so make sure that you have e-mailed BillEase a copy of the deposit slip or a screenshot of their transfer to [email protected].
    • BillEase’s payment verification team will confirm the payment within the next banking day upon receiving their proof of payment.
  • Here are the partner banks and account numbers of BillEase:

 

BDO:

  • Account name: First Digital Finance Corp
  • Account number: 011290007371

 

BPI:

  • Account name: First Digital Finance Corp
  • Account number: 8101 0064 77

 

Security Bank:

  • Account name: First Digital Finance Corp
  • Account number: 0000-001768-090
How will I know if my application is approved?

BillEase will send the customers an email when their application is approved. It will also notify customers in case of non-approval through email.

How long is the loan processing time of BillEase?

Approval can be immediate or up to one day depending on the submitted documents of the customer. The key is submitting complete and clear documents and valid IDs.

I do not have proof of billing under my name. Can I still apply?

Yes, it is okay if the proof of billing is not under the customer’s name. It is sufficient that it is recent and has their home address.

Do I need a credit card to apply?

No, customers do not need a credit card to be eligible for BillEase’s installment plan.

Can I re-avail?

As long as customers have paid off their current installment plan, they can re-avail for another one immediately. Loyal customers with good payment records can enjoy added features, such as higher credit limits, longer installment terms, cash loans, and other cool perks.

Conclusion

 

BillEase’s Buy Now, Pay Later arrangements have truly helped Filipinos address their needs instantly without having to go through much loan processing. This form of financial assistance is tempting, especially to those who have no extra money or simply do not want to pay for their purchases all at once, to still set aside cash in case of emergencies. 

 

Thanks to BillEase’s financial products and services with low interest rates and flexible repayment plans, Filipinos can manage their finances and pay for their purchases online even without a credit card.

 

Big Piggyy

"Show me the MONEY!!!" – Jerry Maguire

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