- 1 How to Check Easy Buy Balance, Payment Account Details
- 2 FAQs On How to Check Easy Buy Balance, Payment Account Details
- 3 How does Easy buy work in Nigeria?
How to Check Easy Buy Balance, Payment Account Details
Easybuy is a popular “buy now pay later” service that allows consumers to make purchases and defer the payment for a later date.
It provides a convenient and flexible payment option for individuals who may not have the funds available at the time of purchase.
With Easy buy, customers can enjoy the benefits of immediate gratification while spreading out their payments over time.
The concept behind Easybuy is simple. Instead of paying for an item in full at the time of purchase, customers can choose to pay in installments over a specified period usually, 3, 4, 5, 6 months.
This allows them to manage their finances more effectively and make larger purchases without straining their budget.
Easybuy offers a range of repayment options, including monthly installments or deferred payment plans.
To take advantage of Easybuy, you need to apply for an account with the service provider.
The application process may involve providing personal information, such as identification details and financial history, to assess creditworthiness.
Once approved, you can use their Easybuy account to make purchases from participating retailers.
This article is majorly for individuals who are on Easy buy loans and would like to repay at any time.
So that you would find it difficult making your loan repayment, you need to explore How to Check Easy Buy Balance, Payment Account Details. To get started, kindly delve in right now.
How to Check Easy Buy Balance, Payment Account Details
Let’s begin by looking into how to check easy buy balance followed by how to locate Easy buy payment account details.
Checking your Easy buy balance is a straightforward process. Here are the steps:
Log in to your Easy buy account: open the Easy buy mobile application on your smartphone.
- Navigate to the account section: Look for a tab or menu option that allows you to access your account details.
- Find the balance information: Once you are in the account section, you should be able to see your current balance displayed prominently. It will show “Activate” , that is, the particular amount you need to pay that month.
- Review transaction history: In addition to checking your balance, you may also have access to your transaction history, which provides details about previous purchases and payments made.
- To make the payment just click on the “Pay Now” button and follow prompts.
How to Check Easy buy Payment Account Details
To check your Easybuy payment account details, follow these steps:
- Log in to your Easy buy account: open the Easybuy mobile application on your smartphone.
- Locate the Easy buy payment account details: After you have logged in and found yourself on the app homepage, below the word “Active”, Click the “ Pay Now” button.
- After clicking the button, you will see the breakdown of how much you have to pay monthly.
- Choose the payment: Here you have to choose the month you want to pay for with the price tag on it by tapping the button as seen in the app, after that, click “Next”.
- Choose Payment Option: After clicking on the next button, you will be prompted with various payment options these are: transfer, payment through paycom or through Ussd code. Once you have located those mentioned above, click on any of them to process the repayment.
Advantages of Easy buy
The following are some advantages of Easy buy:
Convenience: One of the main advantages of Easybuy is the convenience it offers to customers.
It allows them to make purchases without having to pay the full amount upfront, which can be particularly beneficial for expensive items or unexpected expenses.
Customers can enjoy the product immediately and pay for it over time.
Flexible Payment Options: Easybuy provides flexible payment options, allowing customers to choose the duration and frequency of their installment payments.
This flexibility enables individuals to better manage their finances and budget their expenses accordingly.
No Interest or Low Interest: Depending on the specific terms and conditions of Easybuy, some providers may offer zero or low-interest installment plans.
This can be advantageous for customers who want to avoid high credit card interest rates or other financing options with significant interest charges.
Improved Affordability: By spreading out payments over time, Easybuy makes expensive products more affordable for customers who may not have the immediate funds available.
This can enable individuals to purchase items that they would otherwise have to save up for or delay purchasing until they have enough money.
Build Credit History: For individuals who may not have an extensive credit history, using Easy Buy responsibly can help build a positive credit record.
Timely payments can demonstrate financial responsibility and improve creditworthiness, potentially leading to better access to credit in the future.
No Need for Traditional Financing: Easybuy provides an alternative to traditional financing methods such as loans or credit cards.
This can be advantageous for individuals who prefer not to accumulate debt or those who may not have access to traditional credit options.
FAQs On How to Check Easy Buy Balance, Payment Account Details
Here are some helpful frequently asked questions on How to Check Easy Buy Balance, Payment Account Details with answers:
Which company owns Easy buy?
Easybuy, a retail credit and financing company, is owned by the Nigerian company, Easybuy Limited.
Easybuy Limited is a subsidiary of the United Bank for Africa (UBA) Plc, one of Africa’s leading financial institutions. UBA Plc provides financial services to individuals, corporations, and governments across 20 African countries.
How does Easy buy work in Nigeria?
Easybuy operates as a retail credit and financing company in Nigeria, offering consumers access to consumer goods on credit.
Customers can purchase items from participating retail stores and pay for them in installments over a specified period.
Easybuy works by providing customers with a credit limit based on their financial profile and repayment history. Customers can then use this credit limit to make purchases at any of the affiliated retail stores.
Easybuy also offers a Buy Now, Pay Later option, allowing customers to pay for their purchases over a more extended period.
What will Easy buy do to defaulters?
Easybuy, like any other financial institution, has measures in place to address non-payment or default of loans.
When a customer defaults on their loan repayment, Easybuy may take several actions, including:
- Sending reminder messages and notifications to the customer to encourage timely repayment.
- Reporting the default to credit bureaus, which can negatively impact the customer’s credit score and future borrowing opportunities.
- Initiating legal proceedings to recover outstanding debts, if necessary.
- Offering alternative repayment plans or debt consolidation options to help the customer manage their debt more effectively.
Can I block my BVN and get a new one?
Blocking your Bank Verification Number (BVN) is not possible as it is a unique identifier assigned to an individual by the Central Bank of Nigeria.
Once assigned, a BVN remains with the individual for life, even if they change banks.
However, if you lose your BVN or it gets compromised, you can request a new BVN from the bank where you initially registered.
Which loan apps are banned by Nigerian governments?
The Nigerian government has banned several loan apps due to concerns about their legitimacy, fraudulent activities, and the potential harm they may cause to consumers. Few of them are swiftkash and iloan.