How Exactly Do Electronic Bill Payments Work?

August 19, 2021

Many families pay more than 20 types of bills for utilities and other services every month. But what happens when you don’t have the cash to cover them until the last minute? It’s no wonder some payments get lost in the shuffle or become difficult to pay on time.

When life gets complicated and you’re in a bind, electronic bill payment can be a lifesaver. It saves you the hassle of navigating each company’s website and remembering passwords. Most of all, it’s there when you need to get your money through within hours. Folks living in Chicago’s south suburbs have access to four different South Suburban Currency Exchanges (SSCE), where they can get help paying their gas, electric, and other expenses ASAP to avoid late fees or other penalties.

Electronic bill payment provides more than a few benefits:

  • Convenience
  • Allows you to handle finances in one place
  • No bank account necessary
  • Multiple services from one location
  • Guaranteed security and reliability
  • Handled by trusted professionals

A Convenient Form of Bill Payment for South Chicagoans

Life’s more complicated than it used to be, and so are our routine expenses. Electronic utilities include a whole range of payment services that extend well beyond gas and electricity. Some consumers use it to send money to inmates or to make child support payments. Here are the types of bills consumers can pay – and have the money go through instantly – at their local currency exchange:

  • Rent
  • Electric
  • Gas
  • Insurance
  • Cable
  • Credit Card
  • Auto
  • Loans
  • Mortgage
  • Cell Phone
  • Internet
  • Utilities

What Are Electronic Utility Bill Payments?

You bring your bill. We do the rest. When the helpful professionals at SSCE act as direct agents, bill payments can be posted within the hour. Having them paid electronically in person gives you a little extra time to get your finances in order. Maybe you’re getting paid on a Friday and a bill is due that day. This way you can stop on by with your paycheck and let someone else make the payment for you.

Most payments go through an authorized payment source called CheckFree. If you prefer, there is an option for Western Union and Money Gram.

This process protects customers from any interruption of services such as COMED, NICOR, AT&T, Comcast/Xfinity. It’s not just the late fee you may be charged. You’re also saved from the hassle of contacting the company, working your way through their automated system, and explaining your situation to customer representatives – not to mention potential penalties you may face in order to resume service.

Why Pay Electronically?

Most monthly bills can be paid online nowadays. But you still need to oversee each one to ensure there’s money in your account so you don’t get charged an overdraft fee. Automatic payment is great if you know you’ll always have more than enough money to cover them. But when bills add up or work is sporadic, keeping on top of each one can become a headache. If you won’t always have enough funds at the end of the month, an automatic payment service is no longer an option. You’ll need a safe and reliable alternative for same-day payments.

The other main reason is to avoid late fees, which can be as high as 10% on charges for bills not paid by their due date. For instance, some mortgage companies charge between $30.00 and $100.00 in late fees. And services your household depends on can be shut off if you’re unable to pay due to a shortage of cash. When that happens, you might face other hassles or fees to get those services back, putting you even further in debt.

Get Bills Paid Fast and Easy at SSCE

Chances are if there’s a monthly bill you need to pay, SSCE contracts with them. A client can walk into one of four SSCE locations, make a $2,500.00 monthly mortgage payment, and have it post within thirty minutes or twenty-four hours, worry-free – with no late fees. With over 3,000 billers accepting payments at SSCE locations, it would be impossible to list each one.

Loan, rent, and mortgage payments accepted are typically credited within 15 minutes. Just bring in the bill and some form of payment, and you can leave within minutes.

What’s Required of You?

Setting up electronic bill payment is simple. All you need to bring are:

  • Some form of payment (cash, debit card, or credit card)
  • Other pertinent information relating to the service

Call first for availability, as store locations may have slightly different offerings or charges. This holds true for most companies, including credit cards and mortgage companies. Convenience fees typically range from $1.00 to $5.00, depending on the urgency of the payment.

Always call your neighborhood SSCE for hours and availability before heading over. Our staff of highly experienced employees will help you set up electronic bill payments and answer all of your questions!