The Volunteer Energy Cooperative PayMyWay program is a prepaid electric service option that helps you avoid security deposits, credit checks, late fees, and reconnection fees. You can schedule your payments at times that meet the needs of your household budget.
In a nut shell …
Once you establish a PayMyWay account with a credit balance, your home’s energy use is recorded and charged daily to the account. The credit balance is reduced by the amount charged until either the balance is exhausted or additional payments are made to the account.
With PayMyWay, customers schedule payments that are convenient for them. Payments may be made with cash, credit cards, or checks via phone, by logging into your SmartHub account through our website, or in person at any VEC Customer Service Center. Once an initial credit balance has been established, you make minimum payments of $40 at any time.
As a PayMyWay participant, you will not receive monthly statements. However, you can view your account balance information 24 hours a day through the VEC website (www.vec.org), by calling your local office, or by visiting any VEC Customer Service Center. When your PayMyWay balance is low, you will receive a courtesy notification via an automated phone call and email. If your account is disconnected, the cost to reconnect service is $40 or an amount necessary to re-establish a credit balance on the account.
PayMyWay participants pay the same energy rates and customer charges as other residential customers. PayMyWay customers pay an additional fee of $8 per month to cover the added costs of providing this service.
PayMyWay includes a debt recovery mechanism that makes it easy to budget the payment of past due balances. Thirty percent (30%) of each PayMyWay payment will be automatically applied to any existing debt until the debt is satisfied.
Enrollment in VEC’s PayMyWay program is easy. Complete an enrollment form for the service and submit it in person to your local VEC Customer Service Center. A $100 initial payment to the PayMyWay account is required for enrollment. If you have an existing deposit on your account, that deposit amount will be applied to the PayMyWay account balance. Note: The PayMyWay enrollment form may be printed from the link above or here. But enrollment in the program requires a in-office visit.
The small print …
PayMyWay is not available to commercial or industrial accounts or to residential accounts with metering restrictions. Be sure to read and understand the PayMyWay program requirements and restrictions included on the enrollment form before you sign up.