Interest-Free Installments by PayPal

How does Pay later in 3 work?

PayPal Pay in 3 is an interest-free loan that lets you split your basket into 3 payments, with the first due at time of purchase and subsequent payments due every month on the same date. It’s a great way to spread the cost of larger items or to cover emergencies, and is a helpful tool to manage your budget more effectively. Please note that Pay in 3 is a form of credit, so carefully consider whether you can afford the repayments and be aware of the possible impact of missing payments, including making other borrowing more difficult or more expensive.

Am I eligible for Pay later in 3?

If you choose PayPal Pay in 3 as your payment method when you check out with PayPal, you’ll be taken through the application process. You’ll get a decision instantly, but not everyone is approved based on the checks that are carried out.

How long Will My PayPal Pay in 3 Plan Last?

Your plan will last 2 months in total. The first payment will be due at the time of purchase, followed by 2 further payments due each month after that.

What Information Do I need to Provide?

To apply for PayPal Pay in 3, you’ll need to provide your:

• Title
• Phone number
• Address
• Date of birth
• Payment details

Will a credit search take place against me?

The decision making process is automated. PayPal assess your financial position using a combination of the information you provided within your application, and information about your usage and history with PayPal to decide whether PayPal Pay in 3 is suitable for you at this time. PayPal may also run a “soft” credit check with an external credit reference agency when you apply if they need more information to make our decision. This search will only be visible to you and will not affect your credit score.

When Will Payments be Charged?

Your first payment will be charged at the time you make the purchase. After that, your 2nd and 3rd payments will be charged in the two subsequent months, on the same day of each month. For example, if you make a purchase on 5th May, your 2nd and 3rd payments will be due on 5th June and 5th July.

If a payment is due on a date which doesn’t exist in a month, such as the 31st February, then payment will be taken on the last day of that month.

PayPal will send you a reminder by email or SMS 10 days before your payment is due detailing the amount of your payment, the payment due date and the funding instrument the payment will be taken from. You can see your payment schedule or make unscheduled payments at any time by logging into your PayPal account.

For full details please check PayPal’s T&C’s here – PayPal Pay in 3 Terms and Conditions

PayPal Pay Later may also be available depending on your PayPal Account.

Please check with your PayPal account for further details.