.jpg)
What is PayPal Pay in 3?
PayPal Pay in 3 is an interest-free loan that lets you split your basket into 3 payments, with the first due at the 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 expensive.
Will I be able to use PayPal Pay in 3?
PayPal is offering Pay in 3 to a growing number of UK customers. PayPal Pay in 3 is not available for certain merchants and goods. PayPal may decide not to offer Pay in 3 as a payment option in certain circumstances, such as where their checks suggest an increased risk of fraud or where data they hold suggests you may not be eligible. The checks they run are with an external credit reference agency. This search will only be visible to you and will not affect your credit score. 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 they carry 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 apply for PayPal Pay in 3?
To apply for PayPal Pay in 3, you’ll need to provide your: Title, Phone Number, Address, Date of Birth, and Payment details.
How is my application for PayPal Pay in 3 assessed?
PayPal's decision-making process is automated. They 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. They may also run a “soft” credit check with an external credit reference agency when you apply if they need more information to make their decision. This search will only be visible to you and will not affect your credit score.
How can I pay with PayPal Pay in 3?
Just choose to pay with PayPal when you shop online, log into your PayPal account and, if it is an eligible transaction, you’ll see PayPal Pay in 3 as one of the available payment methods. After selecting it, you can apply for a PayPal Pay in 3 plan in a few simple steps, get an instant decision and finish checking out.
What purchase amounts qualify for PayPal Pay in 3?
You can use PayPal Pay in 3 for eligible shopping basket amounts between £30.00 to £2,000.00.
Where can I see how much I owe?
Just log into your PayPal account, go to PayPal Pay in 3, and click on the specific PayPal Pay in 3 plan you want to see. The amount you still owe will be under “Remaining”. PayPal will also 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.
Can I pay off the entire PayPal Pay in 3 plan at once or make extra/unscheduled payments?
Yes, just log into your PayPal account, choose the PayPal Pay in 3 plan you want to pay off, and click Make a Payment. Then you can make an unscheduled payment of Next Payment Due or Full Balance.
What happens if I can’t make my payments?
PayPal believes in responsible lending and will make efforts to support customers who are experiencing financial difficulty. If you know you will be unable to make a payment or are otherwise concerned about your finances, the best thing to do is to contact PayPal to discuss this in advance. Don’t wait until your payment is overdue. However, if you miss a repayment this may impact your ability to access other sources of credit or use Pay in 3 in the future. If a payment does become overdue, PayPal's collections team will work with you to find the best solution.
Can I pause or suspend my PayPal Pay in 3 payments?
Once you agree to the terms of your PayPal Pay in 3 plan and your payments begin, in most cases, you cannot pause, suspend, or skip your payments. The second and third payments will be taken automatically.
I don't want to continue my PayPal Pay in 3 plan. Can I withdraw from my contract?
If you withdraw from your Pay in 3 plan, you will have to repay PayPal any amounts outstanding under your plan. You have fourteen (14) calendar days to withdraw, starting from the day after you make your purchase with PayPal Pay in 3. You must inform us of your decision to withdraw by contacting us online at www.paypal.com/uk by selecting ‘Help’ and then ‘Contact us’.
Why did I receive an email regarding my PayPal Pay in 3 plan?
After you choose PayPal Pay in 3 and your application is approved, PayPal will send you an email providing you with the relevant information on your new PayPal Pay in 3 plan. This includes a link to the terms and conditions that you agreed to. Please also note that you can download your contract for your PayPal Pay in 3 plan directly from your PayPal account, if you go to ‘PayPal Pay in 3’ and click on the specific PayPal Pay in 3 plan.
Can I have multiple PayPal Pay in 3 plans at the same time?
Yes, you can. As long as you see the option for PayPal Pay in 3 at checkout, you can choose a new PayPal Pay in 3 plan. You’ll see all of your PayPal Pay in 3 plans in one place in your PayPal account under PayPal Pay in 3, including plans you completed in the past 12 months.
Can I apply for a refund?
Yes, you can still apply for a refund for your purchase when you use PayPal Pay in 3. If you return some or all of your items according to your legal statutory rights and/or our refund policy, you’ll get a partial or full refund. Partial refunds will lower the amount that you owe in the payments you have left. Any refund issued will be paid to your PayPal Balance, once PayPal have repaid any amounts owing under your Pay in 3 plan.
If you are concerned that your next repayment will be taken before we receive a refund, you can contact us online at www.paypal.com/uk by selecting ‘Help’ and then ‘Contact us’. This will allow us to either pause your next payment or stop your payments from being taken automatically.
Please find PayPal's full FAQs page here: https://www.paypal.com/uk/webapps/mpp/paypal-payin3/faq