Here’s how it all works
PayPal Pay in 3 is an interest-free loan that lets you split the cost of your order into 3 payments. The first is due at time of purchase with subsequent payments due every month on the same date. This lets you spread the cost and is a helpful tool to manage your budget more effectively. Please note, Pay in 3 is a form of credit, so carefully consider whether you can afford the repayments and the possible impact to your credit score.
If you choose PayPal Pay in 3 as your payment method when you check out, you’ll be taken through the application process. You’ll get a decision instantly, but not everyone will be approved based on our internal checks.
We may also decide not to offer PayPal Pay in 3 as a payment option in certain circumstances, such as where our checks suggest an increased risk of fraud or where data we hold suggests you may not be eligible.
Your plan will last two months in total. The first payment is due at the time of purchase, followed by two further payments due each month after that.
To apply for PayPal Pay in 3, you’ll need to provide your:
- Phone number
- Date of birth
- Debit card information
Our decision making process is automated. We 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.
If needed, PayPal will run a soft check with an external credit reference agency. This leaves no permanent mark on your credit record if you choose not to progress. However, if you decide to use Pay In 3, we will report your ongoing performance to credit and reference agencies as we believe this promotes responsible lending. So, it’s important that you’re able to keep up your repayments and that you’re comfortable that they’re affordable.
There are no fees for choosing to pay with PayPal Pay in 3.
Yes. You can still apply for a refund for your purchase. If you return all or some of your items, 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 we have repaid any amounts owing under your Pay in 3 plan.
You can withdraw funds from your PayPal Balance to either your bank account or debit card.
Every PayPal Pay in 3 transaction will appear in your PayPal activity feed as the full purchase amount under New Look as a ‘purchase’. This is to reflect the total purchase amount and is not reflective of the PayPal Pay in 3 instalment plan or any payments already made using you specific card. By using PayPal Pay in 3, PayPal pays the merchant upfront and spreads the cost to you over three payments. The first payment and subsequent two payments will each be reflected as separate transactions in your PayPal activity and represent the actual payments made towards your purchase.
When making a purchase with PayPal Pay in 3, we will place a pre-authorisation hold on your chosen card for an amount equal to the initial payment or one third of your total purchase amount. This will show as a pending authorisation in your PayPal account activity and in the bank account of the card linked to your PayPal account. Once you complete your purchase and New Look ships your goods, the pending authorisation will be removed and the initial payment will be taken from your card. If you do not complete your transaction, the pending authorisation will automatically be voided within 24 hours of the pre-authorisation hold.
If you didn’t successfully make a purchase using PayPal Pay in 3, PayPal will automatically void the pending authorisation within 24 hours of placing the pre-authorisation hold. Funds will not be taken from your card if the transaction was not completed.
There are a number of reasons we may not have been able to complete your scheduled payment. For example, if the debit card used to sign up to your Pay in 3 plan has expired or if there insufficient funds in your bank account.
If you need to change your debit card, you can do so by logging into your PayPal account, going to PayPal Pay in 3 and selecting the plan you want to change. There you can click “Change” under “Payment Method”.
To avoid any late fees, make your payment manually by logging into your account, or contacting PayPal for assistance.
Yes, just log into your PayPal account, choose the plan you want to pay off and click “Make a Payment”. You can choose to make an unscheduled payment of the “Next Payment Due” or “Full Balance”.
We believe in responsible lending and will make efforts to support customers who are experiencing financial difficulty. If you know you will be unable to make payment or are otherwise concerned, please contact PayPal to discuss this in advance. Don’t wait until your payment is overdue.
If payment is overdue, our collections team will work with you to find the best solution.
No. Once you agree to the terms of your PayPal Pay in 3 plan and payments begin, you cannot pause, suspend or skip payments. Second and third payments are taken automatically.
If you have concerns about your payments, please contact PayPal.