PayPal Pay in 3

What is PayPal Pay in 3?
PayPal Pay in 3 is an interest-free loan for purchases between £30 - £2,000. It 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 possible impact to your credit score.

Will I be able to use PayPal Pay in 3?
PayPal is offering PayPal Pay in 3 to a growing number of our UK customers. PayPal may decide not to offer PayPal 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.

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.

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 will be approved based on PayPal's internal checks.

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
  • Debit card information

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.

Will applying for PayPal Pay in 3 impact my credit file?
If needed, PayPal will run a soft credit check with an external credit reference agency. This leaves no permanent mark on a customer’s credit record if they choose not to progress. However, if a customer decides to use Pay in 3, they will report their ongoing performance to credit reference agencies as they 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.

Are there any fees associated with PayPal Pay in 3?
There are no fees for choosing to pay with PayPal Pay in 3.

You can read more about PayPal Pay in 3 here.


PayPal Credit

What is PayPal Credit?
Simply spend over £99 and you get 0% interest for 4 months on that purchase. You can use this offer again and again on every purchase over £99. PayPal Credit is the perfect way to spread the cost of those larger purchases.

How do I apply?
Applying for PayPal Credit is easy. Simply complete PayPal's short application form here and if approved and once you accept the Credit Agreement, you’ll have a credit limit linked to your PayPal account almost straight away.

How long does it take to apply for/receive PayPal Credit?
The application form takes minutes to complete. PayPal will then run a credit check and if approved, you’ll have a credit limit linked to your PayPal account as soon as you accept your credit agreement.

How much will my credit line be?
To determine the size of your credit line PayPal will use the information you provide in the application form along with internal PayPal data and an external credit check.

I have a business account. How can I sign up for PayPal Credit?
You can contact PayPal Customer Services to change your business account to a personal account to apply for PayPal Credit. Alternatively, you can create a new personal account to apply.

What if I don’t have a PayPal account?
The first stage of the PayPal Credit application process will ask you to sign into your PayPal account or offer you the opportunity to sign up for one. Once you’ve signed up for a PayPal account, you can begin the application for PayPal Credit. Signing up for a PayPal account is free and easy; all you need to do is provide your email address, create a password and accept our User Agreement.

* The minimum payment due still applies to 0% offer balances. Any remaining balance due after the 4-month promotional period or any transactions under £99.00 will be charged interest at 21.9% p.a. (variable). In order to maintain the 0% offer, you need to keep up monthly repayments and stay within your credit limit. Credit subject to status. Terms and conditions apply. UK residents only. 

You can read more about PayPal Credit here.