INTEREST FREE CREDIT PAYMENT OPTIONS

 

PAYPAL PAY IN 3 TERMS AND CONDITIONS

HOW DO I APPLY?

  1. 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 possible impact to your credit score.
  2. PayPal Pay in 3 is only available on selected watches from £65 to £2,000.
  3. To pay with PayPal Pay in 3, simply select the item you wish to purchase and proceed through the checkout by selecting Pay in 3.
  4. The decision-making process in PayPal 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.
  5. If PayPal refuses to authorise payment or we do not at our complete discretion find our anti-fraud checks to be satisfactory, we will not accept your order.
  6. For the full PayPal Pay in 3 Terms and Conditions please click here.

PAYPAL PAY IN 3 FAQs

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.

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.

Can I use PayPal Pay in 3 if I have PayPal Credit?

Yes, PayPal Pay in 3 is a separate feature from PayPal Credit. Purchases made using PayPal Pay in 3 will be visible in the PayPal Pay in 3 section of your PayPal Wallet.

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?

Not at the moment. We report the ongoing performance of our Pay in 3 customers to our credit reference agencies, as we believe this promotes responsible lending. However, the UK’s main credit reference agencies are currently unable to fully consume Buy Now Pay Later data. We are working closely with the industry to address this matter.  Currently, Pay in 3 does not impact your credit score although using Pay in 3 may impact your ability to obtain credit and the cost of accessing it. More information is available in Pay in 3 Terms & Conditions.

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?

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.

Can I make extra or 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.

When can I find more information about PayPal Pay in 3?

For more information about PayPal Pay in 3 please visit their FAQ page found here.

HOW DO I APPLY?

  1. Interest Free Credit with V12 is only available on selected Seiko watches from £800 to £5,400. Watches that can be purchased with V12 are marked with a V12 logo on their product page.
  2. To apply for Interest Free Credit, simply select the item you wish to purchase and proceed through the checkout to the payment step.
  3. Select “V12 Finance” and choose from one of the available plans. We offer financing over 6 or 12 months. You will be able to select the payment terms applicable in the checkout.
  4. You can increase your deposit amount above the minimum 10% of the spend if you wish to make your monthly payments lower.
  5. From the checkout page you will be taken to the application form for your Interest Free Credit plan.
  6. If your application is approved, you will be asked for your credit card details to place the deposit for your order.
  7. V12 Finance will process your application and once accepted, we will receive a notification. We will ONLY despatch your order once we have received a notification that your application has been successful, your documents were signed, and your deposit was paid. If your purchase was a pre-order, we will ship your item as soon as it becomes available.

THINGS TO BE AWARE OF

All Interest Free Credit orders must be delivered to your billing address or collected from our Grand Seiko Knightsbridge boutique. Your billing address entered at checkout should be the same as the address your credit card is registered to, and the address V12 Finance will review your application against.

MINIMUM ORDER VALUE

To apply for V12 Finance, your order must reach a minimum threshold in value. Please see the table below for more information.

TERM MINIMUM SPEND MINIMUM DEPOSIT
6 MONTHS £800 10%
12 MONTHS £800 10%

Please note that V12 Finance is only available on individual items in your basket and not the entire basket value.

DECLINED APPLICATIONS

If your credit application is declined, you will receive notification via email from our Interest Free Credit partner – V12 Finance, with further instruction on how to dispute the decision with V12 directly.

V12 FINANCE FAQ

Once My Finance Application Is Approved, What Happens Next?

Within minutes of your application being approved, you will be presented with the option to sign your credit agreement. If you are offered the ability to e-sign your credit agreement and choose to do so, a PDF of your credit agreement will be displayed on screen. You should read the credit agreement carefully before clicking all the relevant sections agreeing to its terms. Once you have agreed to the terms of the credit agreement seikoboutique.co.uk will be notified. If you are presented with the ability to print and return your credit agreement you should print the PDF agreement, read it carefully and then sign the document following the instructions on the covering letter. This signed document should then be posted to the address shown on the covering letter of the credit agreement.

After your application is accepted by V12 Finance we will receive a notification and will ship your order if your item is in stock. If your purchase was a pre-order, we will ship your item as soon as it becomes available.

Will V12 Credit Score Me And If So, What Does This Mean?

Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as age, income and occupation, together with information obtained from credit reference agencies. This information allows us to produce consistent decisions, ensuring all our applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.

If V12 Decline My Application, What Is The Reason?

In addition to credit scoring, V12 Finance also take into account the confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though we are unable to provide you with a main reason why your application was declined, it is usually based on one, or a combination of the following:

  • Your credit score (note that every finance company will score you differently)
  • Adverse credit reference agency information
  • You are considered to be overcommitted
  • You are aged under 18
  • Your existing account performance with other lenders

What Type Of Information Do Credit Reference Agencies Hold About Me?

Some of the information is public information, for example electoral roll, County Court Judgements and bankruptcies. Other lenders may also file information about accounts you hold with them for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.

If My Finance Application Is Not Successful, Can I Re-Apply?

Yes. We acknowledge that your circumstances change and just because V12 refused a previous application, it does not mean that they will automatically turn down a further request. We do suggest however, that you leave at least 6 months between applications.

Who Is Eligible To Apply For Online Finance?

To apply for finance, you must be over the age of 18, work at least 16 hours a week, or be retired with an income. You must also be a resident of the UK and have lived in the UK for the last 36 months or more. Unfortunately, we are unable to offer online finance to residents of Eire.

Can I Request Delivery To An Address Other Than My Home?

To safeguard against fraudulent applications, we regret that we’re only able to deliver goods to the home address of the applicant. Alternatively, you can choose to collect your order from our Grand Seiko boutique.

Can I purchase multiple watches at the same time with Interest Free Credit?

Items need to be purchased individually with V12 Finance, so that the payment plan can be applied to each item separately.

Will My Item Be Reserved Until My Finance Application Has Been Processed?

Yes, your item will be reserved for you until a decision has been made by V12 finance on your application.