If there’s a problem with the item you ordered (or you don’t receive it), you can let PayPal know within 60 days and it may refund your purchase price and shipping costs. PayPal offers purchase protection on eligible transactions that you make with PayPal Pay in 4. Finally, you must pass PayPal’s soft credit check or your application for Pay in 4 could be denied. You also must be at least 18 years old and live in an eligible state. To be eligible for PayPal Pay in 4, you must purchase an eligible item that costs between $30 and $1,500 from a participating online merchant that accepts PayPal. That said, you could rack up fees from your bank if you overdraw on your account or interest from your credit card company if you don’t pay off your charges within the month. There are also no penalties for paying off the purchase early. While this service is a point-of-sale installment loan, it does not charge interest, origination fees or late fees. There are no costs associated with PayPal Pay in 4. If you’re approved, you’ll need to sign a loan agreement that outlines the details of this point-of-sale service. PayPal will run a soft credit check at the time, but this won’t impact your credit score. You can select PayPal Pay in 4 at checkout and receive an instant decision about your approval. You must hold a PayPal account and link up an accepted payment method, such as a bank account, credit card or debit card. Note that PayPal Pay in 4 is only available on certain goods at select merchants where PayPal is accepted. PayPal Pay in 4 does not charge any interest, origination fees, late fees or other fees. You’d pay $100 at checkout, and then three additional payments of $100 in two-week intervals. You’ll make the first payment upfront and pay the remaining ones every two weeks for a total repayment period of six weeks.įor example, let’s say you were buying an item for $400. PayPal Pay in 4 lets you split up payments on your purchases at eligible online retailers into four equal payments.
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