PayPal Pay in 4 is the way to purchase a product instantly, but without paying the full amount upfront. As its name indicates, it is an alternative for PayPal users to pay for the product or service in 4 parts.
It works as a short-term credit in which the payment is made in installments in a determined term divided into 4 parts. It has been an option available since late 2020 and continues to have the same popularity as the first day.
Procedure to apply for PayPal pay in 4 refund
It is an alternative available in many US states and Australia. Many retailers have joined and accepted the alternative to acquire their benefits. Some popular ones are Bose, Best Buy, Sonos, and Target.
The requirements to acquire this benefit are that the applicant must be at least 18 years old and have an active PayPal account. The process is simple; to start, you must enter the retailer where you will purchase the products.
After making the selection and confirming that everything is in the cart, it is time to go to “pay” and select “PayPal pay later” as the payment method. To complete the request, you will be redirected to the PayPal page to log in with the applicant’s account, and it is necessary to select “Pay in 4”.
The box will appear as a payment option on the platform. After selecting it, click “continue,” and the payment plan will appear. The amount of each installment and the date on which the payment must be made will be indicated.
If everything is correct and you agree, it is time to select “continue” to confirm the personal data as well as the request. The order will be placed, and the requested credit will begin to run.
Are there any additional fees for the service?
No, this is one of the great advantages of “Pay in 4”. The earnings from the program are made through a small transaction fee charged to the retailer. There are no additional fees for account owners who can purchase the loan interest-free.
There are no extra fees for setup either. Just be vigilant and pay the installments on time to avoid problems. Payments are automatically taken from the credit card, debit card, or bank account with which the application was made.
There are no problems with the credit score because Pay in 4 does a soft credit check. That is, it does not appear in history and, therefore, does not affect the score.
Frequency of payments
The ongoing issue is the frequency with which you must complete the payments. The remaining three payments after application are made every two weeks, a useful alternative for those who have jobs where they are paid every two weeks.
The loan is then divided into six weeks, and the exact dates and amounts are detailed at the time of application. However, you can make additional or unscheduled payments if you want to finish paying earlier.
It is also an option to log into the PayPal account and make the full payment of the item after receiving it and being satisfied with the purchase. On the other hand, to obtain this loan, purchases must be a minimum of $30 and cannot exceed $1500.
Can I get a refund?
It often happens that after purchasing an item, when it arrives at your home, it does not turn out to be what you expected, and you choose to return it. With PayPal, it is possible to make a refund using PayPal in 4.
You must log in with your PayPal account and go to the “activity” tab at the top. You can find all the payments made and locate the amount to be refunded by clicking on the payer’s name.
Now click on “Refund this payment” the option is just below the total amount. If it is not a full refund, you can type in the amount to be refunded in the box provided and add a note of the reasons for the refund. The latter is optional.
Now click on “issue refund” at the bottom of the screen. Now all you have to do is wait for the appropriate verifications to be made, and they will refund the money within the time frame indicated in the request.