What is Buy Now Pay Later?
Buy Now Pay Later is an interest bearing option that allows you to delay payments on your
purchases for up to 12 months depending on how much you spend. The delayed payment
period starts from the date of order (including pre-ordered items and those not ready
for immediate dispatch).
You can choose;
Buy Now Pay Later for 9 months when you spend £50 or more (1 month = 28 days).
Buy Now Pay Later for 12 months when you spend £300 or more (12 calendar
The availability of BNPL spend thresholds is subject to offer.
How interest is calculated?
Interest is calculated daily from date of order, compounded every 28 days and added to
your account as a lump sum at the end of the delayed payment period. This means you will
pay interest on interest.
How can you avoid paying Buy Now Pay Later interest?
You can avoid all of the interest by paying the cash price before the end of the delayed
payment period, this can be done in one full payment or multiple partial payments.
Making partial payments without clearing the cash price in full will reduce the lump sum
of compound interest charged at the end of the delayed payment period.
For transactions before the 13th November 2019, if you only pay part of the BNPL
transaction balance you will be charged interest in line with the date that the payment
was made. This means that the earlier you pay on these transactions the less interest
you will be charged.
For transactions on or after the 13th November 2019, you will only be charged interest
on the outstanding balance at the end of the delayed payment period. Therefore, the
timing of the payment within the delayed payment period does not affect the amount of
To find the date the transaction was made, please reference your historic statement PDFs
contained within Transaction History.
If you choose not to pay the cash price before the end of the delayed payment period,
any outstanding balance plus a lump sum of compound interest will be charged to your
How do I make a Buy Now Pay Later payment?
To make a full or partial payment simply log into "My Account", choose "Make a Payment",
select "Pay Buy Now Pay Later" and allocate your payment to the specific Buy Now Pay
Later you wish to pay off. Alternatively, you can call us.
What happens after the delayed payment period?
If you have not paid the cash price in full or have only made a partial payment, a lump
sum of interest will be charged to your Very account. Any outstanding balance plus the
interest will now become payable on your account.
As the outstanding balance, plus the interest now form part of your payable balance they
will attract interest at your account rate, meaning you will pay interest on interest.
This will be included within your account minimum payment request every 28 days
and cannot be repaid using Take 3.
If you have paid the cash price in full before the end of the delayed payment period,
you will not pay any interest.
What is excluded from Buy Now Pay Later?
The costs for delivery, installation services and any warranty and insurance products cannot be placed on Buy Now Pay
Later. Buy Now Pay Later availability is subject to your credit and account status.
Do I still have to pay my minimum payment?
Yes, allocating payments to Buy Now Pay Later will not cover the minimum payment for your
Very account. If you have a non-Buy Now Pay Later balance on your Very account you will
still need to make at least your minimum payment as shown on your statement.