When you finance an invoice with Qonto’s Pay later feature, your repayments are automatically scheduled in 3 installments: +30 days, +60 days and +90 days, 6 installments: + 120 days, + 150 days, + 180 days, or 9 installments: + 210 days, 240 days, 270 days.

An effective monthly interest rate of 1.16% applies to the financed amount (15% APR). Due to rounding, the amount of your last installment may be slightly higher.

How and when will installments be debited from my account?

At each due date, your repayment amount will be directly debited from your main Qonto account. You must therefore ensure that you always have the necessary funds to meet your repayments.

You can make an early repayment of a single instalment before its due date, settle an overdue payment, or pay off the total financing amount to close it early.

Simply go log in to your web app and go to Pay Later > Financing (from the mobile app, go to Menu > Pay later > Check repayments) select the financing you wish to repay, and click the Pay Now button in the sidebar.

You have two repayment options:

1. Single installment repayment - pay one installment (next due or overdue). This won't affect future payments or trigger recalculations.
2. Full financing repayment - pay the entire amount with prorated interest, calculated only for days the financing was active, resulting in savings.

What are the repayment conditions with the Pay later feature?

When financing purchases with Pay later, a few conditions apply:

• Once your transfer has been settled, it cannot be modified or cancelled. This is why we ask you to always check the details of your transfer before confirming.

• You must adhere to these planned installments, making sure there are enough funds in your account to honor your repayments, scheduled at +30 days, +60 days and +90 days for 3 months installments, up to 180 days for 6 months installments and up to 270 days for 9 months installments.

What do the statuses displayed on your Pay later cockpit mean?

Different statuses can be displayed on your Pay later cockpit (Financing > Pay later). These statuses concern the state of your credit (it can be active, blocked, on hold) and the state of your repayment (it can be At risk or Overdue).

Installment status:

• At risk: Your next installment is planned in three days and you don’t have the necessary funds on your main account balance. If you find yourself in this situation, please ensure to top up your main account with the necessary funds.

• Overdue: The required installment amount was not available in your main account balance and could not be debited. Please ensure to top up your main account with required installment amount as soon as possible and initiate the repayment (in your web or mobile app by selecting the financing and clicking the Pay Now button in the sidebar) to regularize the situation and unlock your account.

  ⚠️ Important: If you have one or more late installments, your credit status will automatically move to Blocked.

Available credit:

• Blocked: Due to the late repayment of your installment, your access to the feature has been disabled, and your credit limit closed. Consequently, you are no longer eligible for Pay later.

  ⚠️ Important: If your credit status is Blocked, the usage of your Qonto account will also be restricted: credit card payments, direct debits, and transfers will be declined until the required amount is repaid.

  👉 Please ensure to top up your main account with the necessary installment amount to resolve this issue. Initiate the repayment by selecting the financing in your web or mobile app and clicking the Pay Now button in the sidebar to restore normal account usage.

What happens in case of late repayment?

It is important that you keep enough funds in your account to pay monthly installments on time. Three days before each installment, we will email you the details about the next installment along with the repayment schedule.

In case an installment is late, your account will be immediately affected:

• You will lose your eligibility to Pay later feature, and therefore your credit limit will be back to €0

• You will no longer be able to make any debit with your account** (including card payments, transfers and direct debits) from the day after the missed installment, until Qonto recovers the installment amount plus late repayment daily fees

• Starting from 10:00 PM Paris time on the scheduled payment day, Qonto will apply a late repayment daily fee of 0.04% calculated on the installment capital. Note: if you repay the amount manually before 10:00PM, you will not have late repayment fees.

Every twice a day (latest of 5PM), Qonto will try to debit your account to recover the total amount of installments plus daily fees.

It is not possible to partially repay those amounts. Qonto will only debit your account once there are enough funds to pay both amounts.

If you have a late payment on an installment, please ensure to top up your main account with the necessary funds and initiate the repayment. Go to **Financing > Pay later** in your web or mobile app, select the financing, and click the **Pay Now** button in the sidebar. You'll be presented with two options, for which the respective amounts will be displayed:

1. Pay a single installment
2. Pay the full financing amount (with recalculated interest based only on days used).

Note that if you are more than five days late on an installment, you will lose access to the Pay Later feature for future purchases. Once eligibility is lost due to a delay of more than five days, it cannot be restored, even if the installment is later paid.

👉 Make sure to always credit your main account with sufficient funds.

If the payment is not regularized within the next 8 days, you will be required to pay all outstanding or upcoming installments within 15 days.

💡 Note: You cannot close your account while Pay Later installments are scheduled. To close your account, you must first pay off the total financing amount.