What consequences for late Pay Later repayment can be expected?
If your scheduled repayment fails:
- Pay Later functionality in Revolut app will be locked for further purchases.
- Check the Pay Later management screen for the amount due.
- We'll continue attempts to charge your EUR account.
- We'll be continuously notifying you of the missed payment.
- Repayments on upcoming instalments will be on hold until you cover the missed payments on all your plans.
You have time until the end of the repayment date to settle your payment. After this period, we may take further actions on your Pay Later account, which might include:
- We reserve the right to offset. This means that, at any time and without prior notice, we can use any amount you owe us, including overdue repayments, to offset against any amount we owe you. This could include a refunded amount from another transaction.
- Late interest will be charged on the overdue principal after the grace period has expired. Tap here for more details.
- The balance owing may be referred to a debt collection agency. We reserve our right to refer your late payment to our debt collectors in the event of continued failed attempts to debit your card.
If you're facing repayment challenges, please reach out to us via in-app chat. You may also contact us via the email collections-ie@revolut.com. We'll assess your situation to find the best solution for you.