Find out more about Klarna - Reactive Parts Finance Partner, here!

 

Who is Klarna?

Klarna is a Swedish payment service provider that takes end-to-end responsibility for your payment. Klarna is the provider of smooth payments to more than 200,000 online stores. Over 85 million consumers worldwide have trusted Klarna to securely handle their payments. Klarna lets you spread the cost of your purchase into equal monthly payments with interest. Financing is a promotional plan on the Klarna Account.

 

Pay later in the 3 interest-free instalments

How does Pay later in 3 interest-free instalments work?

Pay later in 3 interest-free instalments lets you spread the cost of your purchase over 3 equal payments. The payment for each instalment will automatically be collected from the debit or credit card you entered at checkout. Your first instalment will be collected when your order is confirmed, and instalments 2 and 3 are scheduled 30 and 60 days later, respectively. You can always monitor your payments’ schedule in the Klarna app


Am I eligible for Pay later in 3 interest-free instalments?

You must be at least 18, and although this option is widely promoted, Pay later in 3 interest-free instalments is subject to your financial circumstances, order value, previous order history and item availability. All orders are assessed individually. Just because you have been accepted for a Klarna payment method before does not mean it will be offered for every order and in turn, as it is denied does not mean it will be denied for all future orders. Klarna's assessment will not affect your credit rating.


What happens if I cancel or return my order?

You can return any unused items to us using our normal returns procedure within 14 days of receiving the goods. As soon as Reactive Parts has accepted your cancellation/return, Klarna will cancel any future scheduled payments as well as refund any amounts due. The refund will be processed within 5-7 business days and will be reflected in the Klarna app immediately. Refunds shall be issued back to the debit or credit card which was originally entered at checkout. An updated statement with an adjusted payment schedule will be sent to you by Klarna if you've made a partial return.


How to pay for the order

Klarna will automatically take payments from the card you entered at checkout. If you would like to pay the balance off early, you can do this by using the Klarna app or log in to your Klarna account

For full information:

Visit the Klarna app or Klarna’s Customer Service page for a full list of FAQ’s, live chat and telephone options

 

Pay later in 30 days

How does Pay later in 30 days work?

Once your order is confirmed, you'll receive an email with payment instructions within two days from Klarna. You'll then have 30 days to change your mind and only pay when you’re happy. Complete the payment online by logging into your Klarna account


Am I eligible for Pay later in 30 days?

To use Pay later in 30 days you must be at least 18. Whilst this option is widely promoted, Pay later in 30 days is subject to your financial circumstances and operates based on algorithms that are dependent upon a number of factors including amount of order, the online store, previous order history and item availability. Alternatively, you are able to complete your order by credit or debit card at the checkout. When choosing Pay later in 30 days, our assessment will not affect your credit rating.


How and when to pay.

Payment is due 30 days after the item is shipped through your account on the Klarna app or website. To help you pay on time, Klarna will alert you two days before payment is due – you'll receive a push notification from the Klarna app or email reminders to pay. If very late you might get a text or letter, too. Your credit score will not be impacted by using Klarna’s ‘Pay later in 30 days’ products even if you have failed to pay on time. If you wish to pay before the due date, that is fine too. Just follow the instructions on this email or in the Klarna app to pay for your order.


What happens if I cancel or return my order?

You can return any unused items to us using our normal returns procedure within 14 days of receiving the goods. As soon as Reactive Parts has accepted your cancellation/return, Klarna will cancel the statement or refund your payment. Your refund will be processed within 5 business days and be credited to the card you paid with. The return will be reflected in the Klarna app immediately. If you have made a partial return, an updated statement will be sent to you by Klarna. With a full return, your statement will be closed. You can monitor the status of your order in the Klarna app.

For full information:

Visit the Klarna app or Klarna’s Customer Service page for a full list of FAQ’s, live chat and telephone options

 

Financing

How do I use Financing?

When you shop online, Klarna’s system reviews each order to determine which payment options are available to you. If Financing is offered, simply select this option. The first time you shop with Financing you will be asked to apply for a Klarna Account. If you’re approved Klarna will create an account for you and your order will be placed. Every time you shop with Financing after that, you only need to agree to the purchase and won’t need to sign up again. The order amount will be added to your Klarna Account as additional promotional plans. You can always monitor the payments due in the Klarna app. 
Please note: Klarna assesses all orders individually. Just because you have had Pay later before does not mean it will be offered for every order and in turn, as it is denied does not mean it will be denied for all future orders.


How do I make a payment?

If you chose to use Financing, Klarna will send your monthly statement notification via email with instructions on how to make a payment and an overview of your Klarna Account. In short, on your Klarna Account Overview page, simply select ‘Make a payment’ and enter the amount you wish to pay towards your balance. 


Can I pay less than the amount owed each month?

You can choose to pay your minimum payment instead of your interest-saver payment (the amount to be paid to avoid incurring late fees on your Klarna Account) at any time. Should you choose to pay your minimum payment instead of your interest-saver payment this will mean you will lose your promotional plan offer and the remaining balance will start to incur interest at 18.9% APR (variable).


Can I pay more than the amount owed each month?

You have the right under section 94 of the Consumer Credit Act 1974 to repay early in full or in part at any point. If you wish to pay any amount early you must give notice to the credit provider, Ratesetter. Unless you repay in full, any early repayment you make will not reduce the duration of the agreement but, if you give them notice of your intention to pay an amount early, they will recalculate the amount of the remaining monthly instalments.


Is a deposit required?

Yes, a 10% deposit is payable by credit or debit card upon acceptance for orders between £280 - £450.  20%, 30%, 40% & 50% is also available on orders over £450.

Returns and Cancellations

You can return any unused items to us using our normal returns procedure within 14 days of receiving the goods. At this point we can cancel your credit application and your deposit will be refunded back to the card used within 5 working days. Please note that we cannot accept part order returns when purchased with finance as we can only cancel the entire agreement and not part of it. Your agreement can only be cancelled up to 14 days after the goods are received, so please allow time for us to receive the goods back and cancel the agreement within the time frame.

As soon as Reactive Parts has registered your cancellation or return, the refund will be processed within 5 business days. Klarna will make any necessary adjustments to your balance and provide further help if needed. If you have paid for your order with a card, the refund will be made back to your Klarna Account balance. If the Account ends up in a credit balance, this can be used towards future purchases or you can request it to be paid back by contacting Klarna's Customer Service.


For full information:

Visit the Klarna app or Klarna’s Customer Service page for a full list of FAQ’s, live chat and telephone options

 

 

Reactive Engineering Ltd are authorised and regulated by the Financial Conduct Authority, register number 745276.

Our finance provider is Klarna Bank. Our finance provider is regulated by the Financial Conduct Authority. For more information on Klarna Bank, you can visit their website at https://www.klarna.com/uk/

Klarna Headquarters: Stockholm, Sweden. All rights reserved. Klarna Bank AB (publ). Sveavägen 46, 111 34 Stockholm. Organization number: 556737-0431