Pay Later

Which kind of transactions am I allowed to use Pay Later on?

Pay Later can be used on almost every transaction (incl. paymentservice, transfers and bills) between 200 DKK and 10.000 DKK.

There are some types of transactions like e.g betting, withdrawals, hotel-, boat- and car rentals which we won't let you Postpone or Split.

You can use Pay Later (either Split or Postpone) on max. 10 transactions at a time.

Which amount can Pay Later be used on?

You can Postpone or Split transactions between 200 DKK and 10.000 DKK.

You can use Pay Later (either Split or Postpone) on max. 10 transactions at a time.

How many different payments can I Postpone or Split?

It depends on your economy. If you're approved for Pay Later you will have between 3.000 DKK or 10.000 DKK at your disposal, which can be used to Postpone or Split payments.

You can use Pay Later (either Split or Postpone) on max. 10 transactions at a time.

How do I apply for Pay Later through Lunar?

You find Pay Later under products in the Lunar app. Afterwards you only have to follow the instructions.

How long can I wait before choosing to Postpone or Split a payment?

Postpone or Split can be used on a transaction for up to 30 days after you have made the payment.

Which informations do I have to give to apply for Pay Later?

By default you don't have to give us informations, but you have to approve with NemID for us to collect the relevant informations.

Can I regret Pay Later?

Yes, like all other creditproducts you have 14 days right of withdrawal. We do however, have to charge you for the costs, connected with the product in the time that you have had it.

When can I start using Pay Later?

If you meet the demands for Pay Later and are therefore approved, the money according to the amount you have postponed, will be at your disposal immediately after you have signed with NemID.

How do I know if I'll get approved for Pay Later?

You can apply for Pay Later, before you make a purchase you won't to use Pay Later on. If you get approved, this approval is valid for 30 days, where you can use Pay Later. Should you choose not to Postpone or Split a payment within the 30 days, you have to apply once more. This is because we need to make sure that Pay Later still fits your economy.

Can I prolong the duration of my Split?

When you've made the agreement about Split, you can't change it from e.g 3 months to 6 months. You can however, redeem the Split earlier - see more under (Can I redeem my agreement about Pay Later earlier?)

Can I use Pay Later without NemID?

No, it's a requirement in the application to use your NemID. So without the NemID, it's not possible to apply for Pay Later.

When do I have to pay for Pay Later?

Postpone

When you Postpone a payment, the total amount (original amount + interest) is payed after the current month + 1 month.
Example:
10th of Oktober 2020: Transaction is made in a store
16th of Oktober 2020: Transaction is Postponed
1st December 2020: Total payment is due

Split

If you Split the payment + interest is distributed evenly across the amount of months you have chosen to Split across. Have you chosen to Split over 3 months, a third is payed the first day in the following 3 months.
Example:

10th of Oktober 2020: Transaction is made in a store

12th of Oktober 2020: You choose to Split the tranaction over 3 months 

1st November 2020: You pay the first part (amount + interest)

1st December 2020: You pay the second part (amount + interest)

1st January 2021: You pay the third part and have now payed the full amount + interest

Can I get a deduction by Pay Later?

Yes, you can deduct the interest expense for Pay Later in your tax return. Which means you'll have to pay less in taxes.
Lunar will inform the amount to Skat automatically. So all you have to do, is to check if the amount is in your tax return.

Can I use Pay Later in the moment of payment?

No, at the moment it is not possible to use Pay Later in the moment of a payment. But after the payment is registered as an authorization (few moments later), it's possible to Postpone or Split the payment.

What is the difference between Postpone and Split?

When you Postpone a payment, the full amount (original amount + interest) is payed after current month + 1 month. Which means that the payment CAN'T be split in smaller pieces, but are only postponed.

Do you want to split a payment into smaller pieces, you should choose Split. Here you are able to Split the payment for 3, 6 or 12 months, where you pay an equal amount of the total amount each month.

Do I have to get my salary on the Lunar account?

No, you don't have to get your salary on the Lunar account.

What is APRC on Pay Later?

APRC on Pay Later is 22%

Why have I been rejected for Pay Later?

You have been rejected, because we at the moment can't accommodate you application for Pay Later. Should your economy change, you are more than welcome to apply once more.

Which requirements are there for using Pay Later?

Requirements to get approved for 3.000 DKK.

  • At least 3.000 DKK must be credited into your account for 2 months up to the application.
  • No RKI-registration

If you haven't used Lunar as your primary bank the past 2 months, you have the option to go through the applicationflow and answer a series of questions regarding your economy. So if you're new to Lunar, you have the change to apply for Pay Later.

Requirements to get approved for 10.000 DKK.

  • Available amount of 3.000 DKK on your account.
  • No RKI-registration
When will a receive a response for my application?

You'll receive a response immediately. The response can be found under "Pay Later", you can also see how many days you have left of the approval.

Can I cancel Pay Later?

You can always deposit or redeem your payment free of charge. We'll even tell you how much you have saved by doing so.

What is the cost of Pay Later?

When you request to Postpone or Split a payment, it will show how much it will cost to Postpone or Split a payment.

No hidden fees.

APRC is 22%.

Can I redeem Pay Later earlier?

You can always redeem your payment free of charge. We even tell you how much you can save by doing it.

Am I required to have my Easy Account at Lunar?

No, you are not required to have your Easy Account at Lunar.