Pre-authorisation payment
When you apply for finance with PayItMonthly, we ask your bank to confirm that the funds for your first instalment are available.
This is only a pre-authorisation. At this stage, your bank may temporarily hold the full amount, but we only take 1 penny to help us to verify your details before completing the credit check.
If your application is not successful, we immediately ask your bank to release the remaining funds. These should return to your account within 24 hours. The 1 penny we took will be refunded by us within 3 to 5 working days.
If the funds have not been returned after 24 hours, please contact us on 0333 212 2141 and we’ll be happy to help.
