How Newpay works
- Be 18 or over with a regular income
- Have no existing Newpay account
- Have a UK bank account and phone number
- Have been a UK resident for at least 12 months
Deko is a credit broker, not a lender. Deko’s secure technology helps make your Newpay application fast and simple. Deko is a trading name of Pay4Later Ltd, which is authorised and regulated by the Financial Conduct Authority (ref no 728646).
Deko may receive a small commission from NewDay for arranging your finance on their behalf. This will not influence the product, or any element of the cost of the finance you are offered. You are entitled to ask the amount of commission paid in relation to your application. If you’d like to find out, please contact Deko’s Client Services Team on 0800 294 5891, or firstname.lastname@example.org.
That depends on which payment plan you choose. There’s no minimum spend if you want to use the flexible credit payment plan. But for an instalment plan, there’s a minimum spend of £50, which includes the cost of any extra services you might need (e.g., installation, recycling, etc.).
Can I apply for Newpay?
Anyone can apply for Newpay, as long as you:
Are 18 years or over and have a regular income
Are a permanent UK resident and have lived in the UK for the last 12 months (unless you are HM Armed Forces Personnel)
Have a current UK bank account
Have a valid email address and mobile phone number
Don’t have an existing Newpay account
Of course, but just be aware that not everyone will be accepted for it. It’s worth remembering that NewDay will have to run a credit check as part of your application. So, your credit score will be taken into account when NewDay decide if you’ll be approved for Newpay.
- Yes, NewDay will always carry out a credit search. They run a no risk eligibility check first though, to tell you if they think you’ll be eligible for Newpay.
Can I pay a deposit?
No, there’s no need to make a deposit payment when you choose to pay with Newpay.
How do I make a payment?
A few days after creating your Newpay account, you’ll get an email from NewDay asking you to set up an Online Account Manager with them. Here, you can edit your details and view transactions. So, when you’re making a payment, just visit your NewPay Online Account Manager and follow the quick and easy steps.
NewDay starts charging interest when a transaction’s been made (including any applicable fees), until it’s been fully paid off. On an instalment plan, it’s from the date the plan is set up until it’s repaid in full.
You are not charged interest on purchases (not including those made on an instalment plan) made during your last statement period if you repay your outstanding balance by the due date and if you repaid the previous month’s outstanding balance on time.
NewDay charges interest on all fees, but not on default fees until at least the 29th day after they have told you about the default fee being charged. They work out interest daily and add it to your account on your monthly statement date.
What is a credit limit?
This is the maximum amount you may borrow on your Newpay account. The amount you’re offered is based on NewDay’s assessment of your application, which includes the information you gave us and the result of the credit check.
How do I change the details on my Newpay account?
Please visit your Newpay Online Account Manager to change the details on your Newpay account, and follow the instructions on there.
What should I do if I’m unhappy with how the process has gone?
If you’re unhappy with how we’ve dealt with your Newpay plan or application, and you wish to make a complaint, please contact NewDay as soon as possible and they’ll do their best to put things right. If you’re not happy with NewDay’s decision following a complaint and you wish to take it further, you can ask the Financial Ombudsman Service to review your complaint.
If you want to find out more about each payment plan, please visit your Online Account Manager, or feel free to browse through these pages.