Standard European Consumer Credit Information

1. Creditor’s name and contact details

Creditor AfterPay (under the company name Gothia Oy)
Business ID 1730113-3
Address Kaisaniemenkatu 13 A
00100 HELSINKI
Telephone number 020 7229 462
E-mail address asiakaspalvelu@afterpay.fi
Website www.afterpay.fi

2. Description of the main features of the credit product

The type of credit Goods-related consumer credit for payment in instalments of purchased goods and services. The credit is available in two forms; AfterPay Flex Payment, which is a running credit, and AfterPay Fixed Instalments, which is a lump-sum credit.
The total credit amount

This means the credit limit or the total sums made available under the credit agreement.
With AfterPay Flex Payment, the credit limit is 1,000 euro.

With AfterPay Fixed Instalments, the credit amount is equivalent to the price of the purchased goods or services and is normally between 50 euro and 1500 euro.
The conditions governing the drawdown

This means how and when you will obtain the money
The credit can be used for payment in instalments of goods and services purchased from merchants co-operating with AfterPay. The credit cannot in any way be withdrawn in the form of cash.
The duration of the credit agreement AfterPay Flex Payment:
The credit agreement is valid until further notice.

AfterPay Fixed Instalments:
The credit agreement is in force until the entire credit amount has been paid. The agreement period is 3, 6, 12, 24 or 36 months.
Instalments and the order in which they are allocated You will have to pay the following:

AfterPay Flex Payment:
Each month at least a minimum-to-pay amount, consisting of amortisation, credit interest and administration fee, shall be paid. The minimum amount to be paid is determined based on the total amount of the outstanding total balance of the credit, as specified in the following schedule:

Outstanding balance Minimum amount to pay
50 €–100 € 10 €
101 €–150 € 15 €
151 €–200 € 20 €
201 €–250 € 25 €
251 €–300 € 30 €
301 €–351 € 35 €
and so on  


AfterPay Fixed Instalments:
Payment of the credit amount, charged credit interest and administration fee shall be made in equal instalments during the agreed term of the credit agreement.
Example: With a credit of 1,000 euro and an agreement period of 12 months, the Customer shall pay 95.30 euro per month.
The total amount to pay

This means the amount of borrowed capital plus interest and possible costs related to your credit.
The total amount to pay depends on how you use the credit with regards to the amount of used credit and how much you pay each month.

Examples:
With a used credit of 1,000 euro which is repaid in 12 months in equal instalments each month, the total amount to pay is 1,143,55 euro, of which 143.55 are credit costs.

With a used credit of 1,500 euro which is repaid in 12 months in equal instalments each month, the total amount to pay is 1,697.92 euro, of which 197.92 euro are credit costs.

3. Credit costs

The credit interest rate The fixed annual credit interest rate is 19.5 %.
The credit interest is calculated daily and charged monthly.
Annual Percentage Rate of Charge (APR)
This is the total cost expressed as an annual percentage of the total amount of credit.

The APR is there to help you compare different offers.
With AfterPay Flex Payment, the APR for a credit with a credit limit of 1,000 euro, is 28.73 %. The calculation of the APR is based on the assumptions that that the entire amount of the agreed credit limit is immediately utilised, that the credit is fully repaid in 12 months and that payments are made in equal instalments which includes credit interest (19,5 %) and administration fee (2,90 euro / month).

For AfterPay Fixed Instalments the APR depends on the credit amount and the agreement period.

Example:
For a credit of 1,000 euro and an agreement period of 12 months the APR is 28.73 %, which includes the credit interest (19,5 %) and administration fee (2.90 euro / month).
Is it compulsory, in order to obtain the credit or to obtain it on the terms and conditions marketed, to take out an insurance policy securing the credit No
Another ancillary service contract

If the costs of these services are not known by the creditor they are not included in the APR.
No
Related costs  
Any other costs deriving from the credit agreement For AfterPay Flex Payment:
Administration fee: 2.90 euro / month, no start-up fee.

For AfterPay Fixed Instalments:
Agreement periods of 3 and 6 months: no administration fee, start-up fee: 5 euro.

Agreement periods of 12, 24 and 36 months: Administration fee: 2.90 euro / month, no start-up fee.
Conditions under which the abovementioned costs related to the credit agreement can be changed AfterPay has the right to amend the fees that are charged under the credit agreement if AfterPay’s costs are increased as a result of changes in legislation or another event outside AfterPay’s control. Such increase of the fees shall correspond to the actual increase in costs for AfterPay for the administration of the credit. AfterPay will notify about the increased fees at least two (2) months before the fee increase enters into force. If you do not accept the amendments, you are entitled to terminate the credit agreement. The termination is valid from the day the amendments should have entered into force.
Costs in the case of late payments
Missing payments could have severe consequences for you (e.g. forced sale) and make obtaining credit more difficult
In case of late payment, default interest is charged on the due amount for the time between the due date and the moment the payment is made, in accordance with the Interest Act.

The default interest shall be paid on the same grounds as prior to the due date (19,5 %) for 180 days from the date when the debt became due in full. If a court judgment concerning the debt is passed before the above-mentioned period of 180 days has elapsed, interest must be paid in accordance with the same grounds as prior to the due date until the court judgment is passed.

If AfterPay sends a payment reminder, a reminder fee of 5.00 euro per reminder will be charged. If the claim is transferred to debt collection, costs for debt collections measures might be charged.

4. Other important legal aspects

Right of withdrawal
You have the right to withdraw from the credit agreement within a period of 14 calendar days.
Yes
Early repayment
You have the right to repay the credit early at any time in full or partially.
Yes. You can repay the credit in advance at any time in whole or in part, without any additional costs.
Consultation of a database
The creditor must inform you immediately and without charge of the result of a consultation of a database, if a credit application is rejected on the basis of such a consultation. This does not apply if the provision of such information is prohibited by European Community law or is contrary to objectives of public policy or public security.
Yes. You will be informed free of charge, if your credit application has been declined on the basis of a consultation of a database.
Right to a draft credit agreement
You have the right, upon request, to obtain a copy of the draft credit agreement free of charge. This provision does not apply if the creditor is at the time of the request unwilling to proceed to the conclusion of the credit agreement with you.
Yes

5. Additional information regarding distance marketing of financial services

a) concerning the creditor  
Registration Gothia Oy is registered in the Finnish Trade Register under Business ID 1730113-3. AfterPay is an auxiliary business name to Gothia Oy.
The supervisory authorities The Regional State Administrative Agency (AVI) for the South of Finland.

The Finnish Competition and Consumer Authority and the Consumer Ombudsman.
b) concerning the credit agreement  
Exercise of the right of withdrawal You have the right to withdraw from the credit agreement by notifying AfterPay within 14 days entering into the credit agreement. If you do not exercise your right of withdrawal, the credit agreement will become legally binding. All withdrawal notifications must be in writing and sent by post or by e-mail to the address given in section 1. The withdrawal notification must be dated and signed, and it must contain at least your name and personal ID number as well as a customer number shown on an invoice.
  AfterPay reserves the right to charge credit interest for the time during which the credit was available as compensation for the withdrawal from the credit agreement. Credit interest is charged with 0.05 % per day until the credit has been repaid.
In addition, AfterPay reserves the right to charge you for a payment that AfterPay has made to the authorities following the conclusion of the credit agreement, if such payments are not refunded in the event of withdrawal. Repayment of the credit as well as payment of the above-mentioned compensation shall be done without delay and within 30 days of sending the withdrawal notification.
Clause stipulating the governing law applicable to the credit agreement and/or the competent court Finnish law applies to the credit agreement.
Any disputes arising from this credit agreement shall be settled at the district court with competent jurisdiction based on the domicile of the Customer. If the Customer is not domiciled in Finland, disputes will be settled at the Helsinki District Court.
Language regime Information and contractual terms will be supplied in Finnish.
Communication language during the contractual relationship is Finnish.
c) concerning redress  
Existence of and access to out-of-court complaint and redress mechanism You may bring disputes concerning a credit agreement before the Consumer Disputes Board.
  Consumer Disputes Board
PB 306, 00531 Helsinki
Tel.: 029 566 5200
E-mail: kril@oikeus.fi
https://www.kuluttajariita.fi/
  Before you bring a case before the Consumer Disputes Board you shall contact the local consumer guidance councillor (www.kuluttajaneuvonta.fi).