In-Store Purchase FAQs
Q: What does PayBright charge?
A: That depends on your credit profile and the term of the loan. It starts as low as 7.95% with a $6.95 monthly processing fee but can range up to 19.95% based on the loan amount, term of the loan and your unique credit profile.
Q: How does the monthly payment amount vary?
A: Estimates may not include taxes and/or other charges. The standard processing fee of $6.95 can vary by province and your credit profile will impact your interest rate. All this will change your monthly payment. For an actual monthly payment please complete the credit application.
Q: Will my payment plan terms be adjusted to reflect the actual purchase amount?
A: When you apply for a PayBright loan, PayBright shows you the expected installment payment amount and other payment plan terms based on the purchase amount you enter. If the final purchase amount varies from the original amount entered, your installment payment amount and other payment plan terms will be adjusted automatically. PayBright will email you a copy confirming your final installment amount and all the details of your payment plan.
Q: How do I make my monthly payments?
A: PayBright will help you set up convenient, pre-authorized payments via your bank account.
Q: Can I prepay my outstanding PayBright balance?
A: Yes, all PayBright payment plans can be prepaid at any time without penalty.
Q: I was not able to complete a PayBright transaction. What happened?
A: Unfortunately, PayBright is not able to provide payment plans to every applicant. This could be due to the information on your credit file, or because PayBright was not able to verify your identity or your payment method. For further information, please contact PayBright .
Q: How do I access my PayBright account?
Q: How do returns work if I paid using PayBright?
Purchases made using PayBright financing are subject to The Bike Shop's standard return policy . Any returns will be processed by The Bike Shop, and your PayBright loan balance will be reduced or cancelled accordingly. If you have already made monthly payments, those will be refunded to you by PayBright.