Now that Christmas is approaching and the Three Wise Men are just around the corner, we want to discuss paying in 4 Amazon installments. This financing method will allow you to buy now and pay later for all your purchases in the online store.
WHAT IS AMAZON PAY IN 4 INSTALLMENTS
Pay in 4 Amazon installments is an agreement through which Amazon and Cofidis join forces to allow you to finance without interest for up to three months (90 days) all your purchases between 75 and 1,000 euros. Although this financing method does not have interest, the client is charged an opening commission of 2.50% of the capital requested, or what is the same as the total amount of the purchase.
For example, if you buy the new Poco M4 Pro for €250 and finance it with Amazon pay in 4 installments, the opening commission would amount to €6.25. This commission is added to the amount to be financed, and the four installments to be paid are calculated. In this example, four installments of €64.06 each would be paid. You must meet the following requirements to finance your purchases with this system: be a Spanish resident of Spain and have a Spanish DNI or NIE.
HOW TO FINANCE YOUR PURCHASES ON AMAZON
You can finance the purchase once you have all the items you want to buy in the cart and the sum exceeds €75. What how? It is very easy, but you have to go step by step. The first thing to do is to process the order and start the payment process. After indicating the address and delivery options, choose the “financing” payment method with the “Pay in 4” option. This is under the debit or credit cards you added on Amazon.
Once this payment method has been chosen, you will be redirected to a Cofidis form that you will have to fill out with your data, attach a copy of both the front and back of your DNI or NIE and add the bank card with which you want them to be made. Installment charges.
For financing, Cofidis accepts any credit, debit, and/or prepaid cards, such as those issued by Visa and Mastercard, among others, except American Express and foreign and virtual cards.
After this, the financier will assess your request and give you an immediate response. This is: accept or reject the financing. If you accept it, you will be redirected to your bank’s payment gateway to confirm the purchase and pay the first installment.
Speaking of fees, this is how the payment schedule will look like :
- You will be charged the first installment after the shipment of the last item in your order.
- The second installment will be sent to you 32 days after the shipment of the last article.
- The third installment is 63 days after the shipment of the last article.
- And finally, the fourth, 90 days after the shipment of the last article.
In this way, in 90 days, you will have paid the entire purchase in full.
HAVE YOU BEEN TURNED DOWN FOR FINANCING? THIS IS WHAT YOU CAN DO:
Suppose Cofidis refuses to accept the financing because you do not meet its requirements. In that case, you must pay for your order using another payment method that Amazon accepts, including Visa, Visa Electron 4B, Euro 6000, MasterCard, American Express, Maestro International, or SEPA bank account. If you have doubts about financing, we recommend you contact the financial company directly. Amazon here neither clicks nor cuts.
Great care! Some users who Amazon has denied financing have had the amount of the first amount withheld. According to Cofidis, the reason is to verify that the card is viable, effective, and works correctly. The solution offered: return within 5 to 10 days.
We do not know if it is a widespread practice or if it is legal or not. We advise you that if you see any strange or duplicate charges on your account or card, whether or not the financing has been accepted, ask about it, find out, and claim if necessary. Do not hesitate to contact Cofidis and your bank as soon as possible.
CAN YOU FINANCE ALL THE PRODUCTS FOUND ON AMAZON? CAN FINANCE ITEMS BE RETURNED?
There are certain products that you will not be able to finance. Amazon’s Pay in 4 Installments option is unavailable for baskets containing gift certificates, digital items (such as music, videos, Kindle books, game or app downloads), and pre-sale or out-of-stock items. Keep this in mind when making your purchase!
On the other hand, the return policy applies to all purchases, including those financed. If you wish to return all the items, you will receive a refund of the amount you have already paid, including the financing opening commission charged by Cofidis.
If you only want to return one or several items but not all of a large order, only the cost of the products you have paid for and want to return will be refunded, and the payment of the remaining installments will be recalculated. And if you cancel the order, Cofidis will cancel the financing and refund the amount you have paid. All refunds are made 7-10 days after the return of the products is confirmed by Amazon.
And you, have you already financed your purchases with payment in 4 Amazon installments? What do you think? Tell us in the comments how was your experience with this payment method.
I am a writer with eight years of experience writing in business and technology. I always carry a passion for learning and discovering new knowledge.