Say Hello to Buy Now, Pay Later!

Use your same OceanAir debit card when you shop and fit larger purchases into your budget through monthly installments.  Keep shopping your way with Buy Now, Pay Later. We’re bringing the flexibility.  

Same Debit Card, More Flexible Payments

• Review and manage all plans, offers and payments in one place 
• Use your debit card whenever and wherever you shop 
• Manage your budget by spreading larger expenses over time 

Getting Started with Buy Now, Pay Later

• Make purchases with your debit card 
• Check  Buy Now, Pay Later in your Digital Banking dashboard 
• View available offers on eligible purchases 
• Decide which purchases you would like to split over time 
• Select the installment plan that works for you 
• See your purchase amount deposited back into your account within 24 hours 

Repayment Terms for BNPL

Frequently Asked Questions about BNPL

Where can I find my BNPL offers?  
BNPL offers are found in OceanAir Federal Credit Union’s Online Banking from the “Buy Now, Pay Later” tab. From the Mobile App, you can find “Buy Now, Pay Later” when you select “Services” in the main menu, then select “Buy Now, Pay Later”. 

Why can’t I see any BNPL offers?  
If you do not see any BNPL offers, this may be because your current account status or your recent debit card purchases are not eligible for BNPL. If you already have active BNPL plans, you may not be eligible for additional offers until the active plans are paid back. 

What is an eligible purchase? 
An eligible purchase is a debit card purchase made in the past 60 days that is at least $100 and was not a cash equivalent purchase (e.g., ATM withdrawal, money order, cash advance, etc.). Other restrictions surrounding the merchant type and transaction limits may affect BNPL eligibility.  

Does BNPL require a credit check? 
No, OceanAir’s debit card BNPL offering does not require a credit check. 

Plan Your Purchase 

Make planned purchases more manageable with Plan Your Purchase (PYP). Available to eligible OceanAir members, PYP provides access to pre-qualified unsecured installment loans that can be used for purchases you are planning ahead of time, with predictable monthly payments and no prepayment penalty.

Why Choose Plan Your Purchase?

• Receive funds before making your purchase  
• No credit check to qualify and no credit reporting  
• No prepayment penalties 
• Access offers directly through Online Banking or the Mobile App  
• Fixed payments with terms up to 24 months 

Available Loan Amounts and Terms

• Loan amounts from $100 to $3,500 (in $100 increments) 
• Fixed rate of 16.50%  
• Repayment terms from 3 to 24 months  
• Up to 3 active PYP loans at one time, with a combined balance limit of $3,500 

Repayment Terms for PYP

* Loan Amounts in $100 increments only

Buy Now, Pay Later (BNPL) and Plan Your Purchase (PYP) Disclosure

Buy Now, Pay Later (BNPL) and Plan Your Purchase (PYP) are financing solutions available to eligible OceanAir Federal Credit Union members through OceanAir Online Banking. BNPL may be available for eligible debit card purchases, while PYP may be available for planned purchases. Members must have maintained an account for at least 180 days, have fewer than two (2) NSF occurrences within the previous 60 days, and meet other qualifying criteria. No credit check is required.

Eligibility, offers, loan amounts, repayment terms, APR, and approval are based on account status, program requirements, and other qualifying criteria. Offers may vary by member. Loan amounts are available in $100 increments, subject to applicable program limits.

· BNPL: Members may have up to five (5) active BNPL plans, with a combined outstanding balance not exceeding $2,500. Each BNPL plan carries a 16.50% APR.

· PYP: Members may have up to three (3) active PYP plans, with a combined outstanding balance not exceeding $3,500. Each PYP plan carries a 16.50% APR.

Available repayment terms are based on the plan type and loan amount:

BNPL repayment terms:

· $100.00–$200.00: 3 or 6 months

· $200.01–$1,000.00: 3, 6, or 9 months

· $1,000.01–$2,500.00: 12, 15, or 18 months

PYP repayment terms:

· $100–$200: 3 months

· $300–$1,000: 3, 6, or 9 months

· $1,100–$2,400: 9, 12, or 18 months

· $2,500–$3,500: 12, 18, or 24 months

Once a repayment term is selected, it cannot be changed. There is no prepayment penalty. A $5.00 late fee applies after a 10-day grace period.

Programs, rates, terms, conditions, eligibility requirements, and offers are subject to change without notice. Not all members or purchases will qualify. Joint account holders are not eligible. All offers are subject to approval. Other restrictions may apply.