Punch Technology Payment Types

Buy now pay later when you spend £500 (inc. VAT) or more. Working with V12 Retail Finance, Punch Technology can offer a variety of Buy now, Pay Later payment options to ensure you’re up-and-gaming with no delays. With as little as a 10% deposit, and a quick and easy application process, you will have your decision in no time.

 

Finance options 

 

We offer the following Finance Options:

• Interest Free Finance (6 Months)
• Classic Credit 12 months 17.9%
• Classic Credit 24 months 17.9%
• Classic Credit 36 Months 17.9%
• Buy Now Pay Later (6 Months / 36) 19.9%

Buy Now Pay Later (BNPL) means you can purchase any eligible product(s) from the Punch Technology website, and, with the exception of a 10% deposit, you will make no payments for 6 months.

 

HOW DOES IT WORK?

 

Buy Now Pay Later means buy now and pay the total repayable amount in full within the agreed term (six months) and you will be charged absolutely no interest. Should the balance not be paid in full by the end of the agreed term you will automatically enter into a loan agreement with 36 equal payments with a representative APR of 19.9%. If you settle earlier than 36 months you will only pay the interest accrued over the number of months you have been paying the loan.

 

BUY NOW PAY LATER (6 Months/36) 19.9% REPRESENTATIVE EXAMPLE

 

Purchase price	£1,899.95
Deposit amount	Min. £190
Deferral period	6 Months
Settlement fee	£29
Total repayable within deferral period	£1,899.95
Pay over	36 Months
Credit amount	£1,709.95
APR	19.9%
Instalment amount	£67.96
Amount repayable	£2,636.57

 

Representative Examples

 

As well as Buy Now Pay Later, we also offer a range of traditional credit options, allowing you to split the cost over 12, 24 or 36 equal monthly payments at a low APR of 17.9% on all balances above £500. Classic finance options are an interest bearing personal loan.

 

CLASSIC CREDIT 12 MONTHS 17.9% REPRESENTATIVE EXAMPLE

 

Goods price	£899.95
Deposit amount	Min. £90
Loan amount	£809.95
Interest rate	17.9% p.a fixed
Representative	17.9% APR
12 monthly repayments of:	£73.91
Cost of finance	£74.57
Total amount payable	£974.52

 

Punch Technology Limited acts as a credit broker and only offers credit products from Secure Trust Bank plc trading as V12 Retail Finance. Punch Technology Limited is authorised and regulated by the Financial Conduct Authority. Our registration number is 809833. Credit provided subject to age and status.

 

FREQUENTLY ASKED QUESTIONS

 

What is financing?

 

Financing is a method of payment which allows you to make a small, initial outlay and then spread the cost of your purchase over an amount of time that suits you. Our finance options come in the form of “Interest Free”, “Interest Bearing” and “Buy Now, Pay Later”.

 

Who is eligible?

 

V12 Retail finance is available to individuals who:

• are 18 or older
• are, or their partner is, in permanent paid employment, self-employed, retired and receiving a pension, working student in part time work or in receipt of a disability benefit with a minimum income

• have been a resident in the UK for at least 3 years
• have a Bank or Building Society current account available (needed to complete the direct debit instruction)

 

How can I apply?

 

We have made the process of applying as quick and as easy as possible. On all eligible products on our site, you will see a V12 finance calculator that will allow you to see the payments you will be making over your finance period. Once you have chosen your product and proceeded to the checkout, enter your shipping details and proceed to the payments section. Here, you can select ‘Apply for Finance’. You will be redirected to the V12 finance portal where you will be required to fill out a simple online application form. In most cases, the decision will be made immediately, although in some cases, your application may need to be referred.

 

How much can I borrow?

 

V12 Retail Finance can approve you instantly for up to £10,000, ensuring the setup of your dreams is within reach.

 

Is a deposit required?

 

We require a minimum 10% deposit for all V12 finance purchases, though you can put as much as a 50% deposit down. This will need to be paid upon acceptance on all finance options.

 

When will I know if my application for financing has been approved?

 

When reaching decision stage, each application will display one of the following decisions on screen, along with notifying you via email to the decision email you have provided.

 

Approved – You have been approved for the agreement values submitted. You can now proceed through the application and sign the credit agreement.

Declined – You have not been approved for the agreement values submitted and will be given an option to print off V12’s information page about declined applications.

Referred – The application has been referred to V12’s specialist teams for a more detailed review. V12 aim to provide a decision  within 24 hours for web applications.

 

In a small number of cases, it may take longer to carry out additional checks. If V12 require further information, they will contact you directly. As soon as V12 have reached a decision, you will be advised via email.

 

In a small number of cases, it may take longer to carry out additional checks.

 

When does my order get processed?

 

Once you have returned your completed, approved application and your deposit is paid, we will process your order as normal.

 

I need to change the address on my order?

 

Unfortunately, in order to safeguard against fraudulent applications, we must deliver to the shipping address listed in your application.

 

How are my monthly payments made?

 

All monthly payments are paid by direct debit from your personal bank account. Typically the first payment will be due one month after the delivery of your goods, subsequent monthly payments will be due every month for the length of your agreement.

 

What type of goods can I buy on Finance?

 

Anything on our website. Please remember that the minimum order value for finance is £500(inc vat)

 

Can I pay off my loan early?

 

Yes, you can make additional payments at any time on your V12 Self-Service Portal account. V12 can accept additional payments made by debit card on your V12 Self-Service Portal account or over the phone, or you can make a payment by bank transfer. Additional payments will reflect differently depending on your account type.  You can choose for the lump sum payment to reduce the remaining term of your agreement by keeping your monthly payment amount the same or keep your remaining term the same and reduce your monthly payment amount.

 

Will I receive confirmation that I have made all my payments?

 

Yes, you’ll get confirmation of your account being settled sent via email if your communication preference is set to email. This will usually be sent around 10 days after V12 receive your last payment. The confirmation will be sent to the email address you have registered, please check your V12 Self-Service portal account to ensure your details are correct.

 

How can I check my outstanding balance?

 

You can check your outstanding balance online on your V12 Self-Service Portal.

 

Can I view my statement online?

 

Yes, you can view your annual statement online on your V12 Self-Service Portal account. You’ll receive your statement on an annual basis emailed to you when it’s ready. In the meantime, you can view your transaction history live on your V12 Self-Service Portal account.

 

Who provides the finance?

 

Secure Trust Bank PLC t/a V12 Retail Finance is the lender.

 

In case of complaints

 

We like to think that all our customers will be happy with their products from Punch Technology, but where the need arises to make a complaint, please be assured that we take it very seriously.

 

If, for any reason, you are unhappy with the goods you have received, you may contact us via:

 

Phone: 0151 317 9860
Email: [email protected]
Address: Punch Technology Ltd, Meyer Building, Wirral International Business Park, Bromborough, Wirral, CH62 3RH.

 

For all complaints received via email, we endeavour to respond within 5 business days.

 

If your complaint relates to your finance agreement

 

If your complaint relates to the finance linked to your purchase you can still let us know about this, but we will forward it on to your credit provider V12 Retail Finance. V12 will acknowledge your complaint and investigate it thoroughly and issue their response within eight weeks. You can make your complaint by contacting the V12 Customer Resolutions Team by email at [email protected] or by logging onto your V12 Self-Service account and sending a secure message.

 

You can also make your complaint in writing to us at the address below.

 

V12 Retail Finance
25-26 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

 

If you need to speak with someone via telephone, please call the V12 Customer Services team on 029 2046 8900.

 

V12 aim to resolve your complaint by the end of the third business day following receipt of your complaint. The full V12 complaints process can be accessed here; Complaints Process – V12 Retail Finance

 

What to do if you can’t reach an agreement

In the unlikely event, you are still dissatisfied and your agreement is regulated by the FCA, you are entitled to refer your complaint to the Financial Ombudsman Service free of charge. This should be done straight away, but must be within six months from the date of our final response.

 

Further information regarding the Financial Ombudsman Service can be found on their website at www.financial-ombudsman.org.uk.

 

They can be contacted in the following ways:
Write: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
Telephone: 0300 123 9 123
E-mail: [email protected]

 

Further details can be found on the Financial Ombudsman Service website – www.financial-ombudsman.org.uk

Punch Technology Limited is registered in England and Wales No 10250445 Trading address Meyer Building, Wirral International Business Park, Bromborough, Wirral, CH62 3RH

 

Punch Technology Limited acts as a credit broker and only offers credit products from V12 Retail Finance.  Punch Technology Limited is authorised and regulated by the Financial Conduct Authority.  Our registered number is 809833. Credit subject to age and status.