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Pay over time T&Cs.

This page provides an overview of the terms and conditions when using our Pay over time offering in Austria.

  • “In Short” is a simplified version of the text to help you quickly understand the main points of each section. It is not legally binding and doesn’t form part of the agreement you may enter into with Klarna.

  • If you have any questions about the terms of the agreement, always consult the full legal version.

  • For ease of accessibility, there are German and English versions of the terms. However, only the German terms and conditions are considered legally binding in Austria.

  • In case of queries, contact Klarna Customer Service.

1. Your use of the Klarna Credit and conditions for payout.

We will provide you with credit on the terms set out in this Agreement by allowing you to pay for a purchase made from a Supplier (“Purchase”). When you make a Purchase, we will pay the amount of the loan directly to the Supplier on the day when the goods are dispatched by the Supplier or, for a service, when the service is made available to you by the Supplier (the “Transaction Date”), provided that:

a) we have accepted your application,
b) you provided the requested information and
c) your creditworthiness did not deteriorate between the conclusion of this Agreement and the envisaged disbursement of the loan to the Supplier.

In Short
Klarna will provide you with a payment plan for the purchase once you enter into the agreement.

  • We give you a loan equal to the cost of your purchase.

  • The payment plan starts when the store ships your order or provides the service.

We Suggest
Read through the agreement and get familiarized with the terms 🙂.

2. Interest.

For a Purchase made, the “Transaction Date” is the day when the goods are dispatched by the Supplier or, for a service, when the service is made available to you by the Supplier. Interest is charged, starting on the Transaction Date, on the balance outstanding.

In the event that the Supplier dispatches only part of your Purchase on the Transaction Date you will only be charged interest on the value of the goods dispatched. If part of your order never gets dispatched, you will not pay interest on this part of your Purchase. This will reduce the total amount of interest you pay under this Agreement.

In Short
We calculate interest from the day the store ships the product, or when the service is made available to you.

  • You only pay interest for products that have been shipped.

3. Your repayments and statements showing payments owing under the agreement.

You are responsible for repaying the outstanding loan together with interest by way of repayment in instalments in the amounts and at the time as set out above under “Repayment details”.

You have a right to receive, upon request, and free of charge, at any time throughout the duration of this agreement a statement in the form of a table showing:

a) the details of each repayment owing under this Agreement together with their due dates;
b) the amount and any conditions relating to the making of the repayment; and
c) a breakdown of each repayment, setting out how much of the repayment is made up of the amount borrowed, interest on the amount borrowed and any other charges (if applicable).

In Short
You are responsible for paying the monthly installments on time according to your payment schedule.

  • You can request a statement for the loan at any time, free of charge.

  • Your statements and payment plan are also available on the Klarna App.

We Suggest
Make sure to read the “Repayment Details” to learn more about your monthly payments 🤓.

4. Early Repayment.

You have the right to repay all or part of the credit early at any time at no extra cost. Please reach out to Klarna customer service on our website for more details. We will let you know the balance outstanding upon request.

In Short
You can pay the full amount or partial amount of the loan at any time, without added costs.

  • Early repayment also reduces the total interest you pay on the loan.

  • You can contact us to know your remaining balance, free of charge. This information is also available on the Klarna app.

We Suggest
Visit the Klarna app to know your outstanding balance or contact Klarna Customer Service 🧐.

5. Payment default, default interest and consequences of missed payment.

If you fail to make a due monthly payment, we will not charge you default interest. However, late payments may result in you paying more interest than originally calculated over the term of this Agreement. Interest is calculated on a daily basis and if your balance does not reduce as planned, interest will be charged on your unpaid balances.

If you miss a payment and your payment becomes overdue, we will serve you with a payment reminder. We will send you up to a maximum of 5 reminders over an eight-week period from the first due date. If your balance remains overdue for over eight weeks from the first due date, we may serve a default notice on you, requiring that you bring the payments up to date. If you then fail to do so, we may, by giving you written notice, terminate the Agreement and/or require that you make immediate repayment of the outstanding amounts. You should pay any overdue balance as soon as possible in order to reduce your overall interest payments over the term of this Agreement.

Late payments can negatively affect your credit history which will make it more difficult or more expensive for you to obtain credit in the future. Legal action may be taken against you to recover the debt. You are under the obligation to compensate us for the actual costs incurred due to your fault for appropriate extrajudicial debt collection or recovery measures, provided that these costs were required and appropriate and in a reasonable proportion to the due debt.

In Short
No hidden fees or surprises.

  • Your interest rate will not change for the duration of the loan.

  • We don’t charge late fees for delayed payments. You only pay interest on the remaining loan.

  • You’ll receive an email before the payment date. We’ll withdraw the payment automatically, unless you disable it.

  • If you miss a payment, we’ll send you multiple reminders.

  • Only if you don’t act on the reminders, will we send a default notice.

  • If you don’t act on the default notice, we’ll cancel the agreement and you’ll have to pay us immediately. This can also affect your credit history negatively.

We Suggest
Paying on time saves you money and reduces stress 🤩.

6. SEPA Direct Debit.

You have granted SEPA Direct Debit Mandate as per the terms set out above under “Payment Method – SEPA Direct Debit Mandate”. You may withdraw the SEPA Direct Debit Mandate at any time by contacting your bank. A withdrawal does not release you from your obligation to pay any sums becoming due under this Agreement.

Please note: If your account does not have sufficient funds, the bank holding the account is not obliged to redeem it. Partial redemptions are not made in the direct debit procedure.

In the case of a return debit (due to insufficient funds in the current account, due to the expiry of the account or an unauthorized objection by the account holder), you will receive a payment reminder from us by email and you are obliged to pay the potential costs for processing the return debit.

In Short
Select direct debit as your payment option, and stop worrying about making manual payments.

  • With direct debit we withdraw the installment directly from your bank.

  • We send a notification 2 days before we withdraw money.

  • If you don’t have enough money in the bank for direct debit, we’ll send you a reminder.

  • You can choose not to use direct debit, and make payments yourself.

We Suggest
Use Direct Debit to save time 😎.

7. Right to terminate this Agreement.

Both parties may terminate this Agreement for cause. For us any of the following reasons constitute cause and we may terminate this Agreement and require you to repay us the outstanding balance and accrued interest:

a) payment default (clause 5 of this Agreement); or
b) occurrence of one the following circumstances ((i) to (iii)) and as a result there is a risk that you will not fulfil your obligations under this Agreement (in particular the entire repayment of the loan):
(i) you have given us information that is inaccurate or untrue and such information was relevant for us for the entering into this Agreement;
(ii) you die;
(iii) your creditworthiness deteriorates compared to the time of the conclusion of this Agreement; or
c) you fail to comply with our written request to provide all necessary information and evidence within the set period of at least 3 weeks from receipt of the request from us so that we can comply with the due diligence obligations under the provisions on the prevention of money laundering and terrorist financing.

We will give you written notice of the termination of this Agreement. Upon receipt of such termination notice, our claims against you become immediately due and payable.

If one of the circumstances set under paragraph (b) occurs between the conclusion of the credit agreement and the disbursement of the loan and if the repayment of the loan to be disbursed is endangered thereby, we shall be entitled to refuse the disbursement. If we intend to make use of our right to refuse disbursement, we must inform you immediately in writing, stating the reasons.

In Short
In some rare cases, we can cancel the agreement. We do so if you don’t make timely payments, even after receiving multiple reminders, or you cannot pay the loan.

  • We’ll send you a letter, if we have to cancel the agreement.

  • After the agreement is canceled, you’ll need to pay us the remaining amount of the loan immediately.

We Suggest
Stay on top of your payments 😉.

8. Your right of set-off.

You shall only be entitled to set off your liabilities, if we are insolvent or if your claim is legally related to your liability or if your claim has been determined by a court or acknowledged by us.

In Short
We don’t combine refunds from another Klarna order with the current loan. If you have a refund, you’ll receive the amount separately. There are however some exceptions:

  • If a court orders us to settle the outstanding amount in the current loan.

  • We make a one time exception.

  • We go bankrupt and cannot pay you the outstanding amount.

9. Changes to this Agreement.

We may not change the interest rate and/or fees or charges payable under your Agreement to take account of changes in the cost of providing credit to you or to reflect the cost of any system or product development without your explicit consent.

We may only propose changes and additions to the other terms of this Agreement, provided that such changes and additions are required to reflect changes in the law or its interpretation by courts and adhere to the following procedure:
a) We will notify you in writing of proposed changes to the Agreement. This notification will also contain all information according to the following paragraphs b) to d).
b) You may object to the changes proposed by us within a period of two months upon receipt of the notification.
c) If you expressly object to the changes in time, the changes will not affect you.
d) If you do not object expressly in good time, your conduct shall be deemed to constitute your consent to the proposed changes. The proposed changes will become effective after the expiry of 2 months of the receipt of our respective notice.

In Short
The agreement can only be changed after your written approval.

  • We don’t make changes to the agreement without informing you.

  • Changes to these agreements are very rare, they will only change if legally required.

We Suggest
Carefully read any changes made to the agreement 😊.

10. Right of withdrawal.

You have a right under the Consumer Credit Act (VKrG) to withdraw from this Agreement without having to give any reason. To exercise your right of withdrawal you must give notice of your intention to withdraw from the Agreement before the end of 14 days beginning with the day after the day on which you receive a copy of the Agreement signed by us, unless you have received an earlier copy, in which event the 14-day period will begin on the day after the day you receive our written confirmation that the Agreement has been made on the same terms as set out in the earlier copy. In case you have not received the information pursuant to Sec 9 of the VKrG the 14-day period will begin upon receipt of such information. You must give notice of withdrawal by telephone or in writing to our business address. You must repay the amount of credit provided under this Agreement, together with any interest accrued from the date the credit was provided to the date you repay it, without delay and no later than 30 calendar days after giving notice of withdrawal.

In Short
You can cancel the loan without providing a reason within 14 days of signing the agreement.

  • You can cancel the loan by calling us or writing to us.

  • You’ll need to pay us the remaining loan plus interest amount up until the point the agreement is canceled.

We Suggest
Double-check the conditions to perform a “Right of Withdrawal” 🤓.

11. Linked credit agreement.

This Agreement is a linked credit agreement within the meaning of Section 13 of the Consumer Credit Act. You therefore have the right to refuse to satisfy Klarna insofar as you are entitled to objections against the Supplier arising from the legal relationship with the Supplier and these objections have demonstrably been asserted by you against the Supplier without success. If you withdraw from this Agreement in accordance with your 14-day right of withdrawal (see clause 10.), you may withdraw from the contract of sale of the goods/services within one week of submitting the withdrawal. If you withdraw from the agreement with the Supplier due to consumer protection regulations, the withdrawal shall also apply to a related credit agreement and you shall instruct the Supplier to transfer the purchase price paid by Klarna directly to Klarna.

In Short
The purchase you made is linked to the loan provided by Klarna. This means:

  • Returning the purchase will also cancel the loan.

  • If you purchase multiple products and return some products, we’ll remove the returned products from the loan agreement.

12. Consent to electronic communication, correspondence and change of details.

When you give your consent to us sending electronic communications to the e-mail address or telephone number you have provided, you agree that we may send statements, notices and other communications under or in relation to the Agreement (other than communications that are required by law to be sent in paper form) via email to this e-mail address or via text message to this mobile phone number. You must promptly inform us of any changes to your name, address, email or telephone number. You must provide any evidence of such changes that we may reasonably require. All communication between you and us in relation to this Agreement shall be in German.

In Short
We send details about your loan by email, sms, push notification or post. We use email and sms as much as possible.

We Suggest
Keep your contact information, like address, e-mail and telephone number, up to date in the Klarna app 😃.

13. Our use of your personal data.

Klarna processes your personal data in order to carry out our obligations in this Agreement and for the additional purposes set out in our Privacy Notice. The Privacy Notice is available here, and on our website. We process your personal data for example to identify you and perform customer analysis, credit assessments, marketing, and business development. We may also transfer your data to selected partners (such as credit reference bureaus), which may be established outside of Austria. In the Privacy Notice there is more information about our data sharing, your rights in regards to your data, how you may contact us with questions, or submit a complaint to an authority.
For information about what data we transfer to credit reference agencies, and for what purposes, please refer to clause 15 and 16 below and to the Privacy Notice.

In Short

  • We use your data to perform customer analysis, credit assessment, marketing and support in growing our business.

  • We also share your data with credit reference bureaus for credit assessments.

We Suggest
Read the Privacy Notice if you want to know more about how we use your data 😉.

14. Assignment.

You may not transfer or assign any rights or obligations you have under this Agreement without our prior written consent. We have the right to transfer or assign this Agreement or any right or obligation under this Agreement as pointed out in clause 17 at any time without your consent, provided that such transfer does not alter your rights and obligations under this Agreement to your detriment.

In Short
The loan agreement is between you and Klarna.

  • You cannot transfer the loan to another person, like your friend or family member.

  • We can transfer the loan to another company. For example, if you go to debt collection.

  • Transferring the loan will not change the terms of the agreement.

15. General information to and from credit reference agencies (Market Specific).

When you apply for a fixed sum loan, we make a full credit search with credit reference agencies who will supply us with credit information. The agencies will record details of the search, which can be seen on your credit file, whether or not credit is granted. This record will also be visible to third parties and may affect other organisations’ future decisions on whether or not to provide you with credit. We will report information to credit reference agencies about the payments you make, and about any payments that you fail to make on time. If we do not grant your credit application, you will receive a failure notice from us. If our decision not to grant your application for credit is based on information supplied by a credit reference agency, we will inform you immediately and without charge of the result of the search and of the particulars of the credit reference agency consulted.

In Short
We perform a credit check before we can provide you with a loan. This enables Klarna to provide credit responsibly.

  • Your data for the credit check is recorded by the Credit Reference Agency (The company that provides us with data to make a credit check).

  • If you are not granted a loan, you’ll be informed as part of the application process.

  • To keep your credit data up-to-date, we share your payment history with the Credit Reference Agency (Market Specific).

We Suggest
Timely payments improve your credit score 😏.

16. Transfer of data to KSV, CRIF and Bisnode.

In order to determine creditworthiness or default risks within the scope of the business initiation or the existing business relationship and also after the termination of the business relationship until complete settlement, data of you and liable parties (“data subjects”) are reported to the Consumer Credit Register (“KKE”) and to the Warning List of Austrian Credit Institutions (“Warning List”), both maintained by the Credit Protection Association of 1870 with its registered office in Vienna (“KSV”).

The KKE and the warning list are records kept for the purposes of creditor protection and risk minimization. The basis for registration in these records and the provision of information from them is the legitimate overriding interest of the registering and querying companies in the creditworthiness check required by supervisory law under the Austrian Banking Act and by consumer protection law under the Austrian Consumer Credit Act and the Austrian Mortgage and Real Estate Credit Act.

The KSV includes the following data of data subjects in the KKE, which are reported to it by credit institutions, credit-granting insurance companies and leasing companies:

– on the occasion of the application for the transaction, the identity data (name, address, date of birth, sex) and the credit / loan data (amount of the debt, repayment modalities)
– on the occasion of the granting or rejection of the credit / loan, this circumstance, any subsequently agreed changes to the credit / loan processing, such as early repayment or extension of term
– any customer behaviour contrary to the terms of the contract
– any steps in connection with the due date or legal action.

This data may only be requested by credit institutions, credit-granting insurance companies and leasing companies with their registered office in a member state of the European Economic Area (EEA), insofar as the requesting company is under a legal obligation to correctly assess the credit risk posed by a credit applicant.
KSV includes the following data of customers in the warning list, which are reported to KSV due to a breach of contract by the customer:
Name, address, date of birth, gender, amount of the debt, repayment modalities, steps taken by the credit institution in connection with the due date and legal proceedings, and misuse of payment instruments.

This data is only passed on to credit institutions so that they can better fulfil their legal duty of care for the concrete assessment of a credit risk.

In Short
We share your data with Credit Reference Agencies, and some government organizations.

  • The data is used to calculate if you can be given a loan in the future. Along with avoiding misuse of credit by you or other consumers.

  • We share:

    • Personal Data : Includes your name, address, date of birth, gender.

    • Financial Data : Includes the amount of debt you have, your repayment details and any legal actions taken in case of misuse of our service.

If you have questions or disagree with the credit assessment, reach out to a customer advisor.

17. Passing on of data for the purpose of consortium participation, refinancing, passing on of receivables and collection assignment.

We intend to forward the following data relating you and this Agreement which has become known to us in the course of the business relationship with you and which is necessary or expedient for assessing the risks arising from transactions with the respective person or company concerned to

a) (potential) syndicate/risk partners of Klarna for risk assessment in the context of the syndicate business,
b) Klarna’s refinancing lenders to whom the our claims against you serve as collateral for the purpose of assessing the collateral provided,
c) (potential) contractual partners of Klarna to whom claims or rights and obligations of Klarna arising from the transaction with you are (are to be) legally or economically assigned or transferred or to whom other rights thereto are (are to be) granted (pledge, sub-participation), for the purpose of informing these (potential) contractual partners about your creditworthiness, the contractual basis and all circumstances relevant to the existence and recoverability of the claims and their collateralisation,
d) collection companies to which credit claims are assigned for the purpose of collection (collection assignment).

The following data will be passed on to the named recipients:

Personal customer data:
for example: gender, title, name, date of birth, country of birth, citizenship, marital status, tax status, education, occupation, credentials (e.g. driver’s license) employer, income, address, contact details (phone, email, postal address), securities risk class (investor profile), household bills, credit ratings
For entrepreneurs additionally:
Company name, entry in the company register, branch of business, company relations, balance sheets, profit and loss account, income and expenditure account, plans
Product data of the customer at the bank:
for example: supervising bank and supervisor at the bank, products at the bank, means of payment used (debit and credit cards), account balances, liabilities, overdrafts, balances, interest rates, fees and charges, deposits and deposit values
Balance sheet (dates), contract and security documents including supplements, addenda and addendums, proof of income.

In Short
We share your data with other companies for risk assessments, credit checks and debt collection. We share:

  • Personal Data: gender, name, date of birth, country of birth, citizenship, marital status, tax status, education, occupation, employer, income, address, contact details (phone, email, postal address), etc.

  • In case of an entrepreneur: Company name, entry in the company register, branch of business, company relations, balance sheets, profit and loss account, income and expenditure account, plans.

18. Supervisory authority.

Klarna Bank AB (publ), with place of business at Sveavägen 46, 111 34 Stockholm, Sweden, e-mail: kunde@klarna.at, and registered in the Swedish companies register under the registration number 556737-0431 (“Klarna”). The Managing Director is Sebastian Siemiatkowski. Klarna is a provider of financial services, mainly providing online payment solutions, and as such authorized by the Swedish supervisory authority Finansinspektionen, Box 7821, 10397 Stockholm, registration number 41538. Klarna is registered as a cross-border provider of financial services at local supervisory authorities throughout the European Union as well as in Norway, Iceland and Liechtenstein.

In Short
Klarna is a provider of financial services, authorised by the Swedish Financial Supervisory Authority.

  • This allows us to provide financial services within the European Union, including Norway, Iceland and Liechtenstein.

19. Complaints.

If you have a complaint towards Klarna, you can submit your complaint through Klarna’s website (klarna.com/at) or via postal mail with the keyword “Complaint” to Klarna’s address or give us a call under +43(0)720 88 3811.
If we are unable to resolve your complaint, you may refer your complaint to the Swedish National Board for Consumer Disputes (ARN). Klarna will participate in such proceedings and is obliged to do so under applicable law. More information can be found on ARN’s website: https://www.arn.se/. You can submit your complaint in any official language of the European Union through the ODR-platform provided by the European Commission: https://ec.europa.eu/consumers/odr/. The complaint will then be forwarded to ARN. You may also contact ARN by postal mail or personally: Allmänna reklamationsnämnden, Postbox 174, 101 23 Stockholm, Sweden, Visitor Address: Kungsholmstorg 5, Stockholm.

In Short
If you have a complaint, reach out to us by email, post, phone or our website.

  • If you are sending a letter or writing an email use the keyword “Complaint”.

  • You can take legal action, if we are not able to solve your complaint.

20. Governing law (Market Specific).

This Agreement is governed by the laws of Austria and is subject to the exclusive jurisdiction of the courts of Austria. The contractual and communication language is German.

In Short
Austrian laws and regulations are applicable to this agreement.

  • All communication from us will be in German and English language.

21. General.

If at any time we allow any time for remedy of a breach, or if otherwise we do not insist on our strict rights under the Agreement, this will not prevent us from insisting on our strict rights on another occasion. If we agree to a variation on one occasion, it does not mean that we must agree to it on another occasion.

Any provision of this Agreement which expressly or by implication is intended to come into or continue in force on or after termination of this Agreement shall remain in full force and effect.
This Agreement does not affect or exclude any term implied by law unless it expressly says so. If any term in this Agreement shall not be enforceable, it will not affect the enforceability of all other terms.

If your application for a fixed sum loan from Klarna is approved, you will receive confirmation from Klarna and you will be able to finalise your purchase with credit. You will receive a copy of your credit agreement via email, or to your home address if we are unable to deliver the credit agreement to you via email, and an email with further information.
You hereby release Klarna Bank AB (publ) from the banking secrecy with regard to the disclosure of my data as set out under clause 15 and 16 within the meaning of Sec. 38 (2) no.5 of the Austrian Banking Act (Bankwesengesetz “BWG”).
You hereby agree that Klarna Bank AB (publ) will disclose all information required for a sale of receivables to third parties who intend to participate in the credit risk under this Agreement through (full or partial) acquisition of the bank’s receivables, sub-participation of any other form of risk assumption and I release Klarna Bank AB (publ) from the banking secrecy with regard to such disclosure within the meaning of Sec. 38 (2) no. 5 BWG.

In Short
Some other information to keep in mind:

  • We can make a one-time exception to the terms of the agreement if you have a genuine request.

  • Some agreement terms can continue to be in effect after the loan period ends.

  • The agreement terms don’t override national laws, unless we state it in the agreement.

  • We’ll send you a copy of the agreement when you complete the purchase.

  • You agree that we may share your personal data with other companies in accordance with the loan agreement, e.g. to credit reference agencies or debt collection agencies (if necessary).

We Suggest
Read the agreement carefully 😀.