Finance apps

Can I Transfer Money from Clearpay to My Bank Account? 

Can I Transfer Money from Clearpay to My Bank Account? 

Clearpay is a reputable platform which has reshaped the way customers shop online through its provision of a convenient payment service that allows them to make purchases instantly and pay for them in 4 automatic installments, every 2 weeks, without incurring any interest (Note that late fees may apply). 

In this article, I have provided an answer to this question (Can I Transfer Money from Clearpay to My Bank Account?) which could probably be what brought you here.

But before you explore the answer to “Can I Transfer Money from Clearpay to My Bank Account?), you may need to explore a brief info about what clearpay is. You can found it right below:

What is Clearpay?


Clearpay is a reputable payment service that grants customers a fixed amount of credit, enabling them to shop for their desired products and split the cost into manageable installments. 

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Unlike traditional credit options, Clearpay does not charge any interest, making it an appealing choice for you if you are looking for budget-friendly payment solutions.

You can also explore how to use clearpay before you finally get to the answer of “Can I Transfer Money from Clearpay to My Bank Account?”.

How to Use Clearpay

Using Clearpay is absolutely simple and straightforward! 

When shopping on Drench, you can check out as usual. 

During the checkout process, you’ll be presented with the option to select Clearpay as your preferred payment method. 

By clicking on it, you’ll be redirected to the Clearpay website, where you can easily register and provide your payment details.

Clearpay accepts Visa, Mastercard, and Amex as payment options, offering flexibility to a wide range of customers.

For returning users, the process is even more seamless. 

Simply log in to your Clearpay account, and you’re ready to make your purchase, benefitting from the convenience and payment flexibility Clearpay provides.

Now, you can explore the answer to “Can I Transfer Money from Clearpay to My Bank Account?”.

Can I Transfer Money from Clearpay to My Bank Account? 

No, unfortunately, Clearpay currently does not allow you to transfer money from your Clearpay account to your bank account.

The funds in your Clearpay account can only be used for making purchases through the platform and cannot be withdrawn or transferred to an external bank account. 

Clearpay is specifically designed as a payment service to facilitate convenient installment-based purchases, but it doesn’t function as a typical bank account with money transfer capabilities.

ClearPay Alternative

Klarna is an excellent alternative to Clearpay that offers the convenience of transferring money to your bank account. Like Clearpay, Klarna is also a popular payment service that allows customers to make purchases in installments, spreading the cost over time. 

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However, Klarna goes a step further by offering additional features, including the option to transfer funds from your Klarna account back to your linked bank account.

With Klarna, you can shop at various online retailers and choose the “Pay later” option at checkout. 

This allows you to split your purchase into manageable installments, without any interest charges or hidden fees.

Furthermore, if you have an available balance in your Klarna account, you have the flexibility to transfer that money back to your bank account whenever you need it.

FAQs On Can I Transfer Money from Clearpay to My Bank Account? 

Here are some frequently asked questions on Can I Transfer Money from Clearpay to My Bank Account? with their respective answers:

How does Clearpay work?

When shopping online, you can choose Clearpay as your payment method at checkout. 

You’ll be redirected to the Clearpay website to register and provide payment details. If you’re a returning user, you can log in to your Clearpay account. 

Clearpay automatically splits the total purchase amount into four equal installments, and payments are deducted from your linked debit or credit card.

Can I use Clearpay anywhere?

As of now, Clearpay can only be used for purchases made on specific partner websites. 

For example, you can use Clearpay on the Drench website but not on all online retailers. 

Is Clearpay a credit service?

Clearpay offers a buy-now-pay-later service, which is not a traditional credit service. 

Instead, it provides customers with a fixed amount of credit to make purchases in installments. 

Clearpay performs a soft credit check during registration, but this check does not impact your credit score.

How do I manage my Clearpay account?

You can manage your Clearpay account through their website or mobile app. From there, you can view your purchases, payment schedule, and update your payment details.

Can I return items purchased with Clearpay?

Yes, you can return items purchased with Clearpay following the retailer’s return policy. 

Once the retailer processes the return, Clearpay will adjust your installment plan accordingly.

Can I make early payments with Clearpay?

Yes, you have the option to make early payments through your Clearpay account. Making early payments can help you pay off your purchases faster and reduce the number of installments.

Where Can I Use Clearpay?

As of now, Clearpay can exclusively be used for purchases made on the Drench website. 

This partnership ensures that customers shopping on Drench can enjoy the benefits of Clearpay’s payment service, enabling them to buy their desired products without breaking their budget.

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