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Frequently Asked Questions
Yes, in principle everyone can use PayDay, provided you are at least 18 years old, have a regular income, and reside in Switzerland.
PayDay does not negatively affect creditworthiness, even with less than perfect credit. Moreover, your credit score is actually strengthened by timely repayment of invoices through good payment behavior and fewer reminders – this improves your situation.
Yes. Even if your creditworthiness is not perfect, you can apply at PayDay.
PayDay doesn't use interest rates or hidden costs like traditional personal loans. Instead, you pay a clearly defined monthly fee – full cost control, no surprises.
No, no interest is charged. Instead, PayDay charges an annual fee of CHF 19.90 for using the service. This fee is waived in the first year. For an invoice cycle with 1 invoice, a fee of CHF 24.80 is charged. Each additional invoice costs CHF 4.90.
You have 30 days for repayment. If you need more time, you can extend the deadline once by another 30 days – for an additional fee of 19.90 CHF.
From the second year of use, a fixed annual fee of CHF 19.90 applies to keep the account active.
For the first invoice of the day you pay CHF 24.80, followed by CHF 4.90 for each additional invoice on the same day.
The last 3 salary statements are there to ensure that you have regular income and are able to repay the paid invoices – to prevent you from getting into additional debt.
For the application you need: Email address, copy of passport or ID card (ID, B/C permit), and the last 3 pay slips as proof of income. During onboarding, a KYC process is also carried out (e.g., ID upload, bank QR transaction, or face ID verification).
There is no numerical limit – what matters is that the total amount of all invoices per month does not exceed 499 CHF.
After PayDay pays your invoices, you have 30 days to repay the corresponding amount via bank transfer. If you want more time, you pay the 19.90 CHF extension fee for another 30 days.