Repayments

You'll only repay the amount you spend, and the monthly repayment amount will remain according to your agreement. The monthly repayment amount will not decrease if you don't use the full loan amount, however you will pay the loan back over a shorter period.

Your first Direct Debit will be taken after the first spend on your loan. 

Your monthly payments are taken by Direct Debit. This is explained in the terms and conditions of your agreement when you applied.

Your Direct Debit payments will show on your bank statement as Ikano Bank AB (publ).

These payments are due on the same date every month. If your payment date falls on a weekend or bank holiday, the payment will be taken from your bank account on the next working day.

If your Direct Debit payment is returned unpaid from your bank, and you don’t pay your monthly payment by your due date, you will be charged a £12 fee.

You can make extra payments anytime by bank transfer using the account details below:

Ikano Bank AB (Publ)
Sort code: 40-63-84
Account number: 90023014
Reference number: Please use your 16-digit account number that begins 94010

Please make sure that you use your IKEA loan account number as the reference for your payment, so we can match this to your account. If this is missing or incorrect, the payment will be returned to your bank account.

You can also log in to your account and go to the extra payments section to view these details.

We are unable to take payments by Debit Card via the app or with our customer service agents.

Yes, you can pay off your loan in full at any time. Log in to your account and go to the extra payments section.

Please make sure that you use your IKEA loan account number as the reference for your payment, so we can match this to your account. If this is missing or incorrect, the payment will be returned to your bank account.

Please note - if you make a payment and your Direct Debit is due within the next 11 working days, there's a chance the Direct Debit may still be collected.

If this happens, the amount will be automatically refunded back to your bank account within 10 working days.

Yes, you can change your bank details in your online account (on the website or via the app). The bank account used for your Direct Debit payment must be in your name and a UK bank account.

Depending on when you change it, your next payment may still be taken from your old bank account. This happens if your next payment is due within the next 15 days.

If you have already changed your bank details and are worried about the payment being missed, please contact us.

Yes, after your first Direct Debit payment is taken. You can change your payment due date in your online account (on the website or via the app).

Depending on when you change it, your next payment may still be taken on your old due date. This happens if:

- Your next payment is due within the next 15 days.
- The due date you want is less than 25 days after your last payment.

If you have already changed your due date recently, we are not able to change your date again until after your next payment has been taken.

You’ll be charged a £12 fee.

It may also be recorded on your credit report, which could make it harder for you to get credit in the future.

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