FAQ about credit cards billing

General information on billing and paying bill

Debit payments are made with a debit card or with the debit feature of a combination card and debited from a bank account. Credit payments are made with a credit card or with the credit feature of a combination card.

You’ll receive a bill for your credit payments once a month and a 35-day interest-free billing period on average. When you receive the bill, you can decide whether you want to pay the agreed minimum payment, the entire outstanding balance or anything in between.

You can receive OP’s credit card bills as e-invoices, as direct payment or as a paper bill. To receive e-invoices, you need a Finnish bank’s online bank user identifiers. If you don’t have online bank user identifiers, you can use direct payment or a paper bill. E-invoice and direct payment are free-of-charge billing methods. For a paper bill we will charge 3 euros/bill.

If you have a user ID for OP’s digital services, you can check your credit card billing method as follows:

  • OP-mobile: Accounts and cards - Select a card - Bill - Billing method
  • Op.fi service (in Finnish): Rahat (tai Kortit) Money (or Cards) – Omat kortit My cards - Select a card – Laskutus Billing - Laskutustapa Billing method

If you do not have a user ID for OP’s digital services, you can use the chat feature (in Finnish) or call our Customer Service to check which billing method you are using.

You can see the e-invoices and the related payment proposals on OP-mobile and the op.fi service at least two weeks before the due date. If the e-invoice shows no amount to pay out, it will go directly to the e-invoice archive.

Regardless of the billing method, you can find archived versions of your bills in My archive. My archive is the easiest way to view the credit card bills you have received.

Go to My archive as follows:

  • OP-mobile: More - My profile - My archive
  • op.fi service (in Finnish): your name – Oma arkisto My archive

Depending on the billing method you have selected, you can pay your credit card bill as an e-invoice, using the bill's barcode or by copying or manually entering the bill's payment details.

For e-invoices, you can select automatic payment, which means that the credit card bill will be paid automatically from the account of your choice on the e-invoice due date. In an automatic payment of a credit card bill, the amount you’ve defined as the credit card’s monthly payment is debited. You can always edit the bill’s amount before its due date. You can also set a maximum amount per bill so that payments below that amount will be confirmed automatically. You’ll continue to confirm separately any bills exceeding the maximum amount, either in the op.fi service, OP-mobile or OP Business mobile. The settings and limits for automatic payment of e-invoices always apply to all credit card bills from OP.

Payee: OP Retail Customers plc
Account number: FI10 5000 0120 3374 71
Reference: Check your card-specific reference on OP-mobile or the op.fi service or in your paper bill.

OP-mobile: Accounts and cards - Select a card - Billing - Reference number
Op.fi service (in Finnish): Rahat (tai Kortit) Money (or Cards) – Omat kortit My cards - Select a card – Laskutus Billing – Laskun viitenumero Reference number of bill or in your paper bill.

The payee and payee's account number are always the same for all OP credit cards. The reference is card-specific, in other words, it remains the same from month to month.

If your card is changed, for example, if it is replaced because you have lost your previous card, its validity has expired or the card is broken, the payment details will remain unchanged.

You can repay the debt with an amount of your choice or pay it off in full. The easiest way to make a repayment is to do it on OP-mobile. Go to Money and select the card. Then under the Bill tab, select Repay credit.

If you use the op.fi service to pay down your outstanding balance, you can find the reference number and account number needed for the repayment in the card details or in your previous bill. Since the account number and reference on your credit card bill are always the same, you can also copy a previous payment.

Extra repayments are free of charge and you can repay your credit card debt as often as you like. Please note that repayment is shown in the card’s balance with a delay of a few days. If you want to increase the credit facility available on your card right away, you can raise the credit limit.

If you have paid down your credit card balance on or after the billing date shown in the bill, your payment was not taken into account in the bill. This is because the payment is not recorded in the credit card account immediately upon payment but with a delay of a few days.

If you have already paid the bill, you can ignore it. However, the bill is also your bank statement that lists the transactions for the billing period, which you should check. If you are using an e-invoice, you can delete the unnecessary invoice. If necessary, you can still find the e-invoice in the e-invoice archive and in My archive. You will continue to have e-invoice as your billing method, and you will receive your next bill as an e-invoice.

If you switch to a different card (for example, from OP-Visa Credit/Debit to OP-Visa Gold) and make a new agreement, the reference number for payments will also change. If you are using e-invoice, you need to make a new e-invoice order with the new reference number.

The easiest way to repay your credit by using the correct payment details is to use e-invoice, or go to OP-mobile and select the card - Bill - Repay credit.

 

Invoice content and transactions

See instructions for reading the invoice (coming later)

The invoice contains all transactions and payments made on the credit card account during the billing period. It is possible that any purchases you made just before the turn of the billing period will not show until the next bill. This is because the purchases are not recorded in the credit card account immediately but with a delay of a few days, depending on the payment data transfer schedules of the merchant. At the time of purchase, the bank makes a preauthorisation for the purchase in the credit card account, in other words, gives the merchant a permission to sell, but the preauthorisation is not yet shown in the bill as transaction.

Transactions are shown in the bill based on their original dates of purchase or transaction. The bill shows the official name of the payee, which may be completely different from the name by which the company is commonly known or from the name shown in the receipt.

The minimum payment shown in the bill and in the payment proposal of an e-invoice or direct payment includes the agreed monthly instalment and any overdue monthly instalments and excess of the credit limit.

For the K-Plussa Maksuaika card, the monthly instalment may also include a separate monthly instalment for a campaign purchase.

If there is a supplementary card attached to your account, or if you have received a new card with a new number, the bill will show all card transactions itemised by card number.

If you need not pay anything, the billed amount is 0 euros. If the bill shows a payable amount and the selected billing method is paper bill, a paper bill surcharge based on the list of charges and fees will be added to the bill. E-invoice and direct payment are free of charge.

A bill is generated whenever there are transactions or payments in the credit card account. Thus the bill may be just a bank statement of the payment you have made in the credit card account.

The bill shows the official name of the payee, which may be completely different from the name by which the company is commonly known or from the name shown in the receipt. The company’s domicile may also be different from the one shown in the receipt. You can, for example, make Google searches on the Internet by using the company’s official name to find the name of the payee.

The bill also shows the date on which the purchase was made. However, the bill does not state directly whether the purchase was made online or in store. Think whether you may have bought something somewhere on the day in question.

If you don’t recognise the transactions shown in the bill, please contact our Customer Service immediately. Outside the opening hours of the Customer Service, call OP Deactivation Service at 0100 0555 (local/mobile network rate, available 24/7) and deactivate your card immediately. After your card has been deactivated, you will get a new card and PIN within 1–2 weeks in the delivery method you selected.

One bill always includes the transactions of approximately four weeks. The billing period begins on the day after the billing date and ends on the next billing date.

The bill contains all transactions and payments recorded in the credit card account during the billing period. It is possible that purchases you made just before the turn of the billing period will not be recorded until the next bill. You can normally see transactions in the credit card account a few days after the actual transaction and the related preauthorisation.

The table below shows the due date options for a credit card bill, the billing date and the billing period, in other words, the period of transactions shown in the bill.

Due date (debiting date) Billing date Billing period (transactions for period)
7th 17th of the previous month 18th-17th
15th 24th of the previous month 25th-24th
23rd 1st of the current month 2nd-1st
Last day of the month 9th of the current month 10th-9th

If you want the transactions of one calendar month in a single bill, you should select the 23rd day of the month as the due date. In that case, the bill will be generated on the 1st day of the same month and it will show the transactions from the 2nd day of the previous month until the 1st day of the current month.

A monthly account service charge will apply if you have interest-bearing debt in your credit card account. The first credit card bill will never include either interest or account service charge. If the credit card’s total outstanding balance is not paid by the bill’s due date, then interest and an account service charge will be calculated on the balance after the due date and charged in the next bill.

 

E-invoice and direct payment

An e-invoice is a bill sent to your online or mobile bank in electronic format. Paying e-invoices is easy with a PC, tablet or smartphone. E-invoices are easy to use, flexible and secure, and have just one third of a paper bill’s carbon footprint.

The bill will arrive at least two weeks before its due date. You can choose when to pay the bill, from which account to pay it, and how much you will pay.

  • If you have a user ID for OP’s digital services, you can order your credit card bills as e-invoices on OP-mobile or the op.fi service.
  • If you don’t have a user ID for OP’s digital services, see your own bank’s instructions on how to start using e-invoices.

How to order an e-invoice on OP-mobile or the op.fi service:

1. First check the reference of your credit on OP-mobile, op.fi service or in your paper bill.
2. If you use OP-mobile, select Payments – E-invoices – Order and manage e-invoices.

3. Select Tilaa e-laskuja Order e-invoices
4. In the search field, type OP Vähittäisasiakkaat Oyj (OP Retail Customers plc)
5. Select the payee OP Retail Customers plc with Visa/Mastercard bill as the subject of invoice and tap Continue.
6. Enter your credit’s reference number.
7. Select payment account.
8. If you like, you can also have your bills automatically confirmed and paid on the due date. The payment settings you define will apply to all e-invoices of OP’s credit cards.
9. Select Tilaa e-lasku Order e-invoice.

If you use OP-mobile, you will get a notification of an incoming e-invoice by enabling notifications in the app’s settings. If you use the op.fi service, you can order a notification of an incoming e-invoice while ordering an e-invoice.

If you select automatic payment, remember to always check the transactions listed in the bill before the bill’s due date.

You can delete an incoming e-invoice if you have already paid it. You can still find the e-invoice in the e-invoice archive and in My archive. You will continue to have e-invoice as your billing method, and you will receive your next bill as an e-invoice.

In the op.fi service (in Finnish), you can delete an incoming e-invoice by selecting Muokkaa (Edit; a pen icon next to the invoice) – Poista maksu (Delete payment).

On OP-mobile, select the payment under either Confirmed or Unconfirmed payments - Delete payment.

Change the due date to a date of your choice, for example Today, and confirm the payment.

If you do not have access to online banking, direct payment is the easiest and safest way to pay bills. With direct payment, your bank will pay your bills for you on the due date. You will receive by letter a direct payment notification in which you can see the amount to be debited and the transactions on the card.

If you want to start using the direct payment option, call your own bank’s Customer Service to agree on this. Keep the latest bill close at hand to check the details needed for the payment.

If you have selected either automatic payment for your e-invoice or direct payment, the bank will try to debit the payment on the due date and on the following two banking days, in the morning and in the evening. If your account has insufficient funds for the payment, the payment will bounce, in other words, remain unpaid. The bounced payment will be shown for two weeks after the due date. You can’t edit the details of a bounced payment. Instead, you must make a new payment by using the same payment details.

 

Paper bill

If you made an e-invoice order after the billing date, you will not receive an e-invoice until the next billing period. The billing date is three weeks before the bill due date.

If you get even your next bill as a paper bill, check that your e-invoice orders include an order to the payee OP Retail Customers plc, that the subject of invoice is Visa/Mastercard invoice and that the reference is the reference shown in the billing details of your card.

OP-mobile: Reference: Accounts and cards - Select a card - Bill - Repay credit - Reference
Op.fi service (in Finnish): Reference: Rahat (tai Kortit) Money (or Cards) – Omat kortit My cards - Select a card – Laskutus Billing – Laskun viitenumero Reference number of bill

You can also delete the e-invoice order, make it again next day and check if your billing method changed into e-invoice. If necessary, contact us by chat (in Finnish), message us on OP’s service or call us.

Changes to the terms and conditions of Visa and Mastercard credit, and to service charges and fees, entered into force on 1 December 2021. One of the changes was that we will charge 3 euros for each paper bill sent for outstanding credit card balances on OP-Visa and OP-Mastercard.

Read more about the changes effective as of 1 December

The paper bill surcharge is a fee for the additional service of sending your credit card bill on paper. The options for receiving your bill free of charge include e-invoice and direct payment. The paper bill surcharge will apply if you receive a bill for outstanding credit card balance where the amount to be paid is larger than 0 euros. If you receive a so-called bank statement which only lists the transactions for the billing period but there is nothing payable, the paper bill surcharge will not apply. The paper bill surcharge will apply from the very first paper bill.

Start using e-invoices or direct payment. These are free-of-charge billing methods.

  • Switch to e-invoices if you use the online banking user identifiers of OP or another bank.
  • If you do not have the option of online banking, you can start using direct payment.

How to start using e-invoices – See instructions for: How do I order an e-invoice?
How to start using direct payment – See instructions for: What is direct payment and how can I start using it?

We recommend that you order your bill as e-invoice to ensure that your bills are always safe.

Regardless of the billing method, you can find a copy of your bill in My archive.

Go to My archive as follows:

OP-mobile: More - My profile - My archive, or
op.fi service (in Finnish): your name – Oma arkisto My archive

 

Due date and minimum monthly payments

Changes to the terms and conditions of Visa and Mastercard credit, and to service charges and fees, entered into force on 1 December 2021. One of the changes was the change in the minimum payment for OP-Visa credit. The minimum monthly payment for OP-Visa credit is 2% of the outstanding balance.

Read more about the changes effective as of 1 December

The table below shows the due date options for a credit card bill, the billing date and the billing period, in other words, the period of transactions shown in the bill.

Due date (debiting date) Billing date Billing period (transactions for period)
7th 17th of the previous month 18th-17th
15th 24th of the previous month 25th-24th
23rd 1st of the current month 2nd-1st
Last day of the month 9th of the current month 10th-9th

If you want the transactions of one calendar month in a single bill, you should select the 23rd day of the month as the due date. In that case, the bill will be generated on the 1st day of the same month and it will show the transactions from the 2nd day of the previous month until the 1st day of the current month.

You can change the due date in the op.fi service. You can change the due date of your credit card bill once every six months.

  • op.fi (in Finnish): Omat kortit My cards - Select card – Kortin ja luoton tiedot Card and credit details – Laskutus Billing – Laskun eräpäivä Bill due date – Muokkaa Edit

You have four options for the due date of your credit card bill: the 7th, 15th, 24th or the last day of the month. If you change the due date, the change will take effect from the next bill to be generated. Please note that the current billing period can be longer or shorter than usual due to the changed due date. If the due date falls on a weekend or public holiday, it will be postponed until the next business day.

If you don’t have a user ID for OP’s digital services, you can change the due date by chat (in Finnish) or by calling us.

The minimum payment is calculated as a percentage of the outstanding balance on the billing date. As the outstanding balance decreases, so will the minimum payment. However, the minimum payment will always be at least 30.00 euros or less if the outstanding balance is lower than the said amount.

When you receive the bill, you can decide whether to pay the agreed minimum payment, the entire outstanding balance or anything in between. If you pay less than the entire outstanding balance, then interest and an account service charge will be calculated on the remaining part after the due date.

You can change the minimum payment in the op.fi service (in Finnish). You can change your credit card’s minimum monthly payment every six months.

  • op.fi (in Finnish): Omat kortit My cards - Select card – Kortin ja luoton tiedot Card and credit details – Laskutus Billing – Luoton kuukausierä Minimum payment – Muokkaa Edit

As your credit card’s minimum monthly payment, you can select 3–100% of the outstanding balance on the billing date. The change will take effect from the next bill to be generated.

Minimum payment is the smallest possible amount that you must repay on the due date you’ve chosen. If you choose 100% of the outstanding balance as minimum payment, all payments you’ve made on credit will be debited on the due date. In such a case, you can’t repay a smaller amount but you have to pay the bill in full.

If you don’t have a user ID for OP’s digital services, you can change the minimum payment by chat (in Finnish) or by calling us.

 

Interest

Purchases paid with a credit card or the credit feature of a combination card will be interest-free until the first due date. In other words, if you pay the entire outstanding balance on the due date, you will not have to pay any interest or account service charge. The interest-free period is 35 days on average. If you make a purchase just before the billing date, the interest-free period will be from at least 21 days up to almost 50 days.

If the credit card account has outstanding balance after the due date, then interest and account service charge will be calculated on the balance and charged in the next bill. The amount of interest depends on the amount of interest-bearing debt and the number of days to which interest applies.

If you pay with credit and interest is charged, the interest rate is the 3-month Euribor + 8.95%, plus a monthly account service charge of €3.50.

The interest is always charged afterwards. After the interest-bearing debt has been paid off, the interest up to the payment date will be charged in the next bill. If only interest is charged in the bill, there will be no account service charge. 

Example 1: If you pay a purchase of €599 using your card’s credit feature and repay it in instalments of €50/month, there will be a total of 14 instalments. For this period, you will pay a total cost of €73.37, which includes interest of €27.87 and account service charges of €45.50.

Example 2: If you pay a purchase of €599 using your card’s credit feature and repay it in six identical instalments, the instalment will be €104.60/month. For this period, you will pay a total cost of €28.62, which includes interest of €11.12 and account service charges of €17.50.

Purchases paid with a credit card will be interest-free until the due date of the next bill. If you decide to pay only part of the bill, then interest and an account service charge on the remaining debt will be charged in the next bill.

Interest accruing between the billing date and the due date is not included in the outstanding balance. Therefore, if you have paid down your credit in instalments and now pay off the outstanding balance in full, the interest accrued up to the payment date will be charged in the next bill. If the bill includes only interest, no account service charge will be charged.

The effective interest rate is a tool for comparing the cost of credit when applying for credit. If does not reflect the actual costs that you will incur, including a possible monthly charge for the card, account service fee and credit interest rate, which are charged only if you have interest-bearing outstanding balance on your credit card. The effective interest rate calculation ignores the fact that a credit card is intended for continuous use and that you can pay down your outstanding balance whenever you wish.

You will be informed of the effective interest rate when you apply for credit. Besides interest, the effective interest rate includes all other costs of credit.

The effective interest rate is calculated based on the assumption that the entire credit is drawn down at the same time, the card’s monthly charge is 2.95 euros and the monthly account service charge 3.50 euros, and the credit is repaid in 12 identical monthly instalments.

For example, the card’s monthly charge is lower for owner-customers than stated in the calculation for effective interest rate, because the monthly charge is included in the owner-customer’s daily service package. In addition, the monthly charge is paid primarily using OP bonuses.

Below you can find examples of the effective interest rate calculated for the OP-Visa Credit/Debit card:

The effective interest rate calculated for used credit of EUR 2,000 is 14.63% (6/2021) if the customer has a daily service package. The estimated total amount payable would be EUR 2,145.70.

The effective interest rate calculated for used credit of EUR 2,000 is 15.07% (6/2021) if the customer has no daily service package. The estimated total amount payable would be 2,156.15 euros.

You can find a valid list of service charges and fees at op.fi/hinnasto.

 

Other information

You cannot directly pay bills by using your credit card, but you can transfer credit to your bank account and then pay the bill from your account.

How to transfer credit:

  • OP-mobile – Select a card - Bill - Transfer credit to your account, or use the My transfer function
  • op.fi (in Finnish) – Omat kortit My cards – Select a card – Siirrä luottoa tilille tai Siirto omalle tilille Transfer credit to your account, or use the Transfer to own account function

Transfers are subject to a charge in accordance with the list of charges and fees. You can find the valid list of charges and fees at op.fi/hinnasto.

OP Retail Customers plc issues and manages OP’s payment and credit cards.

OP Retail Customers plc operated under the name of OP Card Company Plc until 1 June 2020. Other details, such as the account number, remained unchanged. Customers were informed of the change of terms and conditions two months before it became effective by message on OP's service or by letter.