‘Fly Now, Pay Later’: Is this travel scheme risk-free? Not always, say UAE travel experts

Gulf News

Are you planning a last-minute vacation but don’t have enough savings to fund the trip? ‘Fly Now, Pay Later’ plans, offered by airlines across the world, can help you make a stringent travel budget more flexible by giving you extra time to gather the savings needed for the trip.  Read the full story here: https://gulfnews.com/your-money/budget-living/fly-now-pay-later-is-this-travel-scheme-risk-free-not-always-say-uae-travel-experts-1.1694185646350  See more videos at https://gulfnews.com/videos Read more Gulf News stories here: https://bit.ly/2HLJ2km  Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV  #UAEnews #travel #money

Transcript

00:00Are you planning a last-minute vacation but don't have enough savings to fund your trip?

00:14With FlyNow Pay Later travel schemes, you can book your tickets and hotel reservations

00:19and pay for them later.

00:21If you end up paying on time, you will also be charged zero interest and you can save

00:25in the process.

00:26But are these truly cost-effective and risk-free?

00:29Not really, says a UAE travel expert, saying that it can sometimes do you more harm than

00:33good.

00:35Apart from confusing terms, challenges in resolving disputes, and strict requirements,

00:41you may also carry on more debt because you will be charged higher when you can't pay

00:45on time.

00:46Apart from that, there are also mandatory requirements like auto-pay, which will be

00:50difficult if you have insufficient funds in your account.

00:54Also upfront payments are non-refundable.

00:57So if you change your plans or cancel your trip, you won't get back to your deposit

01:02and you can also be penalized.

01:04So when you're making use of these travel schemes, keep these risks in mind.

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