Yes, if you have a valid credit card added to your account.

With extended rental you can have a bike for 3 hours, in addition to the included 60 minutes. After 60 minutes it costs 15 NOK per 15 minutes.

With a 3-day pass you get 180 minutes included.

Does the money get drawn from my account automatically?

Yes, if you have a valid credit card connected to your account. You'll always have a good overview of how long you've been out riding and when extended rental starts in the app.