Your statement will be issued via email at the end of each month. In your statement, you'll find information on:
- Your Opening balance: The total amount you owe at the start of the statement period.
- Your Closing balance: The total amount you owe at the end of the statement period, pay this balance & we'll waive the monthly account fee.
- Repayment due date: The date that you need to make the minimum monthly repayment.
- Minimum repayment: The minimum amount per month you need to pay before your repayment due date.
- Fees: Any fees that have been applied to your account, including your monthly account service fee, late fees etc.
Your Zip Money account statement will also outline:
- Interest-free balance: The portion of your outstanding balance that is within the interest-free period and not accruing interest.
- Standard annual percentage rate: The interest rate* that applies after your interest-free period ends (this will depend on the retailer you purchased from).
*As of 1 July 2022, any balance outstanding at the expiry of the interest-free period will be charged at the standard variable rate, 21.9% per annum and is subject to change.
- Fees: Any fees that have been applied to your account, including monthly fees, interest, late fees etc.