Your statement will be issued via email at the end of each month. In your statement, you'll find information on the following:
- Credit limit: The total amount that you were approved for initially.
- Your Opening balance: The total amount you owe at the start of the statement period.
- Debited: Your orders, fees or interest charges for the month. Anything that has decreased your available credit.
- Credited: Your repayments, direct debits, one-off payments or refunds for the month. Anything that has increased your available credit.
- 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 by which you need to make the minimum monthly repayment.
- Custom schedule minimum repayment: The minimum amount you need to pay back each statement month, before your contractual date.
- Total scheduled repayments: The total amount you can expect to run via direct debit in the next statement period.
On Zip Money, if you have instalments set up, the total scheduled repayment amount will show your Instalment payments for any orders over $300. - Monthly Account Service Fee: Applied only if you have a balance owing at the end of the month.
Your Zip Money account statement will also outline:
- Standard variable rate: Your annual (yearly) interest rate
- Interest-free balance: The portion of your owing balance that is within the interest-free period and which is not accruing interest.