When you open your Zip Pay account, your repayment schedule is automatically set to cover your minimum monthly repayment (MMP).
Your minimum monthly repayments for Zip Pay are based on your credit limit. If you have a credit limit of $1000 or below, your minimum monthly repayment is $40. If your credit limit is over $1000 your minimum monthly repayment is $80.
Zip Pay customers can select from two different schedule types.
Choose your repayment frequency: You can change the frequency of your repayments to weekly, fortnightly or monthly. Choose what works best for you!
Fee waiver: We’ll automatically adjust your repayment schedule to repay your entire closing balance each month ensuring you avoid paying the monthly account fee.
Once logged in follow these easy steps or see here if you are on a mobile browser:
- Select the 'Home' tab located at the bottom of the app screen.
- Select your Zip Pay account.
- Tap on 'Edit Repayments'.
- Select the preferred schedule type (Choose your repayments or Fee Waiver).
- Review and adjust your schedule to suit your preference.
- Select continue and then confirm.
Please Note: You cannot reduce your repayment schedule amount to be less than your contractual minimum monthly requirement.
If you are having trouble making the minimum monthly repayment towards your account, please read Having trouble making your monthly repayments?