We offer two consumer products for our customers: Zip Money and Zip Pay.
You can use any Zip account at any Zip retailer and you can use our Shop Everywhere feature at any online retailer!
 |
 |
|
|---|---|---|
| Reusable | Yes | Yes |
| In-Store and Online | Yes | Yes |
| Minimum Repayment Amount |
$40 minimum monthly repayment (or $80 if the credit limit is greater than $1,500) |
From $40 per month, determined according to the credit limit of the account OR 3% of the outstanding balance, whichever is greater. The higher the credit limit, the higher the minimum monthly repayment may be |
| Credit Limits Available |
$350 - $1,000 (some eligible accounts can increase to $2,000) |
From $1,000 - $5,000 directly, or apply through a merchant for accounts greater than $5,000 |
| Fees |
No establishment fee, $7.95 monthly account fee (when a balance is owing, which is waived if you pay the statement balance by the due date.) |
Establishment fee based on credit limit from $0-$99, $7.95 monthly account fee (when a balance is owing at the end of the month) |
| Interest | Never! |
Guaranteed 0% interest for 3 months, but partners may offer promotional interest-free periods ranging from 6 months to 60 months. Interest at 19.9% p.a after the interest-free period expires |
| Pay bills With Zip | Available | Available |
| Direct Debit payment method | Either credit or debit card | Debit card or bank account details |
| Shop Everywhere Single-Use Card | Available | Available (for non-exclusive accounts) |
|
Reusable |
Yes |
Yes |
|
In-Store and Online |
Yes |
Yes |
|
Minimum Repayment Amount |
$40 minimum monthly repayment (or $80 if the credit limit is greater than $1,500) |
From $40 per month, determined according to the credit limit of the account OR 3% of the outstanding balance, whichever is greater. The higher the credit limit, the higher the minimum monthly repayment may be |
|
Credit Limits Available |
$350 - $1,000 (some eligible accounts can increase to $2,000) |
From $1,000 - $5,000 directly, or apply through a merchant for accounts greater than $5,000 |
|
Fees |
No establishment fee, $7.95 monthly account fee (when a balance is owing, which is waived if you pay the statement balance by the due date.) |
Establishment fee based on credit limit from $0-$99, $7.95 monthly account fee (when a balance is owing at the end of the month) |
|
Interest |
Never! |
Guaranteed 0% interest for 3 months, but partners may offer promotional interest-free periods ranging from 6 months to 60 months. Interest at 19.9% p.a after the interest-free period expires* |
|
Pay bills With Zip |
Available |
Available |
|
Direct Debit payment method |
Either credit or debit card |
Debit card or bank account details |
|
Shop Everywhere Single-Use Card |
Available |
Available (for non-exclusive accounts) |
|
TAP & ZIP |
Available - Instore only |
Not available for Zip Money customers |
*Minimum monthly repayments are required. Paying only the minimum monthly repayment amount will generally not repay the purchase within the interest free period. Any balance outstanding at the expiry of the interest free period will be charged at the standard variable rate, 21.9% per annum as at 1 July 22 and is subject to change.
Zip Pay is an interest-free online shopping wallet with a credit limit of up to $1000, offering you the ability to buy now and pay later, on your terms. Repayments start from as little as $10 a week.
Zip Money is a line of credit with credit limits over $1,000.
This product offers consumers:
- a line of credit of up to $5,000 for regular accounts and up to $50,000 for specific merchants.
- a guaranteed interest-free period of 3 months across all products and up to 36 months with some retailers.
Zip Money accounts incur a $7.95 monthly account fee when there is an outstanding balance at the end of each month as well as a one-off establishment fee for certain credit limits.
To apply for a Zip Money account greater than $5,000, please consult the merchant you would like to purchase with or apply here.
Wondering which merchants offer Zip? Take a look at our store directory here.