We offer two consumer products for our customers: Zip Money and Zip Pay. Both products feature our Single-Use card. You can use any Zip account at any Zip retailer, additionally, you can use our Shop Everywhere feature at any online retailer!
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|---|---|---|
| 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 the customer pays 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 |
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.
Zip Money offers customers 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.
A complete overview of our fees and charges can be found here.
Wondering which merchants offer Zip? Take a look at our store directory here.