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!
|In-Store and Online||Yes||Yes|
|Minimum Repayment Amount||
$40 minimum monthly repayment (or $80 if the credit limit is $1,500 or greater)
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|
For accounts with:
Credit limits of $1,000 or less:
Credit Limits of $1,001 or more:
All Zip Pay accounts: If you don't pay your minimum monthly payment (or the remaining balance if it is less), a late fee of $5 will be charged 21 days after your contractual 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)
‘Pay a bill with BPAY’ (a fixed $2.50 processing fee applies for each bill)
If you don't pay the minimum payment each month (or the remaining balance if less), a late fee of $15 for Zip Money will be charged 21 days after your contractual due date.
Guaranteed interest free** for 3 months*, but partners may offer promotional interest-free periods ranging from 6 months to 60 months. Interest at 23.9% per annum*** 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 to Pay
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.
- 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.
*Minimum monthly repayments are required. A monthly account fee of $7.95 applies and is subject to change. Pay your closing balance in full by the due date each month and we’ll waive the fee. Available to approved applicants only and subject to completion of a satisfactory credit check. Other charges may be payable. T&Cs apply.
***Available to approved applicants only and subject to completion of a satisfactory credit check. Minimum monthly repayments are required. Paying only the minimum monthly repayment amount will generally not repay the purchase within the interest free period. A monthly account fee of $7.95 will also apply and a one-off establishment fee may apply for new customers. Any balance outstanding at the expiry of the interest free period will be charged at the standard variable rate, 23.9% per annum as at 1 December 2022. Other charges may be payable, see T&Cs. Interest, fees and charges are subject to change. Terms & Conditions apply and are available on application. See your contract for further details. Credit provided by ZipMoney Payments Pty Ltd (ABN 58 164 440 993), Australian Credit Licence Number 441878).