Zip Pay repayments are automatically direct debited from the payment method that you added when you created the account.
You can change the frequency of your payments to weekly, fortnightly or monthly, as long as you pay minimum $40 per month (or $80 if your credit limit is $1500). Choose what works best for you!
For more flexibility with your repayments, we have the following options:
Custom schedule: You can change the frequency of your payments to weekly, fortnightly or monthly.
Smart schedule: Zip will personalise your schedule based on spending behaviour and repayment habits.
Fee waiver schedule: We’ll automatically adjust your schedule to pay off your balance each month so that you don't have to pay the $6 monthly account fee.
Alternatively, you can choose to pay off any of your purchases before their 'due date'. Any purchases you make during the month are due at the end of the next month.
For example: If you make two purchases in February, on the 1st of March, we will send you a statement showing your owing balance. You'll then have until March 31st to pay the balance off without being charged the $6 account service fee.
If you'd prefer to take extra time to pay off your balance, no worries! You'll only need to make the monthly minimum of $40, and a $6 account service fee will be added to your balance for the following month.
If you don't have a balance, we won't deduct anything from your nominated payment method. The repayments simply cease until you make your next purchase. The best part is - if there's no balance, there are no fees to keep the account open!