When you activate your Zip Money account, your repayment schedule is automatically set to cover your minimum monthly repayment, this is determined by your credit limit and is outlined in your contract and on your statement.
If your credit limit is $1,000 or below your minimum monthly repayment is $40. If your credit limit is $2,000 the minimum monthly repayment is $80, the minimum monthly repayment generally increase the higher your credit limit is to help you repay your owing balance faster with less interest over time. Please refer to your contract or statement or see the guidance table below.
You can change the frequency of your repayments to weekly, fortnightly or monthly. Choose what works best for you! Please note, if your minimum monthly repayment changes your schedule will not increase automatically.
To change your flex schedule, start by logging into your Zip Money account using the Zip App, or sign-in via a web browser.
Once you've logged in:
- Select the HOME tab.
- Select your account tile.
- Select MANAGE FLEX
- Select the frequency (weekly, fortnightly, or monthly).
- Select the date you wish to have the schedule run.
- Enter the amount you wish to pay. Please Note: You cannot reduce the schedule below your contracted minimum amount.
- Select SAVE.
The minimum monthly repayment that you are required to pay does NOT take into consideration any interest-free periods listed for each order.