The fees for Zip customers can vary depending on the account type and the credit limit approved.
Below is a simple breakdown of the fees for each account type:
Zip Pay
No establishment fee
$7.95 monthly account fee when a balance is owing
This account fee is waived if you have paid your statement balance by the due date.
$40 minimum monthly repayment (or $80 if the credit limit is greater than $1,500)
No interest, ever
Zip Money
$0 - $99 establishment fee dependent on the approved credit limit
$7.95 monthly account fee,
This account fee is waived when there is nothing owing at the end of the month.
Minimum monthly repayment from $40 is dependent on the approved credit limit OR 3% of the outstanding balance, whichever is greater.
Interest at 19.9% per annum (21.9% per annum as at 1 July 2022) charged monthly on the balance owing after the interest-free period of an order has passed. To see more information about interest-free periods click here
Other fees may apply, such as an Instalment Fee, if you choose to extend the interest-free period of an instalment plan.*
Zip Pay: Minimum monthly repayments are required. A monthly account fee of $7.95 applies. This fee is waived each month you pay your statement closing balance, in full, by the due date. Available to approved applicants only. T&Cs apply.
Zip Money: Available to approved applicants only. Instalment plan splits eligible purchases of $300 and above into equal repayments within the interest free period. A monthly account fee of $7.95 applies and a one off establishment fee that may apply for new customers. Under the contract, minimum monthly repayments are required. Paying only the minimum monthly repayment amount will generally not repay out 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 2022 and is 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).