One-off Establishment Fee
Depending on the credit limit you apply for, a one-off establishment fee may apply. This fee will be communicated to you in your contract and will be applied to your account upon completion of your first purchase.
Monthly Account Fee
If you have an outstanding amount owing on your Zip Money account, you will be charged a monthly account fee of $9.95 which will be added to your balance at the start of the following month.
If you pay the owing balance on your account by the end of the calendar month, this fee will be waived.
When does Interest apply to my balance?
Every transaction with Zip Money has a guaranteed 3 months interest free period**. The interest free period is determined by the partnered retailer you shop with. Any remaining balance after the interest free period has ended will begin to accrue interest at a rate of 25.9% per annum.
If you pay off your purchases within the interest free period, you will avoid incurring any interest charges.
Instalments is a feature offered within your Zip Money account to help you avoid paying interest on your purchases. See here for more on our instalments feature.
On select purchases you can choose to extend your 3-month interest-free period to 6, 12, or 18 months via instalments (here for more details). An instalment fee applies when you opt to extend the interest free period on one of your eligible Zip Money purchases.
An instalment fee of 1.1% of the total transaction value will be payable for each extension month, but will not include the default interest free period months. The fee will then be split equally across all instalments for this purchase. Please see here for more details.
A late fee of $15 for Zip Money will be charged 21 days after your contractual due date.
*The monthly account fee for Zip Money accounts with credit limits of $1,000 and above will increase to $9.95 as of 31 July 2023.
**Available to approved applicants only and subject to completion of 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 $9.95 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, 25.9% per annum as at 1 May 2023. Other charges may be payable, see T&Cs. Interest, fees and charges 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).