One-off establishment fee
Depending on the credit limit you apply for, there may be a one-off establishment fee added. This fee is applied to your account after the completion of your first order.
Monthly account fee
When you do have a balance owing, a $7.95 monthly account fee will be added to your balance at the start of the following month.
Every transaction with Zip Money has a guaranteed 3 months interest free period*. The interest free period is determined by the merchant you shop with.
When is the monthly fee applied?
The $7.95 monthly account fee will be added to your balance at the start of the month if you do have a balance owing. This account fee is waived if you have paid your statement balance by the due date.
How to avoid paying interest?
Every order on your Zip Money account has its own interest free period. If the order is paid in full before the interest free period finishes, you will not incur any interest on the order. If the interest free period has ended and you have not paid off the order, you will incur interest on the remaining balance at a rate of 23.9% per annum**.
**Any balance outstanding at the expiry of the interest free period will be charged at the applicable variable rate. For Customers who acquired an account before 1 December 2022, the applicable standard variable rate is 23.9% per annum. For Customers who acquired an account from 1 December 2022, the applicable variable rate is 21.9% per annum. The applicable interest rate is subject to change.”