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.
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.
The interest rate is 19.9% per annum.