Missed instalment repayments on Zip Money do not make the account fall into arrears, only if the flex contractual minimum monthly repayment is also not paid by the payment due date.
If the instalment(s) repayment is missed the customer has 15 days to make the catch up repayment, or the instalment plan will be cancelled.
The system will automatically retry the missed instalment repayment on day 7 and day 14.
Without instalments, customers can repay at their own pace by setting a scheduled amount and frequency via the 'Flex schedule' option.
Note: Interest charges may apply if there is a balance remaining on a purchase outside of the interest free period. The standard interest rate as mentioned in the account contract will apply to the remaining balance, interest is accrued daily and charged at the end of the month.
Updated on 31/03/2025