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Zip Money
Interest rate (p.a.)
Min. loan amount
Max. loan amount


Borrow from $1,000 up to $5,000 with Zip Money and get a minimum of three interest-free months.

With Zip Money, you can pay for purchases without cash or a credit card at any participating Zip merchant. Once your purchase has been authorised, Zip will pay the merchant on your behalf. When you sign up, an initial line of credit of up to $3,000 will be immediately made available to you. You could apply for a credit limit of up to $5,000. The interest-free period is a minimum of three months, but you could receive a longer interest-free period. After the interest-free period expires, you’ll be charged 25.9% p.a. on your outstanding balance.


  • Real-time approval
  • Account management features
  • Interest-free period


  • Late fees apply

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question


Product details

Product Name Zip Money
Interest rate (p.a.) 25.9%
Interest rate type Variable
Min. loan amount $1,000
Max. loan amount $5,000

How does Zip Money work?

You can sign up for a Zip Money account online or in-store. The application takes about three minutes and requires your residential, employment and financial information as well as your email address and phone number.

When you apply, you'll need to select from these credit limit tiers:

Credit limitMinimum repaymentEstablishment fee
$3,000$80 or 3% (whichever is greater)$49
$4,000$80 or 3% (whichever is greater)$75
$5,000 - $30,000$80 or 3% (whichever is greater)$99

If you are approved for an account you will be sent a contract which will indicate the interest-free period you will receive. All Zip Money accounts come with a minimum of three months interest free but some come with longer periods. If you don't have an order attached to your application then this period will not be stated: it is only when you make a purchase that the interest-free period will begin.

Once you agree to the contract and provide your payment information, you can use and manage your account. Each purchase you make with your new account must be authorised by both you and Zip. After your purchase is authorised, Zip will pay the merchant on your behalf.

How do I repay with Zip Money?

Once you've used your Zip Money credit to make a purchase, you need to set up your repayments to be monthly, fortnightly or weekly. Zip Money will then automatically direct debit those repayments according to your chosen frequency and based on the minimum repayment. You can also make additional repayments whenever you like.

Keep in mind you can only use a debit card or bank account to repay Zip Money.

Once your credit is repaid you can keep your account open. You won't be charged anything if your balance is $0.

Features of shopping with Zip Money

  • Real-time approval. Signing up is quick and easy, enabling you to complete the entire process, including getting a real-time approval decision, in just a few minutes and even while checking out at a store.
  • Interest-free period. Zip Money offers an interest-free period on all Zip Money transactions, after which your outstanding balance will be subject to the standard annual percentage rate (currently 25.9%.)
  • Flexible repayment plans. Zip Money offers flexible repayments as long as you’re meeting the minimum monthly payment outlined above.
  • Automatic deductions. Direct debit is an extra feature of Zip Money, allowing automatic deductions to be made directly from your bank account.
  • Borrow what you need. Unlike lump-sum loans disbursed upfront, with Zip Money you only borrow what you need to make a purchase.
  • Account management features. Change your repayment amount or payment dates in your convenient online account.

See the full list of stores with Zip Money

How much will this cost me?

  • Interest rate. After the interest-free period expires, you’ll be charged the standard annual percentage rate (APR) on your outstanding balance. This is a variable rate that currently stands at 25.9%
  • Minimum monthly repayment. The minimum monthly repayment for your credit limit differs by tier and is outlined above.
  • Monthly account management fee. There is a monthly fee of $9.95 charged any month that you have an outstanding balance.
  • Establishment fee. While signing up and activating your account, you may or may not be charged a one-off establishment fee. If charged, the amount will be debited to your account and paid back over time.
  • Late fees. If you don’t make your repayments on time or if you dishonour your repayments altogether, Zip Money reserves the right to levy additional fees and charges to your account. The amount may vary so refer to your contract for details.

How do I sign up with Zip Money?

Signing up with Zip Money is quick and easy. Visit the Zip Money sign-up page and complete the application process to get a real-time decision. The entire process usually takes no more than five minutes.

To qualify, you need to:

  • Be an Australian resident over 18 years of age
  • Be able to enter into a legally binding contract
  • Have a valid bank account

While signing up, you need some personal identifying information as well as your bank account details to link it to your Zip Money account. Once signed up, you’ll instantly receive a decision and, once approved, you’ll activate your new Zip Money account by simply accepting the terms and conditions and entering the SMS code that was sent to the mobile phone number you registered with.

Should you offer Zip Money (for store owners)?

As a business owner, offering Zip Money or any other interest-free payment service as an option at checkout (both online and in-store) can have a range of benefits, as well as a potential few drawbacks.


  • Higher conversion rate. Ease the transition from browser to buyer.
  • Higher purchase rate. Empower your customers to make additional purchasing decisions.
  • Increased customer base. Widen the net and appeal to a larger customer base who otherwise may not have been able to afford your products. You also have access to Zip's 2 million customer base.
  • Increased sales. Businesses that currently accept Zip have seen a 30%+ increase in sales volume.
  • Risk-free. Because Zip is covered for credit fraud, you're guaranteed payment after a transaction goes through from a customer.
  • Same-day settlement. Zip makes a point to have every transaction that has gone through your business settled by 4pm the same day.


  • Fees. You'll be charged a 15 cent transaction fee per transaction.
  • Commission. This rate varies from 2-4% and is dependent on your merchant agreement.

Have more questions about Zip Money?

Is Zip Money safe?

Zip Money uses 128-bit Secure Socket Layer (SSL) data encryption to protect all your information and financial transactions. 128-bit SSL encryption is the same technology used by banks all over the world.

How do I manage my account?

Once you’ve created your Zip Money account, you’re able to login and manage many aspects of your account including increasing or decreasing deducted repayment amounts, adding or modifying payment methods, tracking transaction activity, scheduling new repayment periods, accessing previous statements, viewing updated Zip merchant lists and more.

Am I eligible if I have bad credit?

Zip Money uses a range of data to determine whether or not you can afford a payment plan. Bad credit doesn’t automatically disqualify you, but you will only be approved if you are in a good financial position. Note your credit history will be checked.

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Elizabeth Finder

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August 30, 2023

Can I use zip money to pay for mechanical repairs to my car at Launceston mitsubishi in Tasmania?


Richard Whitten Finder

September 01, 2023

You will need to check with Launceston Mitsubishi and see if they accept Zip Money.



October 27, 2019

I was wondering if you can use Zipmoney for a car.


Joshua Finder

October 28, 2019

Hi Wombat,

Thanks for getting in touch with Finder. I hope all is well with you. 😃

I’m afraid Zipmoney financing isn’t enough to pay for a car. According to our complete list of Zip Money stores, there is no car dealer offering this payment method.

You might want to consider buying a car using a car loan or a personal loan. Our guide will provide you a side-by-side comparison between these 2 types of financing and a comparison table you can use to help you find the lender that suits you.

I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

Have a wonderful day!



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October 04, 2019

I am just wondering how long it takes to be approved for Zip money? I applied yesterday and I haven’t heard anything back yet, I have no worries about getting approved, I’m sure I will be since I have a great credit rating and have never been in debt or late with my bills.


Nikki Angco

October 06, 2019

Hi Trudie,

Thanks for your message. As it says on or our page, signing up with Zip Money is quick and easy. The application takes about three minutes and requires your residential, employment and financial information as well as your email address and phone number. If you are approved for an account you will be sent a contract which will indicate the interest-free period you will receive. Please check your email for the contract, otherwise, contact ZipMoney for a follow up.

Hope this helps and feel free to reach out to us again for further assistance.



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August 16, 2019

Is there an early pay out fee?

For example lets say I get $3000 and I pay that back in a month am I only paying the amount borrowed plus the establishment fee and first monthly fee?


Nikki Angco

August 17, 2019

Hi Matt,

Thanks for getting in touch! ZipMoney doesn’t have early repayment penalties. You can make additional payments at any time. Just be aware that additional payments won’t stop or replace your scheduled payments unless you manually change your payment schedule.

If you are looking to pay your balance in full, simply change your payment schedule manually. Hope this helps. Feel free to reach out to us again for further assistance.



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June 04, 2019

How to maintain interest free on balances when several purchases have different terms of interest free periods? How are the repayments used to offset balances on various purchases? Do they trick you with interest charges?


Jeni Finder

June 05, 2019

Hi Jet,

Thank you for getting in touch with Finder.

You must pay us the Minimum Repayment Amount shown on your statement by the Due Date that is also shown on your statement. You may choose to pay more if you wish but you must not put the balance in your account in to Credit. They will apply your repayments to your Unpaid Balance. If you need further info on repayments with Zip Money please contact them directly.

I hope this helps.

Thank you and have a wonderful day!



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