zipMoney interest-free payments

Rates and Fees verified correct on May 1st, 2017

With zipMoney you can buy now and pay later on your own terms.

zipMoney is a simple and convenient way to help you pay for things without needing the cash upfront or a credit card. When you sign up and are approved with zipMoney, you’ll receive an initial line of credit that’s immediately made available to you.

You’re then able to use zipMoney during the checkout process of any participating zip merchant. In addition, you have a default three-month window where you’re able to make repayments completely interest free.

Not what you're after? Find out about zipPay

How does zipMoney work?

Once your zipMoney account and line of credit are approved, you can immediately begin making purchases at any retailer accepting zipMoney (look for the “ZIP” logo during checkout). Each purchase you make with your new account must be authorised by both you and zipMoney. After your purchase is authorised, zipMoney will pay the merchant on your behalf.


With zipMoney, you have the flexibility to choose to pay back your borrowed amount within 3, 6 or 12 months. By default, your repayments are completely interest-free during the first three months after which the standard APR rate will be charged on your outstanding balance. For repayments, zipMoney will make automatic deductions from your linked debit card or bank account card every month. You can choose to increase or decrease your monthly repayments as long as you’re making the minimum required monthly payment.

Features of shopping with zipMoney

  • 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.
  • Three-month interest-free period.zipMoney offers an interest-free period of three months on all zipMoney transactions, after which your outstanding balance will be subject to the standard APR (currently 23.9%).
  • Flexible repayment plans. zipMoney offers flexible repayments as long as you’re meeting the minimum monthly payment required (3% of outstanding balance or the agreed minimum payment set in your particular contract, whichever is greater).
  • Automatic deductions. Direct debit is an extra feature of zipMoney, allowing automatic deductions to be made directly from your bank account.
  • Borrow only what you need. Unlike lump-sum loans disbursed upfront, with zipMoney you only borrow what you need, never worrying about taking out too much or too little.
  • Simple yet powerful account management features. Change your repayment amount or payment dates in your convenient online account.

See the full list of stores with zipMoney

How much will this cost me?

  • Interest rate. After the three-month 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 around 23.9%.
  • Minimum monthly repayment. The minimum monthly repayment amount is either 3% of your outstanding balance or the minimum payment amount specifically stipulated in your contract (usually $40.00), whichever is higher.
  • Monthly account management fee. zipMoney reserves the right to charge a monthly fee of $4.95 for 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, then zipMoney 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 zipMoney?

Signing up with zipMoney is quick and easy. Visit the zipMoney 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 zipMoney account. Once signed up, you’ll instantly receive a decision and, once approved, you’ll activate your new zipMoney account by simply accepting the terms & conditions and entering the SMS code that would be sent to the mobile phone number you registered with.

Have more questions about zipMoney?

Is zipMoney safe?

ZipMoney 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 zipMoney 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?

zipMoney 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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