zipMoney interest-free payments

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 of up to $3,000 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

Product NameZipmoney
Interest Rate (p.a.) From 19.9% (variable)
Comparison Rate (p.a.)
Interest Rate TypeVariable
Min Loan Amount$1,000
Max. Loan Amount$30,000
Loan SecurityUnsecured

Pros

  • Convenient line of credit for purchases
  • No interest for 3 months

Cons

  • High interest rate
  • Only available at certain merchants

How does zipMoney work?

You can sign up for a zipMoney 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 will need to select from one of three credit limit tiers:

Credit limitMinimum repaymentEstablishment fee
$1,000$40$0
$2,000$40$25
$3,000$80$49
$4,000$80$75
$5,000 - $30,000$500 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 zipMoney accounts come with a minimum 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 period when you apply.

Once you agree to the contract and provide your payment information, you can now use and manage your account. 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.

How do I repay with zipMoney?

Once you've used your zipMoney credit to make a purchase, you need to set up your repayments to be monthly, fortnightly or weekly. zipMoney 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 with zipMoney.

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 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.
  • Interest-free period.zipMoney offers an interest-free period on all zipMoney transactions, after which your outstanding balance will be subject to the standard APR (currently 19.9% p.a.).
  • Flexible repayment plans. zipMoney offers flexible repayments as long as you’re meeting the minimum monthly payment required outlined above.
  • 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 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 19.9% p.a.
  • 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 $6 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, 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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26 Responses

  1. Default Gravatar
    JackApril 6, 2018

    Hi,

    I just recently approved and my limit about $2000. My understanding is that $2000 this is not the money that I borrow, but just a limitation not to spend or exceed more than that?

    And additional question is,
    – No repayment to zip money until not buying anything? and
    – Repayment only apply if I purchase stuff online?
    – I only pay as per how much I spend + interest (or interest free) e.g. If I spend $600, my repayment $600+interest? if promotional apply, $600 no interest Free?
    – If I payoff early, any penalties? which is in my account there is an option add on by using B-Pay?

    I would appreciate your response

    Thanks
    j

    • Staff
      MayApril 6, 2018Staff

      Hi Jack,

      Thank you for your questions.

      1. $2000 this is not the money that I borrow, but just a limitation not to spend or exceed more than that?
      If you’re approved for zipMoney account, they will give you a “credit limit” that you can use for your purchases. For instance you’ll buy an item say worth $1,000, your $2,000 credit limit will be deducted by this amount and that $1,000 you’ve used for spending (buying the item) is the total amount you owe from zipMoney + interest if applicable.

      2. No repayment to zip money until not buying anything and Repayment only apply if I purchase stuff online?
      If you will not use your account/credit limit, you won’t be charged by zipMoney. You can actually manage and use your account at any zipMoney affiliated merchant both online and in-store! For repayments, you can start as little as $40 a month. This is your minimum monthly repayment although zipMoney will confirm the exact amount before registering your account. The minimum repayment amount is also dependent upon the account’s credit limit not where you have bought your purchases.

      3. I only pay as per how much I spend + interest (or interest free) e.g. If I spend $600, my repayment $600+interest? if promotional apply, $600 no interest Free?
      Every purchase you make using your account has a minimum interest free period of 3 months from the date of each transaction. If you repay the purchase amount within this period, no interest is charged. Should an account remain outstanding at the end of 3-month period, interest will be charged at the Standard Annual Percentage Rate – which will be indicated in your contract.

      Some purchases may have a promotional interest free period (such as 6 or 12 months interest free). If this is the case, you will be advised at the time of the purchase and the promotional interest free period will apply to that particular purchase.

      4. If I payoff early, any penalties? which is in my account there is an option add on by using B-Pay?
      When you make a payment, just select PAY BY BPAY. There is no penalty for paying an amount higher than your minimum monthly repayment, or for making a payment before your scheduled date.

      Cheers,
      May

  2. Default Gravatar
    NirajFebruary 28, 2018

    I am 18+ and on student visa on Australia..Can I use mastercard to apply for this zip money ??I am earning enough money to pay you fortnightly..

    • Staff
      RonMarch 4, 2018Staff

      Hello Niraj,

      Good day! Appreciate you contacting finder regarding your inquiry today.

      I understand you want to sign up for zipMoney. Keep in mind you can only use a debit card or bank account to repay with zipMoney. If the mastercard you are referring to is a debit card and is associated with a valid bank account then you may use it to sign up and for repayment.

      Furthermore, 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.

      Hope this helps!

      All the best,

      Ron

  3. Default Gravatar
    JulesFebruary 22, 2018

    How can I register for ZipPay without giving my bank account pin number and password to an online website?

    • Staff
      CarloMarch 10, 2018Staff

      Hi,

      Thank you for contacting finder.

      I understand that you are inquiring about other options on how to register to ZipPay.

      The only way to sign up is to input some personal identifying information online. Please be advised that 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.

      Thank you.

      John

  4. Default Gravatar
    LeahFebruary 7, 2018

    Which one do u think would b good for me,can u combine after pay and zip money is it or open money???

    • Staff
      JoshuaFebruary 22, 2018Staff

      Hi Leah,

      I’m afraid that we’re not able to provide specific recommendations to our users as we are comparison website. Whilst I can’t give you personalised advice on which service would be best for you, I can, however, provide relevant information to help you make the right decision.

      Basically, Afterpay and zipMoney aren’t the same. Each offers varying costs and features, so you can’t combine the two platforms, however, you can still use them simultaneously but separately. For better understanding between the two, you might like to read our article entitled “Afterpay vs zipMoney” on this page and find it useful.

  5. Default Gravatar
    PurchaseJanuary 26, 2018

    If I do a purchase in store and my purchase is bigger than what I have in my zip acctount,am I able to pay cash and pay the rest by using my zipmoney acct in store?

    • Staff
      AshJanuary 31, 2018Staff

      Hi there,

      Thank you for reaching out to us.

      You may still shop even if you do not have enough credit to cover for the purchase. You just need to make a co-payment wherein you will be acknowledge to swipe your card for it before completing the purchase. Kindly take note that the co-payment will only be paid using your card.

      I hope this helps.

      Please do not hesitate to reach out to us again if you have additional questions.

      Cheers,
      Ash

  6. Default Gravatar
    PatriciaJanuary 7, 2018

    I have zipPay through PayPal. Does merchants still have to have zipPay logo or can I still go through PayPal? Example: eBay does not have zipPay but does have PayPal. Can I pay through PayPal that has my zipPay?

    • Staff
      RenchJanuary 7, 2018Staff

      Hi Patricia,

      Thanks for your inquiry. Please note that we are not affiliated with zipPay or any company we feature on our site and so we can only offer you general advice.

      The merchants should still have to have the zipPay logo for you to be able to make a payment through zipPa. Even though that the merchant has Paypal, it doesn’t mean that they also offer zipPay. You may contact the merchant directly if they offer zipPay to confirm.

      You may check the list of stores that offer zipPay on this page or you may also visit zipPay official site.

      Best regards,
      Rench

  7. Default Gravatar
    davidDecember 4, 2017

    Hi, I have retired, can I still apply for zip money. David

    • Staff
      ArnoldDecember 5, 2017Staff

      Hi David,

      Thanks for your inquiry

      zipMoney requires applicants to meet these criteria.

      1. Must be 18 years of age
      2. Must be an Australian citizen or a resident
      3. Must be employed in some capacity

      If you are receiving benefits or allowances, these may be considered as income. It would be best if you could speak to zipMoney directly to clarify this.

      Hope this information helps

      Cheers,
      Arnold

  8. Default Gravatar
    ManaliliNovember 14, 2017

    Can I use zipmoney to pay bills like council rates or car rego without any added charges (aside from monthly $4.95)?

    • Staff
      JoanneNovember 14, 2017Staff

      Hi Manalili,

      Thanks for contacting finder, we are an Australian financial comparison website and general information service.

      I was unable to locate those in the list. But you may refer to this page for you to check on the stores that accept zipmoney.

      Cheers,
      Joanne

  9. Default Gravatar
    NarelleNovember 7, 2017

    Just wondering if I loan $1,000 and would like to pay over 6 months how much interest would I be paying, please. Thank you

    • Staff
      RenchNovember 7, 2017Staff

      Hi Narelle,

      Thanks for your inquiry. Please note that we are not affiliated with zipMoney or any company we feature on our site and so we can only offer you general advice.

      You can make use of our loan calculator on this page to give you an idea of how much you can borrow and how much your repayments will be.

      If you are also referring to zipMoney, please contact them directly by visiting their official site.

      Hope this information helped.

      Cheers,
      Rench

  10. Default Gravatar
    AllanOctober 24, 2017

    does the monthly fee apply if your payments are up to date or is it every month until zero balance?

    • Staff
      LouOctober 24, 2017Staff

      Hi Allan,

      Thanks for your question.

      With zipMoney, there is a monthly service fee of $4.95 when there is an outstanding balance on your account.

      Cheers,
      Anndy

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