How does the customer make repayments?

Payments can be made weekly, fortnightly or monthly. When an account is created, the customer can set a regular direct debit from their nominated payment method to manage repayments. With Zip Money customers can also use their bank account.

Important: as responsible lenders, we do not support paying down your balance using a credit card.  

Customers can make one-off payments through the Digital Wallet or via BPAY to bring their used balance down quicker any time during the month without fees or charges. It is important to note, one-off payments will not stop or replace the customer's required monthly repayment. The customer can find their BPAY details in their Digital Wallet.

If customers have no balance at the end of their statement period, we wave the account fee. No balance, no fees.

Minimum repayments

For Zip Money: The minimum monthly repayment amount is the greater of 3% of their outstanding balance or a fixed monthly amount which is determined by your account limit. This will be disclosed in a customer's contract and can also be found on their monthly statement or via their Digital wallet.

For Zip Pay: The minimum monthly repayment is $40. 

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