Zip Money


What is ZIP?
ZIP is a simple and convenient online payment option that lets you buy now and pay later with no deposit and no credit card required. It’s quick and simple and is specifically designed to help you manage your online spending.

What is a ZIP Line of Credit Facility?
A ZIP Line of Credit Facility is an Account that provides an available amount of money at any time. It allows you to make purchases on credit up to your approved credit limit. You can make as many purchases as you wish, as long as you stay under your credit limit and make your minimum repayments each month. ZIP puts you in control of your online spending and allows you to purchase or repay as much and as often as you like.

What can I use my ZIP Line of Credit Facility for?
The ZIP Line of Credit Facility can be used to purchase goods and services online at any ZIP affiliated retailer.

What is the ZIP Consumer Centre?
The ZIP Consumer Centre is our online access point for your Account. It can be found by signing it at All information about your Account can be accessed and viewed or updated. Information includes outstanding balance, available credit, repayment details, transaction and statement information, and much more. It also provides an instant messaging contact service for all your enquiries.

What is an SMS Code?
An SMS Code is a secure code provided by ZIP to you via SMS, and is required to authorise each purchase. This layer of protection forms part of ZIP’s multi point authentication process and protects both you and ZIP from fraudulent transactions.

Can I use ZIP in another country?
No. At this stage ZIP is for Australian residents only, making purchases at Australian domiciled retailer websites.

How does my Account work?
Once your Facility is approved, accepted and verified, an Account is established and you can begin to make purchases. Each purchase requires authorisation by both you and ZIP. Once your purchase is authorised, ZIP pays the Merchant on your behalf and your product is shipped. You then make your repayments back to ZIP. You are required to repay at least the minimum repayment amount each month, but you can pay as much or as often as you like, with no penalty, to reduce your balance as quickly as possible. You may re-use your Account for further purchases at any time as long as you have available funds under your credit limit and your Account is up to date.

What is my Credit Limit?
Your Credit Limit is the maximum amount you may borrow at any one time under your facility. This is advised at the time you apply, is displayed on your contract and statements, or in the ZIP Consumer Centre.

What are my Available Funds?
Available funds is the amount you have left to use under your Account. It is the Credit Limit less the outstanding balance less any authorised purchases not yet posted to your Account.

Who can apply for a ZIP Line of Credit Facility?
Anyone who is over 18 years old, is an Australian resident, is employed in some capacity, and earns more than $300 per week is eligible to apply. ZIP’s lending criteria is then applied to each application.

How do I sign up?
Simply select the ZIP payment option at checkout and proceed with our simple application process.

What do I need to apply?
All you need to apply is the personal and banking information you know by heart, and the identification details in your wallet or handbag – it’s that simple!

How long does it take to apply online?
Our application process is quick and easy and you will usually have an answer within 4 minutes of starting your application! Once your Account is accepted and verified you can use it anywhere you see the ZIP logo.

How will ZIP process my Application?
ZIP will process your application by assessing the application information, ensuring the loan is not unsuitable for you, and ensuring that you can comfortably afford the repayments. Verification performed by ZIP include standard credit and transactional bank account checks. ZIP lending and credit criteria applies to all applications.

How do I activate my Account?
Once your Account is approved and you have accepted the Terms and Conditions and entered your secure SMS code, your Account will be activated. After activation you can start purchasing right away!

How does Interest Free work?
Every purchase you make using your Account has a minimum Interest Free period of 3 months from the date of the transaction. If you repay the purchase amount within this period no interest is charged. Should an amount remain outstanding at the end of the 3 month Interest Free period, interest will be charged at the Standard Annual Percentage Rate. 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.

Does Interest apply to my Purchases?
Every purchase on the ZIP Line of Credit facility has a minimum interest free period of 3 months. Unlike a credit card, this is a full 3 months from the date of each transaction. Interest will apply at the Standard Annual Percentage Rate to any outstanding balance at the end of the interest free period.

What does it cost?
Every transaction has a minimum interest free period of 3 months from purchase date. Interest will be charged at the Standard Annual Percentage rate if any part of the transaction is unpaid after the interest free period.

Are there any fees and charges payable on my ZIP Line of Credit Facility?
There are no annual fees. A monthly service fee is charged for any month there is a balance outstanding on your Account. Late Fees may be charged if you do not make your minimum repayment amount before your payment due date. Other fees and charges may be charged for alternate methods of repayment or dishonoured payments. Any fees charged are added to the outstanding balance.

Please check your contract for specific details.

What is the Standard Annual Percentage Rate?
The Standard Annual Percentage Rate is the interest rate that applies to your balance after any interest free period. You should check your contract for this rate.

What is ZIP Buyer Protection?
ZIP Buyer Protection is a benefit provided by ZIP to ZIP customers. It protects eligible customers for purchases where the purchase fails to arrive or is significantly not as described. Please see our ZIP Buyer Protection Policy for full details.

Is ZIP secure?
ZIP is committed to protecting all customer data and employs the highest SSL encryption technology to keep this information safe and secure. We comply with all relevant Privacy Laws and treat these obligations and commitments very seriously.

ZIP employs 2 factor authentication for every transaction. This means in addition to your Secured Password we will send a single-use Code via SMS to protect your account from fraudulent activity.

What is the minimum amount I need to pay?
The minimum monthly repayment amount is $40 or 3% of your outstanding balance, whichever is greater. The minimum monthly repayment amount can be found on your monthly statement or via your online access at the ZIP Consumer Centre.

Am I am able to pay more than the minimum amount?
Yes, you can pay as much as you like at any time with no penalty (as long as it is more the minimum amount). Paying off more than the minimum will save you interest, and means you pay off your outstanding balance much quicker, allowing you to continue to make Interest Free purchases with your available funds.

How do I know when my repayments are due?
Your payment due date is advised on your statement. You can also find this in the ZIP Consumer Centre. Your first payment is due one month after your first purchase, and then falls due on that day each month (eg 15th of each month). You can pay the minimum amount at any time in the month before your due date.

How do I make repayments on my Account?
Repayments are made via direct debit from your debit card or bank account. You may pay weekly, fortnightly or monthly as long as you pay at least the minimum amount. One off repayments may also be made direct with your debit card or via BPAY. To make repayments, simply sign in to the ZIP Consumer Centre any time.