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What are the fees and charges for Zip?
Below is an overview of all fees and charges for both our Zip products. For differences around the two products please check out this article.
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| Interest | Never | Yes (19.9% p.a) only after your interest-free period expires |
| Monthly Fee | $6; waived if you have no balance | $6; waived if you have no balance |
| Establishment Fee | $0 | $0 - $299 (depending on your credit limit) |
| Late Fee* | $5 | $15 |
| Dishonor Fee** | $0 | $5 |
| Pay Your Bills With Zip | 1.50% Processing Fee (When paying Bills with Zip) | 1.50% Processing Fee (When paying Bills with Zip) |
Fees we are not charging:
- No annual fees
- No paper statement fees
- No payment processing fees
- No account closure fees
- No credit limit increase fees and
- No other hidden fees!
Good to know: All Zip Money purchases come with a minimum 3 month interest free period, however, most partners offer much longer interest free terms!
*Late Fees Explained
If the Minimum Repayment Amount (shown on your Zip contract) is not paid within 21 days after the Due Date a late fee will be added to the account.
**Dishonor Fees Explained
A bank dishonour fee may be applied if a scheduled payment was rejected/ dishonoured by the bank due to insufficient funds or incorrect bank account details. This charge covers the costs incurred by our bank.
That’s it!
