Can someone tell as cant find the answer.
if you purchased something with zip pay start of this month and it’s due end of this month as your normally given a month.
Fees kick in after that month but when you pay balance prior to end of month and make a new purchase say before end of that month does it need to br paid off then as well? Meaning you get a week to pay back.
Or does it need to get paid back end of next month.
Yes I know that if you use earlier in the month and pay by end of month no fees.
It is a month and a half, not a month.
Don't you have a month from when the statement was issued to pay it off? If you make a purchase after the statement was issued, it won't appear until the next statement
So there is statements never knew that so what am I looking for obviously a statement maybe with what’s in my used balance now.
But what does that mean if I want to pay off my balance now to free up the available funds and use again tomorrow?
Im just not sure when this new balance would need paid by the end of next month or what new amount I use tomorrow is to be paid end of this month also which would pointless as we are only a week away.
Just check and follow your statement, it is just like credit card, you pay the full balance on the statement before the due date (end of the month for Zip) and you won't pay any fee at all. The purchase you made will be in your next statement so you don't need to pay back to avoid fees.
So if I check my statement and if I pay in full tonight or first thing then a new purchase will not be due when? End of December?
new purchase say before end of that month
Statement balance at the end of that month is due within 30 days to avoid fees/interest.
ie. up to 60 days interest free.
Im not getting the 60 days no interest don’t think I have ever seen this always says pay xx amount by due date and that’s normally a month and as if it’s not paid in full your charged a fee until you pay it off.
It's up to 60 days. So if you purchase on the 1st of the month you get around 60 days to pay it off. If you purchase on the 28th of the month you have 28-32 (ish) days to pay it.
So anything purchased during the month of October, appear on the November statement for payment by the end of November. Anything you purchased in November appear on the December statement for payment at the end of December.
Purchase 1st October
Due 30th November.
Of balance as of 30/11 pay $7.95 fee.
It’s always due last day of month following month of purchase.
So say I pay my my balance now and add new balance tomorrow when would my new balance be due without fees
And from what I recall, the earlier in the month you make the purchase, the longer you have to pay. So if you purchased on the 28th October, you still only have until 30th November.
Sorry confused I don’t have much of a limit on the account my preference and need to use that credit tomorrow by paying off what’s on there now. So if I pay off what’s on there now when is the rest due? As it’s not into another month yet
30th December.
Ok so I go pay my balance now let’s say I’m back to zero due. And say I now have my full credit.
I then go use again tomorrow and your saying I’m not due to pay this till December 30th and im fee free or if I wish to not pay December then charged that one off fee.
Im just making sure if I paid my balance off and then used again tomorrow I’m not having to pay both off by end of November.
Im just making sure if I paid my balance off and then used again tomorrow I’m not having to pay both off by end of November.
Yes that is correct, because if you purchase tomorrow, it will only appear on your December statement.
I'm pretty sure if you log on to your app you should be able to see something like "pay $xxx by 30th November to avoid any fees". Not sure of the exact location or wording, but it should be there somewhere.
@dizzle: Yes it does say pay xx by 30th November obviously to avoid fees but this is probably the full amount not the smaller amount they ask for.
My worry was doing a new purchase and having to pay that by 30th November also.
But it seems by the replies it be 30th December the new amount would be due.
I then go use again tomorrow and your saying I’m not due to pay this till December
Correct
Have you read this?
Might also be worth mentioning your repayments may take 24 - 48hrs to clear depending on payment method so you may not be able to spend the same day you repay….
I don’t get this I never looked at statements before but my current balance owe was from 4th nov purchase and is not even on there yet as a statement yet.
So would that mean if I paid this current balance off and or leave whatever I’m owe obviously as long as I pay before 30/11 as requested a rise in limit. Would that new purchase not go onto the statement i not got yet from 4/11. Or still 30/12.
My main issue was not having to pay back too much at once. And obviously not pay fees. As I have upped my limit im no longer restricted to what I had to available to spend it’s more new purchase was concern if had to pay by end of November also
statement i not got yet from 4/11. Or still 30/12.
One in the same. November statement with a due date of 30/12.
You can make minimal nominal repayments but you will pay $7.95 per month for the privilege.
I like to take advantage of the 4 weeks pay after but refuse the fees. When i first used zip there was few promos at the time and with price match from a store was a win win.
Thinking it was similar to afterpay only paid a certain amount almost paid and was hit with a fee. Was a bit annoying as thought there was no fees to pay.
I still did good with the zip promos and price match but after that i make sure balance is paid off by date the minimum is due
I just treat it like a debit purchase, Whenever i pay with credit transfer over the spent money straight away from bank account (weather be CC or Zip)
Ok I have just paid what was owe on a purchase from an amount from start of November and then went and checked and still says im owe the minimum month amount.
I asked if I make another purchase prior to the end of November when is this due to be paid and was told end of December.
So having made a purchase back at start of November and just this week. I paid off the amount from earlier this month and obviously the purchase from this week remains.
But it say’s im still owe the minimum? The thing is November statement has not been added yet.
My idea of making this other purchase was to give me another 4 weeks as mentioned end of December to pay without any fees.
But im getting the impression that as I made this new purchase this week and it’s still in November month they want that paid also or im charged the fee?
So as I used my zip to make another purchase few days back unless I pay that off also I be charged the fee still. So this recent purchase gave me no free time?
That’s how I see it as there is still money owe from few days back then fee will still kick in.
Don’t really get this zip thing.
This is zip pay not zip money if makes any difference.
This zip doing my head in it's not as if you can get in contact with them on site to ask questions, i prefer afterpay as paying back is longer if needed.
Anyway looking at this im confused looked at my account.
PAY NO FEES
Pay your Statement Closing Balance by your Due Date and pay no fees; OR
PAY AT YOUR OWN PACE
Set your own flexible payment schedule and pay back as little as $40/month. A $6.00 account fee will simply be added to your balance for any month your Statement Closing Balance has not been paid down to $0.
DECEMBER SUMMARY
Statement Closing Balance $xxx
Min. Monthly Payment $xx
Due Date31 December (32 days)
Pay your statements closing balance? No fees.
Or
Pay at your own pace xx per month and fees.
Thing is there is no statement for November yet on my account only oct which was a small amount and had been paid off.
Since i used my zip around 4th nov for xxx and again just last week for xxx amount, half of that 4th nov purchase was paid a week ago and other half of it yesterday so if makes sense on the xxx amount i spent on 4th nov is paid upto date.
But as i made another purchase last week with zip for xxx amount and being told it's interest free until 31st December im confused.
As yes i paid my amount from the 4th nov purchase but the one from last week remains and it says xx to pay by 30 November?
As i have xxx from last week purchase do I need to pay this off in full now? To not get a fee?
As i thought i get until end of December?
Yes fees are low and i prefer not to pay fees but yet get the interest free period so if i have you pay this from last week that was only a week of having to pay back.
I have the funds to pay the purchase from last week off but prefer if i can use it for other important things.
After today i dont know if i dont pay the xxx showing currently then there be a fee.
What I don’t get will they just take xx from me tomorrow and no fees or with fees as per my above story. And from 4th November I purchased something paid that xxx back while doing so purchasesd last week which is still outstanding.
And have no idea if there is fees tomorrow when xx is due?
The summary below I found means nothing to me? It just says what I spent last week but yet says 31st dec.
DECEMBER SUMMARY
Statement Closing Balance $xxx
Min. Monthly Payment $xx
Due Date31 December (32 days)
Aint got a clue how zip works properly but be nice to know how to work the system to the max, i normally dont use this much but have been recently.
Mostly used it in past when there was promo of which resulted in getting money off.
But no idea what's happening i went into manage payment and select third option something like pay the xx on day without fees??
I go back to main page and it says its now due 31st dec not sure if xx comes off tomorrow by selecting manage im assuming automatically pays itself than manually.
Nothing changed what I was owe
So shall see tomorrow.
Im still unsure how to best work it, maybe in past i been paying back to quickly who knows.
Wondering if this is ever happened to anyone
I’ve been using Zip for year or two and I’ve never been slugged an account fee.
I always paid off at least once a week
I’ve done many purchases at the end of the month that carried over to the next month and I’ve never been charged an account fee
however I’ve been charged a fee at the beginning of February and again at the beginning of March
I queried the one in February and they refunded that one but they did not refund the March one because I did a purchase on the second last day of February and it got processed within 24 hours by the merchant and it became the closing balance. I had zero balance before that purchase
so to understand correctly am I right in saying that if you do purchase for example late on the last day of the month and you go to sleep and the purchase has been processed by the merchant before midnight you’ll get charged and account fee for that purchase ?
very sneaky of Zip to do that
Zip tries to make customers pay once (if not the whole balance) during the up to 60 days interest free period.
Not sure if this helps, but I have only used it once, making a purchase on 13 September and the payment was taken out on 31 October.