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Buyer's Protection for Purchases between $30-$5000 @ Zip

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Buyer's Protection for Purchases between $30-$5000 @ Zip
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jwsc on 08/08/2022 - 13:08 zip.co (282 clicks)
Last edited 08/08/2022 - 19:21 by 2 other users

Hi,

ZIP Pay now provides purchase protection for purchases between $30-$5000.
Which, to my (admittedly limited) knowledge is pretty rare for non-credit cards.

If you are an eligible buyer, the ZIP Buyer Protection Policy can help you recover payments made in respect of certain items purchased where items are:

  1. Not received; or
  2. Significantly not as described.

You have no automatic entitlement to receive any payments under the ZIP Buyer Protection Policy.

The ZIP Buyer Protection Policy does not indemnify you for loss which may be incurred and it is not a contract of insurance.

If we determine a claim in your favour we will reimburse you the amount of your purchase or Zip transaction less the value of the cash back, rebate, credit or other promotional incentive. We will not reimburse you for the postage costs you incur to return an item to the Merchant or another party we reasonably specify.

If the Merchant presents Proof of Shipment to your address, we may find in their favour even if you did not receive the item.

You may be eligible for the ZIP Buyer Protection Policy if all the following requirements are met:

  1. You use ZIP as your payment method;
  2. Your payment is made by selecting ZIP as the payment method in the Merchant’s checkout flow;
  3. You authorise the full amount in one payment;
  4. The item is not received or is significantly different to how it was described;
  5. Your purchase is for a tangible good that can be shipped.

The ZIP Buyer Protection Policy will not protect you:

  1. For more than one claim for a single ZIP transaction;
  2. For Zip Transactions used to pay bills via BPAY.
  3. If you do not comply with the process set out in this policy; or
  4. For Zip Transactions used to purchase Gift cards;
  5. If your claim is made more than 90 days after your Purchase;
  6. If you do not comply with your responsibilities as set out in this policy.
  7. If you have not attempted to resolve your issue directly with the Merchant in the first instance

Referral Links

Referral: random (256)

$10 for referrer & referee, if referee applies for account within 10 days of invitation and completes a transaction within 14 days of account approval.

Financial Buy Now Pay Later Purchase Protection Zip.co

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Comments

  • d3al on 08/08/2022 - 13:17
    +3

    Not really a deal

  • mitcheo on 08/08/2022 - 13:17

    about time they give something back after increasing everything

    • jwsc on 08/08/2022 - 13:19
      +3

      what got increased?

      • Heaps for Cheaps on 08/08/2022 - 13:24
        +12

        The losses from hodling their shares

        • nightelves on 08/08/2022 - 13:58

          There's such thing as a stop loss.

        • USER DC on 08/08/2022 - 15:39

          They still have not fired larry

          • lovebargain87 on 08/08/2022 - 22:58

            @USER DC: Blaming someone for one's own investment decision. Regret shunning!

      • mitcheo on 08/08/2022 - 13:27

        member fee

        • ilovefullprice on 08/08/2022 - 13:36
          +2

          What member fee?

          • mitcheo on 08/08/2022 - 14:06
            -1

            @ilovefullprice: you get charged monthly to be a zip member / 2 charges if you are with both zipmoney and zippay

            • ilovefullprice on 08/08/2022 - 14:12
              +4

              @mitcheo: I am only using ZipPay, always pay back on time and I don’t get charged for any member fee

        • jwsc on 08/08/2022 - 14:27

          there's a setting to pay back the amount required to not be charged a fee via direct debit, pretty convenient and a basic must do for any sort of credit thing

    • nicholasv on 08/08/2022 - 13:20
      +23

      They've been a member for four years and this is the first post for ZIP, despite making 14 other posts. Nothing indicates that they're associated?

      • kierann on 08/08/2022 - 14:19
        -6

        I assumed, that after being a member for so long and considering posting this as a deal, there must have been an association.

        • nicholasv on 08/08/2022 - 14:20

          I agree that it shouldn't have been posted as a deal, but don't think they're associated

  • Heaps for Cheaps on 08/08/2022 - 13:26
    +3

    I really don't think this is a deal… especially since, if a seller doesn't send the item and scams you, zippay state "Where we are unable to recover the whole or part of your payment from the Merchant we may, in our absolute and sole discretion, decide to make a credit to your account as a gesture of goodwill."

    That's as good as nothing.

    I use Zip but reading their T&C's it's painfully obvious they offer nowhere near the protections that purchasing with a credit card will give.

  • dm02 on 08/08/2022 - 13:35

    "Where we are unable to recover the whole or part of your payment from the Merchant we may, in our absolute and sole discretion, decide to make a credit to your account as a gesture of goodwill."

    This just seems like their way of dressing up Mastercard/VISA's chargeback schemes if you make a purchase using the ZIP card. Could be wrong though

  • Shaquille Oatmeal on 08/08/2022 - 13:41
    +5

    I wish they offered protection for their share price going from $8 to 65c

    😂😂😂

  • itsfree on 08/08/2022 - 13:43
    +2

    For some reason, I thought the title said "price protection" and I got really excited haha

  • silenthillrocks on 08/08/2022 - 13:47

    Belongs in forum

    • ronnknee on 08/08/2022 - 14:24

      I would like to know why you and others think this, can you explain why?

      • Heaps for Cheaps on 08/08/2022 - 14:43
        +1

        This is much of a deal as somebody posting that Coles beef is 100% hormone-free.

    • silenthillrocks on 08/08/2022 - 15:56
      +1

      Vague promises in PDS are not free insurance.

      Credit card pruchase protection is usually backed by a legitimate insurance policy and an insurance company.

  • brisdaz on 08/08/2022 - 14:40
    +1

    I received the email but a quick scan suggests it costs money? It's not free?

  • Bad Wolf on 08/08/2022 - 15:41
    +2

    I recieved the email but from my understanding it a way to buy third party insurance for items purchased on zip

    Here’s the link for the pds

  • silenthillrocks on 08/08/2022 - 16:49
    +3

    Wish they offered price protection for their share price

  • USER DC on 08/08/2022 - 20:02
    +2

    For all of you, who didn't remember, how $h!t zip actually is remember the Lenovo USB c charger debacle ?

    Those who payed with Zip pay AND DIDN'T contact lenovo about that charge, Zip had done absolutely nothing, your charge would have stayed pending forever (unless you contacted lenovo to refund you).

    This is the case with any merchant you paid with Zip directly (aka not via their One time Visa Disposable card). Despite the fact that this option would make most money for Zip but. Zip would never be giving help to anyone in such case.

    Paying directly with Zip is like the worst thing possible. (their One time disposable visa card is a bit okay because it has VISA PROTECTION unless the stupid Z!P protection which is GARBAGE IMO, just like Z!p

  • 76F on 20/08/2022 - 20:32

    Is this separate from the Product Protection available for purchase in the app which covers damage, theft, etc?

  • thomalfa on 22/11/2023 - 01:16

    Whatever complains you made, they'll tell you to contact the merchant first. I don't think they will ever step in.

    Use at your own risk. Can't compare to financial backing credit card

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