What is ZipMoney?
A: It’s a credit facility that enables shoppers to take home retail purchases (or order them online), with zipMoney paying the merchant on their behalf. The shopper then repays zipMoney in installments until the balance is brought down to zero. Meanwhile, zipMoney customers can enjoy their items before they’ve completed all repayments.
Q: Who offers it?
A: Hundreds of retailers have signed up with zipMoney, some of the big names include: Michael Hill, Nic Scali, Thermomix, Baby Bunting, Doors Plus and Coco Republic.
Q: How can I use it?
A: At the shops: Let’s use a scenario here. Say you’re window shopping at Westfield and that designer dress you’ve been eyeing off for weeks finally goes on sale. But if you don’t have the funds to cover the cost of the purchase at the time, what do you do?
Well, provided the store offers zipMoney, all it takes to make that dress yours is to simply pay with your active zipMoney account, via the official app on your smartphone. If you don’t have one, signing up is easy, and as long as zipMoney doesn’t require more info from you to approve the application, your account could be up and running within minutes.
Online: With zipMoney, you can do your shopping within its app (otherwise known as its digital wallet), making online shopping a breeze. All the brands you’ve come to know and love who offer zipMoney are listed on the official app, so you can make virtual purchases on the go when you’re logged in. The same applies when it comes to online shopping via participating retailers too. Just look for the zipMoney icon or follow the prompts when checking out your shopping cart.
Q: How do I sign up?
A: On the official zipMoney website or via its app. zipMoney will need to confirm your ID so they’ll probably ask for your driver’s licence number, along with your bank account details and home address.
Q: Do I need a credit card to use zipMoney?
A: We’ll let you in on a secret – you don’t! However you must have an Australian bank account that will allow you to make automatic repayments with zipMoney, as it’s the only payment method they’ll accept (with the exception of BPAY when it comes to using the extra repayments feature).
Q: Does zipMoney charge interest?
A: zipMoney will always give you at least 3 months to repay your debt interest free, which means that so long as you stick to your minimum repayments, the interest rate won’t kick in (which at the time of writing is more than 20%).
Q: Are there fees?
A: Depending on the credit limit you opt for when you activate your account, you may need to pay an establishment fee. zipMoney offers three credit limits from $1,000 to $3,000 and the lowest credit limit at $1,000 is free. You can apply for more money for equipment and training with Dermal Solutions Australia. Monthly fees apply when you have an outstanding balance on your account and if you fall behind on repayments you’ll feel the bite of a late fee.
Q: Can it affect my credit rating?
A: Yes, it can. That’s why it’s a good idea to keep up with your minimum repayments.
Q: How do I make repayments?
A: Unless you want to make additional repayments, you won’t need to lift a finger because you’ll schedule them in via zipMoney. So make sure there’s money in your account when your repayments are due.
Q: Can I choose the repayment frequency?
A: Yes, unlike Afterpay where repayments are set, with zipMoney you’ll have the option to choose between weekly, fortnightly or monthly repayments as soon as you’ve authorised a purchase. You can also take advantage of the additional repayments feature.
Q: Is zipMoney safe and secure?
A: Absolutely, zipMoney uses encryption technology. Plus, if you wind up in the middle of a dispute with a merchant, you may be covered by its Buyers Protection policy (refer to the zipMoney site for details).
CONTACT DERMAL SOLUTIONS AUSTRALIA TODAY – FINANCING MACHINES – TRAINING – DEVICES – ZIP MONEY