Your statement will be issued via email at the end of each month. In your statement, you'll find information on the following:
- Credit limit: The total amount that you were approved for initially.
- Your Opening balance: The total amount you owe at the start of the statement period.
- Debited: Your orders, fees or interest charges for the month. Anything that has decreased your available credit.
- Credited: Your repayments, direct debits, one-off payments or refunds for the month. Anything that has increased your available credit.
- Your Closing balance: The total amount you owe at the end of the statement period, pay this balance & we'll waive the monthly account fee.
- Repayment due date: The date by which you need to make the minimum monthly repayment.
- Minimum monthly repayment: The minimum amount you need to pay back each statement month, before your contractual date.
- Total scheduled repayments: The total amount you can expect to run via direct debit in the next statement period.
- On Zip Money, if you have instalments set up, the total scheduled repayment amount will show your Instalment payments for any orders over $300.
- On Zip Money, if you have instalments set up, the total scheduled repayment amount will show your Instalment payments for any orders over $300.
- Monthly Account Service Fee: Applied only if you have a balance owing at the end of the month.
Your Zip Money account statement will also outline:
- Standard variable rate: Your annual (yearly) interest rate
- Interest-free balance: The portion of your owing balance that is within the interest-free period and which is not accruing interest.