If you miss an instalment on your Zip Money account, it won’t automatically put your account into arrears, this only happens if the flex contractual minimum monthly repayment isn’t made by the due date.
Zip will automatically retry the missed instalment repayment again on day 7 and day 14.
If the instalment hasn’t been paid within 15 days, the instalment plan will be cancelled. Any remaining balance will then move onto your flex schedule on your Zip Money account.
If your instalment plan is cancelled and the purchase balance is still active outside the interest-free period, interest will apply. This is charged at the standard rate outlined in your account contract, calculated daily and charged monthly.
Zip will notify you if an instalment fails at any time on your Zip Money account, you can also choose to make a manual repayment at any time. Simply:
- Open the Zip app
- Tap the ‘Home’ tab
- Select your ‘Zip Money account’
- Under Upcoming repayments, tap ‘Instalments’
- Tap ‘Pay’
If you have more than one instalment plan, you’ll need to do this for each purchase separately.
If instalments are cancelled, you can still continue repaying at your own pace by setting a scheduled amount and frequency using the Flex schedule option in the app.
Please note that from 12 August 2025, Instalment Plans will no longer be available for new purchases made on your Zip Money account.
IMPORTANT: The Instalments feature will no longer be available for new purchases made from 12 August 2025. From this date, all new purchases will be placed on the Flex repayment schedule. Existing Instalment plans will continue, and you must keep making repayments as usual. For more information on these changes, please visit here.