Zip allows you to make purchases and take your goods straight away, but you must pay 25% up-front with the rest charged over 3 fortnightly interest free instalments.
Are there any hidden fees?
There are no fees and interest costs to shop with Zip if you make your payments on time. If you miss a payment, you will be charged an $10 default fee per week it is late (capped at $40 total late fees per purchase).
How much credit can I get with Zip?
If you pass Zip's minimum credit criteria you will be allocated a starting spend limit between $300 and $1,000, subject to an individualised credit assessment. As you purchase using Zip and make your repayments on time, your spend limit will increase, up to a maximum of $1500 for those with higher credit scores.
How do I sign up to shop with Zip?
You can sign up when checking out online, at zip.co/nz or through the Zip mobile app. The sign-up process takes 2-3 minutes and you need to be 18 years or older with valid ID and a NZ debit or credit card.
What if I don't have a NZ Driver Licence?
Zip needs to identify you. You can get manually ID verified at Zip.co.nz with other forms of ID (this process can take up to 24 hours).
Why did I get declined?
Zip performs a credit check as part of its application process. Torpedo7 does not have any influence on Zip's credit criteria. If you have questions around your application, you will need to contact Zip via their website zip.co/nz.
Can I spend above my credit limit?
When checking out online, you can spend above your available Zip credit by increasing your first payment by the difference. This is automatically calculated during checkout.