When you make a purchase request with the Zip App, we pre-authorize your payment method for the first installment*.
If you cancel your purchase request before completing your purchase, you should see the associated pending charge disappear within a few days.
If your Zip order was canceled after completing your purchase - either by you, or by the merchant - Zip will issue your refund as soon as it is issued by the merchant, refunding you the amount you've paid to-date and canceling all future payments.Usually this process occurs within 13 days of your order date so that your order is refunded before the second installment date.
You can view the status of your order(s) by signing in to the Zip mobile app, tapping orders, and viewing your “Open” orders - once the refund is received by our system it will reflect here. If your second installment is coming up and the charges haven’t been canceled yet, you can follow the instructions to Report a Return to push your second installment out by two weeks.
Example:
You make a $200 purchase, but after a few days the merchant cancels the order due to lack of stock. You already paid your first installment of $50 upon ordering, but you don’t see your refund reflected in the Zip app yet. It still shows $50 due for each of the remaining three installments on your order*.
Don’t worry! Your cancellation will be detected by our system, and your full refund will be issued before your second installment.. The remaining three unpaid installments will be canceled out by this refund, and the first installment you were charged upon ordering will be refunded back to your payment method:
- $50 paid at time of purchase, refunded to payment method*
- $50 canceled out by refund*
- $50 canceled out by refund*
- $50 canceled out by refund*
Note: If you have a canceled order and have been charged a second installment, please reach out to Zip Support.
*For example, for a $335 purchase, you’d make four $85.25 payments every two weeks starting today for a 31.11% annual percentage rate and a total of payments of $341. A $6 installment fee is charged at commencement - you pay $1.50 of this fee as a prepaid finance charge when you make your initial payment today. The remaining $4.50 is included in your future payments. Actual installment fees vary and can range from $0 to $7.50 depending on the purchase price and Zip product used. Actual amount of fee for your purchase will be reflected in checkout. Estimation of installment payment and annual percentage rate excludes potential tax and shipping costs. Zip Pay Anywhere and Zip Checkout financing through Zip issued by WebBank, except for Zip-originated loans in CO, NV, MA, and MD. All loans are subject to credit approval."