If you did not spend all of the funds loaded onto your Zip virtual card for an order, rest assured a credit for the unused amount will be applied toward your order’s remaining installments within 13 days of your order date, and before your 2nd installment is drafted.
This “adjustment refund” will apply to the last (4th) installment on the order and work backward from there until the full refund is applied. Below is an example which details exactly how this process works.
Example:
You load your Zip virtual card with $300, plus Zip’s finance charge per installment, but you end up only spending $150 on your order. However, in your Zip app you still see installment amounts that reflect the virtual card total ($300), and not what you actually spent ($150):
- $75 (plus $1 finance charge) paid at the time of purchase
- $75 (plus $1 finance charge)
- $75 (plus $1 finance charge)
- $75 (plus $1 finance charge)
As mentioned, within 13 days you will see this difference automatically credited toward your order, prior to your 2nd installment date. This adjustment refund amount will be applied to the last (4th) installment on the order and work backward from there until the full refund is applied. Once this $150 credit automatically applies 13 days or less from your order date, your adjusted installments would look like this:
- $75 paid at time of purchase
- $75 (plus $1 finance charge)
- $0 adjusted by refund
- $0 adjusted by refund
As you can see above, the refund is applied to the last installment and works backward until the total refund is applied. So in this instance, the last two installments of $75 were canceled and there is only one more payments of $75. Once that is paid the order will be complete.
Note: If your order adjustment refund is not reflecting as expected by your 2nd installment date, please reach out to Zip Support.