What is Money by Afterpay?
Money by Afterpay is a money management app (but we’re also so much more than that ✨). With Money, you get a Daily Transaction Account, Savings Accounts (up to 15 in fact), and a minty fresh debit card (all issued by Westpac)1. But you also get personalised insights and stories which visualise your spending and savings data, in-app prompts and inspiration to help you on your unique money journey.✨
Is Money by Afterpay a bank/ bank account?
The thing is, nothing quite like Money has ever launched in Australia before. So let’s break it down:
Money by Afterpay is not a bank. We’ve partnered with Westpac who issue the Daily Transaction Account, Savings Accounts, and a minty fresh debit card.
Money by Afterpay is an experience which means you can spend, save, budget, and view your Afterpay Buy Now Pay Later (BNPL) orders all in one place. You'll get personalised insights into your money with My Money Stories and never-before-seen features like Afterpay Retro to help you on your unique money journey.
What is your relationship with Westpac?
To bring Money to life, we partnered with Westpac. The Daily Transaction Account, Savings Accounts, and that minty fresh debit card are all issued by Westpac.
Do I need an Afterpay account?
Yes, you do. You need a valid Afterpay Buy Now Pay Later (BNPL) account. That's because you'll use your Afterpay email and password to sign up for Money. But the good news is it's quick and easy to set up an account (we promise!). If you don't have an Afterpay BNPL account (or forgot those pesky login deets), you can set one up or reset your password here.
Is Money the same as Afterpay?
No, the Money by Afterpay app and accounts are separate from your Afterpay Buy Now, Pay Later (BNPL) app and account. But they are linked, so your Money app will include all your upcoming Afterpay payments and remaining balance. This makes it even easier to see the big picture when it comes to spending, putting you in control.
What is Retro?
Retro is an exclusive Money by Afterpay feature, which allows you to create Afterpay orders from eligible transactions you’ve made from your Money debit card within the past 72 hours. You can use up to $200 of your Afterpay Buy Now, Pay Later (BNPL) spend limit for Retro. You then pay your Retro’d transactions off in 4 instalments.
For example, if you purchased a dress for $200 and want to “Retro It,” you can request a claim and if approved, Afterpay will deposit $200 into your Daily Account, and you will need to pay off the Retro’d transaction in 4 payments of $50 each3.
Oh, and you can also use it on things like groceries and bills (very handy).
