Mobile Menu
Locate
Contact
Rates
News

Contact

Call

1300 004 863

Mon-Fri: 8am-5:45pm
Sat: 9.30am-12pm
(branch hours vary)

Hume Connect (phone banking)

1300 551 619

Fax

F (02) 6051 3255

Email

E [email protected]

Contact Us

Rates

Need a home loan?

Spend time doing what you love, we'll make it easy and come to you.

Book appointment

Fixed Home Loans

Rates From:
1.99%^pa

Comparison rate*
3.34%pa

^Terms, conditions and lending criteria apply *Click for important information about comparison rate.

View All

Variable Home Loans

Rates From^
2.29%^*pa

^Terms, conditions and lending criteria apply *Click for important information about comparison rate.

View All

Term Deposits

100 day special
0.40%pa

Min investment of $5,000+

Learn More

Personal Loans

Rates From
4.95%pa

Comparison rate*
5.16%pa

*Click for important information about comparison rate.

Learn More

Personal Credit Cards

Rates From*
11.95%pa

*Interest rate on purchases

View All

Personal Savings

Base Rate
0.50%pa

Bonus Rate Conditions apply.

Learn More

Buy now, pay later, and what you should know.

Hume Bank
27/11/2020

It’s exactly as it sounds, ‘buy now, pay later’ services allow customers to purchase items immediately but delay the payments in blocks to stretch the cost out. At a first glance these might seem like a good idea, but it’s important to know about all the associated fees and what to do to avoid any financial trouble.

There are lots of pay-later providers out there at the moment, some include,

  • Afterpay
  • zipPay
  • BrightePay
  • PayRight
  • Openpay
  • Humm (previously known as Certegy Ezi-Pay and Oxipay) 
  • Make It Mine
     

Now these payment services aren’t your traditional ‘loans’, but if you can’t make the repayments on time the costs can start to pile up in other ways. Each provider is different, so be sure to read their individual Terms and Conditions.

Here’s some of the most common ways they can charge their customers,

  • Late fees – these are usually charged if you can’t meet one of your periodical payments.
  • Monthly account-keeping fees – small fixed charges for every month, so you can continue to use their service.
  • Payment processing fees – you may be required to pay a small fee for each payment, on top of your set repayments.
     

It’s important to not only know the service provider well, but to also understand your own spending behaviour to make the best choice. If you follow the three steps below, you’ll be able to safeguard yourself against any pay-later mishaps,

  • Plan ahead – making sure that these payments (including the future ones) will fit into your budget is a good start, alongside any other bills or financial commitments that may come up at the time.
     
  • Don’t get into debt – consider linking your debit card to your Buy Now, Pay Later service instead of a credit card. This way you’ll only spend the money you know you have.
     
  • Don’t overcommit – we know it’s enticing, but put a limit on your spending and the amount of services you sign up for.
     

Make sure that you do your research before signing up to these services. If you’re ever unsure on if it’s the right thing for you, reach out to us on 1300 004 863 or by visiting us in branch, our staff can help talk through some alternative options we might have to help you reach your goals.