
What is Afterpay’s Money App and how does it work?
On this page:
- What is Money by Afterpay?
- Who can use Money by Afterpay?
- How do I get Afterpay Money?
- Is Money by Afterpay a bank account?
- Does Afterpay Money offer savings accounts?
- How does Money by Afterpay help you save money?
- What’s the interest rate on the Afterpay Money savings account?
- What special features does Afterpay Money offer?
- Can anyone use Afterpay Retro?

Update: Afterpay Money is no longer in operation. For current Afterpay services, please refer to our main BNPL hub.
Buy now pay later (BNPL) giant Afterpay has launched its online banking platform in Australia and the new money and lifestyle app called Money is available now to Afterpay customers.
Afterpay research showed that three-quarters (74%) of Gen Z believed they’d be better at saving if they had a tangible end goal and one-third (34%) said their transaction account would be improved with personalised features. Money aims to offer just this to help younger Australians gain financial security.
Whether you’re a loyal Afterpay BNPL customer who’s interested in the brand’s expansion of services, or you’re new to Afterpay but curious about their alternative digital banking options, it’s good to know exactly what Money is.
So, let’s break down the must-knows of Afterpay Money.
What is Money by Afterpay?
Money by Afterpay is a money management app, offering Millenial and Gen Z-targeted banking services, focused on budgeting and saving.
Who can use Money by Afterpay?
Money is only available to Australian residents aged 18 or older who also have a valid Afterpay BNPL account. To apply for a Money account, you must also have an Australian residential address, an Australian mobile number and a valid email address.
How do I get Afterpay Money?
The app can be downloaded on the App Store for iPhone users, and an Android version is yet to be released. To join Money, customers need to have an Afterpay account - or sign up for one - and then use their Afterpay email and password to log into the Money app.
Is Money by Afterpay a bank account?
Yes, Afterpay is working in collaboration with Westpac, which is acting as the regulated deposit account and card issuer for Money. Users can manage one daily account with a physical debit card, digital wallet offerings and the ability to easily make and receive real-time payments with no fees.
Does Afterpay Money offer savings accounts?
Yes, Money customers can set savings goals in up to 15 separate savings accounts.
How does Money by Afterpay help you save money?
Firstly, by helping you set up 15 tangible savings goals so that you can easily visualise what you are working towards. Additionally, Money helps you save while you spend. The app uses Roundups and Multipliers, which offers to add micro amounts to your everyday transactions and then transfers them into your savings. You can also automate this process if you like.
What’s the interest rate on the Afterpay Money savings account?
The interest rate on the Afterpay Money savings accounts is 0.75% p.a., subject to a combined total balance of $50,000 across all savings goals.
What special features does Afterpay Money offer?
Afterpay Money is loaded with additional tools and features designed to be engaging and help you make responsible financial decisions.
Firstly, there are Money Stories, which provide you with a regular and engaging visual summary of spending, saving and income, and BNPL balance. It ensures you have a full understanding of where you stand daily and weekly.
Customers also have access to Money Diaries, provided by the popular online publication Refinery29, which offers insights into how other people spend and save.
The app also offers what Afterpay calls “Superpowers”. The first is Afterpay Retro: Afterpay users can retrospectively decide to pay off a transaction they've made in four instalments using BNPL - which the platform claims is a world-first.
The second is an Afterpay rewards points scheme called Pulse. Through the Money app, you can earn points for making good money choices, such as sustainable spending and setting up savings goals. Pulse also offers discounts from popular brands and early access to exclusive sales, online and in-store.
The third “Superpower” is Afterpay Order, which lets you track all of your Afterpay orders. As it is all in one place, you can know exactly how much is available, how much is owing, and when everything’s due.
Can anyone use Afterpay Retro?
To have access to the Retro feature of the app, you must maintain a Money by Afterpay Daily Account with at least one eligible transaction, and have an Afterpay account in good standing. You cannot have exceeded the Retro limit of $200 and also must have paid 25% of at least one previous Afterpay order.
Are you looking to take charge of your finances and start saving? Head to Mozo’s savings account hub for comparisons and check out some top savings accounts below.
Compare bank accounts - last updated 9 December 2023
-
AMP Cash Manager
$0.00
Apple Pay, Google Wallet, Samsung Pay
0.60% p.a.
Earn up to 4.80% p.a variable rate with AMP Cash Manager on balances from $10,001 to $250,000. Manage and access your funds while earning interest. No transaction fees to pay. Visa debit card, eftpos, and BPAY facilities. Digital wallet payments with Apple Pay, Samsung Pay or Google Pay.
CompareCompareAMP Cash Manager
Earn up to 4.80% p.a variable rate with AMP Cash Manager on balances from $10,001 to $250,000. Manage and access your funds while earning interest. No transaction fees to pay. Visa debit card, eftpos, and BPAY facilities. Digital wallet payments with Apple Pay, Samsung Pay or Google Pay.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, Samsung Pay
- interest rate
- 0.60% p.a.
- ATM networks
- None
- What kind of card?
- Visa Debit or
EFTPOS
- Interest rate
- Balances from $0: 0.60% p.a.
Balances from $10,000.01: 4.80% p.a.
Balances from $250,000.01: 4.35% p.a.
Balances from $5,000,000.01: 0.00% p.a.
- Fee free transactions
- Unlimited free transactions from internet, phone, EFTPOS, AusPost deposit.
Read our Mozo Review to learn more about the AMP Bank AMP Cash Manager
-
Glide Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.
Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
CompareCompareGlide Account
Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin
- interest rate
- 0% p.a.
- ATM networks
- MyState
- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Unlimited free internet transactions.
Read our Mozo Review to learn more about the MyState Bank Glide Account
-
Wisdom Saver Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit, Garmin
0.05% p.a.
IMB’s Wisdom Saver Account is a high interest transaction account available to members 55 years or over, or members who receive an eligible permanent pension. Enjoy unlimited fee free IMB transactions (T&Cs apply). Great interest rates and at-call access to your money. No monthly account keeping fees. Access to real time payments through Osko. Free Internet, Mobile, and Phone Banking.
CompareCompareWisdom Saver Account
IMB’s Wisdom Saver Account is a high interest transaction account available to members 55 years or over, or members who receive an eligible permanent pension. Enjoy unlimited fee free IMB transactions (T&Cs apply). Great interest rates and at-call access to your money. No monthly account keeping fees. Access to real time payments through Osko. Free Internet, Mobile, and Phone Banking.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit, Garmin
- interest rate
- 0.05% p.a.
- ATM networks
- IMB
- What kind of card?
- Visa Debit or
EFTPOS
- Interest rate
- Balances from $0: 0.05% p.a.
Balances from $10,000: 1.65% p.a.
Balances from $50,000: 2.05% p.a.
Balances from $250,000: 2.55% p.a.
- Fee free transactions
- Unlimited transactions from counter deposits and withdrawals, phone, internet, purchases and network ATMs. $2 monthly transaction allowance for customers outside postcodes 2500 to 2580
Read our Mozo Review to learn more about the IMB Bank Wisdom Saver Account
-
Mozo experts choice awards won:
- Travel Debit Card - 2023
Everyday Options
$0.00
Apple Pay, Google Wallet, PayID
0.01% p.a.
An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
CompareCompareEveryday Options
An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID
- interest rate
- 0.01% p.a.
- ATM networks
- Suncorp
- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
Balances from $1: 0.01% p.a.
- Fee free transactions
- Unlimited free transactions from own-bank ATM, atmx ATM, Big 4 banks ATM, EFTPOS, counter withdrawals, counter deposits, phone and internet
Read our Mozo Review to learn more about the Suncorp Everyday Options
-
Spend Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay
0% p.a.
No monthly fees and no charges for overseas or online payments from ubank. Stay one step ahead with ubank’s spending insights and bill prediction. Apple Pay and Google Pay compatible. Deposits guaranteed up to $250K per customer.
CompareCompareSpend Account
No monthly fees and no charges for overseas or online payments from ubank. Stay one step ahead with ubank’s spending insights and bill prediction. Apple Pay and Google Pay compatible. Deposits guaranteed up to $250K per customer.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay
- interest rate
- 0% p.a.
- ATM networks
- none
- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Unlimited eftpos, debit, ATM, and banking app transactions using internet banking or the ubank iOS or Android app.
Read our Mozo Review to learn more about the ubank Spend Account
^See information about the Mozo Experts Choice Bank Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.