Welcome back @MC1
I have moved your post into this already existing topic on BNPL schemes. There are a couple of topics on the site that discuss the schemes.
Zippay and Zipmoney as examples both have account keeping fees attached to accounts that extend beyond a month, most do have charges for late payments and missed payments and these can become quite substantial.
There are some references in other topics and one that particularly references your Humm one
And the external link referenced in the post:
Humm buy now, pay later – 2021 Shonky Awards | CHOICE
In reference to the collection fee a quote from the CHOICE article should help interpret that:
" Humm can happily report you to debt collection agencies (and slug you a $30 collection fee for the privilege) if you default on your account, which will affect your credit rating."
I can’t find anything about balancing fees on their site but they do charge a $22 fee if you use Humm again for a large purchase and have had a previous large purchase with them (what they call Big Things purchases). They also charge a one off $2 fee for BPay payment transactions.
The $44 that was paid is the establishment fee they charge to set up a Big Things account (which can vary from $35 to $90).
Late fees are capped at 18% of the purchase price or up to $78 (which ever is lower) for Big Things purchases they say on their site.
