Note: May not be current, please check with your financial institution

Charges ANZ CBA Westpac NAB St George BankSA Bankwest
Merchant Service Fee % (MSF) 1.60% 1.60% 1.40% 1.60% 1.39% 1.60% 1.40%
Minimum MSF (per Month) $29 $20 $22 $7 $29 $29 $25
Transaction Fee N/A 14c N/A 10c 11c 0 0
Chargeback Fee $25 $30 $33 $25 N/A $0 $20
Account Closure Fee $250 $110 $550 $250 $550 $550 $363
Bank Account Required No No Yes No No No No
Establishment Fee $99 $79 $110 $80 $121 $121 $0

 

 

Considerations

 

1. Most banks may charge a different MSF depending on the type of card you accept. For instance CBA charges the following different rates:

Electronic 1.45% 1.45%
Micropayments 1.56% 1.45%
Scheme debit 1.19% 1.42%
Hand keyed 1.61% 1.45%
Premium cards 2.00% 2.02%
Business cards 2.27% 2.24%
International 2.87% 2.59%

2. Not all banks will refund the complete MSF on premium cards, therefore if you need to do many refunds we would avoid such accounts.

3. Latest Rates

ANZ charge the following variable rate based in the card type:
Visa/Master Credit card Std - 1.185% Premium - 1.873% Premium Plus - 2.611%
Visa/Master Debit card Std - 0.937% Premium - 1.796%
Monthly Fee - $29.00 Establishment Fee - $ 99.00

Westpac are offering the following Interchange rate based plan
$110.00 Establishment Fee
0.45% MSF + Interchange fees depending on cards
$22.00 per month participation fee

Check the Interchange Rates here

We would like to keep this list up to date so if you get a better deal than mentioned here, please let us know and we will update the information.