EFTPOS 1 plans
What you get
- Establishment fee waived1 – saving you $82.50.
- Flexible plans that let you change at any time5.
- No minimum term2.
- Business One Low monthly account fee waived for the first 12 months while on a Merchant Pricing Plan4 – saving you $120.
- Apply online in 15 minutes by choosing a plan with a Transaction Limit amount that suits your monthly turnover for Visa, Mastercard and eftpos card payments.
- Our monthly plans don’t include any lock in contracts5, making it easier for you to move between plans.
- There is no limit to the number of payments you can take, but a 1.5% fee applies to eftpos, Visa and Mastercard payments that are processed over the Transaction Limit in your plan in a calendar month. Payments from other card types have separate rates and don't fall within the Transaction Limit.
- Most customers receive their EFTPOS 1 merchant facility within 5 business days of submitting their application and verifying their ID online (see accepted forms of ID).
Fees by card type
|Card Type||Fee within
- Additional fees also apply as described in your guide to merchant fees and charges.
- Other fees such as stationery fees, chargeback fees and voice authorisation fees.
- A separate fee applies to other card types.
- The cost or replacing a lost or damaged eftpos device is $700.
- The cost to close your EFTPOS 1 account is $104.50.
Need help choosing the right plan for your business? Make an enquiry.
Case study: Claire selling clothes at the markets
Claire sells handmade clothes at the markets on the weekend and her turnover averages $5,500 per month. Her customers want to pay by eftpos, Visa or Mastercard for about 70% of those transactions, making a total of $3,850.
Claire chooses the $55/month plan, with $3,500 of included transactions. Because she exceeds the Transaction Limit of the plan she pays a 1.5% fee on the additional $350, which comes to $5.25. The direct cost of her eftpos, Visa and Mastercard transactions for the month is:
Direct transaction cost on $55/month plan for $3,850 in transactions
$55 (participation fee)
+ $5.25 (additional fees)
Three months later Claire's business is booming so she switches to the $85/month plan, with a $6,000 Transaction Limit, as she expects her turnover of eftpos, Visa and Mastercard transactions to be higher at $7,000. Because she exceeds the Transaction Limit of the plan ($6,000), she pays a 1.5% fee on the additional $1,000, which comes to $15. The amount Claire paid to accept eftpos, Visa and Mastercard transactions is:
Direct transaction cost on $85/month plan for $7,000 in transactions
$85 (participation fee)
+ $15 (additional fees)
Please note there are additional charges associated with other card types, plus other fees may apply such as stationery fees, chargeback fees and voice authorisation fees.
Things you should know
Applications for merchant services are subject to approval. Terms and conditions and fees and charges apply. Full details are available on request.
1. The Establishment Fee will be waived for successful application for a new Merchant Facility with an EFTPOS 1 standalone terminal (excludes EFTPOS 1i) on a Merchant Pricing Plan. Eligibility criteria apply for a Merchant Facility and Merchant Pricing Plans. This offer may be withdrawn or varied at any time.
2. Cancellation fee applies.
3. Westpac instant settlement functionality is not available between 9:30pm and 11:59pm (Sydney time) for all EFTPOS 1 terminals and is not available between 9:30pm and 11:00pm (Sydney time) for all other terminal types. You can only settle a Westpac issued EFTPOS terminal once within a 24 hour period. Subject to system availability, settlement can take place 7 days a week. Settlement must be to a Westpac account. Instant settlement functionality is not available on Corporate Online and is only available for Visa, Mastercard and eftpos transactions (excludes Dynamic Currency Conversion transactions).
4. The monthly account fee, currently $10 per month, for your Business One Low account will be waived for the first 12 months while you continue to hold and settle a Merchant Facility on a Merchant Pricing Plan. After the end of 12-month period, the standard monthly account fee (applicable at that time) will be applied. The Business One Low account must be in the same name as the Merchant Facility. This offer is not applicable for any other account type and for a single account per Merchant Pricing Plan only. All other account fees and charges apply. Where you do not hold a Business One Low account or cease to hold a Merchant Facility on a Merchant Pricing Plan, the standard monthly account fee will apply for the account. We may withdraw or vary any benefit under this offer by providing you 30 days’ written (including electronic) notice. This offer may be withdrawn or varied at any time.
5. Changes to merchant pricing plans are effective from the following month.
^To be eligible for the Westpac Merchant Pricing Plan you must hold and settle into a Westpac business transaction account in the same name as the Merchant Facility. Not available for use outside of the indirect tax zone. One terminal per Merchant Pricing Plan, per Merchant and available for EFTPOS 1 products only.
Transaction Limit means the total maximum dollar value of Visa, Mastercard and eftpos transactions that can be processed through your Merchant Facility per calendar month included in the Participation Fee. If the Transaction Limit is exceeded in a calendar month, a 1.5% fee applies to the total dollar value of Visa, Mastercard and eftpos transactions processed that exceeds the Transaction Limit. Other card types are not included in the Westpac Merchant Pricing Plans and are subject to separate pricing.