Merchant Facility VISA/MC rates. What is a good deal?

constipated on 04/05/2017 - 11:32

Anyone with a small business and a CC merchant facility who can advise me what is a good rate to be charged for CC VISA and MC facilities.

Currently I'm with CBA and have been so for >5 years.

They are charging 1.1% fee for VISA/MC. I share a terminal with a colleague at the office because we are both with CBA. It's not a package but goes into a Business account with $10 per month fee.

Is there any likelihood of negotiating a better rate with CBA eg <1%? Volumes are about $4000 per week.

Financial

Comments

  • boomramada on 04/05/2017 - 14:22

    https://www.ozbargain.com.au/node/304696 <— similar question?

  • Baysew on 05/05/2017 - 11:39
    +1

    Unless you are on a CBA "Simple Merchant Plans" your fees will vary depending on what sort of card is used. (eg. Visa Super Premium had super high fees on acceptance)

    1.1% fee doesn't sound to bad. If you are a member of trade organisation, you may get a better deal.

    I moved from CBA to Tyro. Higher monthly terminal cost, bit lower on some card types. (YMMV)

    Link to other question was for Gateway rates - they are around 1.9%.

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