Frequently Asked Questions
This section contains some Frequently Asked Questions pertaining to Zero Bank Fees and our offerings. If you cannot find an answer to your question, do not hesitate to contact us. Click on a question to view the answer.
YES our terminals are the latest technology on the market made by the world’s largest manufacturer.
Our terminals work on mobile technology and require no phone line.
Customers complain when their expectations are not met. Our customer care team will send you a sign to display at the Point of Sale to correctly inform customers of the surcharge. This ensures your customers are well informed and you are compliant with the Reserve Bank of Australia.
It is natural for some customers at first to comment, however we see that the majority make no comment or have no issue as surcharge has been in place since 2003 and used in almost all industries in Australia.
You have two options here.
Option 1: You can opt to not charge the customer the surcharge and absorb the surcharge rate (just like you currently do with the credit card and interchange fees) OR
Option 2: Continue to charge the surcharge and you may not lose the customer.
Merchants constantly give us the feedback that the amount of money saved far outweighs a lost customer here or there.
Example savings are displayed below (at the bottom of the FAQs), speak with your account expert to calculate savings specifically for your situation.
How the Figures stack up…
| Monthly Credit Card Sales | Bank Fees Example | Interchangeable Bank Fees Average % | Bank Fees you can save per month (range) | Bank Fees you can save per year |
|---|---|---|---|---|
| $20,000 | 0.6% to 1% | 0.19% to 2.5% | $280 to $400 | $3,360 to $4,800 |
| $60,000 | 0.6% to 1% | 0.19% to 2.5% | $840 to $1,200 | $10,080 to $14,000 |
| $100,000 | 0.6% to 1% | 0.19% to 2.5% | $1,400 to $2,000 | $16,800 to $24,000 |
| $500,000 | 0.6% to 1% | 0.19% to 2.5% | $7,000 to $10,000 | $84,000 to $120,000 |
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