This merchant services Pricing Comparison service is provided exclusively to Retail Drinks Australia (RDA) members.
A Pricing Comparison compares your current merchant services fees with the range of alternative service providers listed below. All pricing comparisons provided using this service incorporate least-cost routing as a standard feature.
Overview
Suncorp Bank has a proud history of supporting Australian businesses of all sizes, from family-run operations to large-scale development finance and agricultural enterprises. The bank has been recognised as the Money magazine Bank of the Year and Business Bank of the Year in 2018, 2019, 2020 and 2021.
Key Strengths
- Simple pricing with one rate for all credit card transactions and a debit card transaction fee.
- Least-cost routing to reduce merchant fees by routing debit card contactless transactions through the lower-cost network within set transaction limits.
- Same day settlement seven days a week, when credited to a Suncorp Bank Business Premium Account (for card sales processed prior to 9pm AEST).
- Business Premium Account with $0 monthly account keeping fees and no electronic, staff assisted and cheque transacting fees.
- Multi-merchant capability, with up to 11 merchants using the same terminals.
- Solution for health businesses to process private health fund claims, Medicare claims and credit and debit card transactions through the EFTPOS terminal.
- Choice of broadband (IP), mobile (GPRS) or mobile (WiFi) terminal connectivity.
- Dedicated technical support.
Useful Links
Merchant Services
In-Store Payments
Online Payments
Tools & FAQs
Settlement time frames and Settlement cut-off times
- Suncorp Business Bank accounts: 7 days per week same day settlement, 9 pm AEST settlement cut-off; Non-Suncorp bank accounts, 7 days per week next business day settlement, 9 pm AEST settlement cut-off.
- Settlements between 9pm and midnight are not allowed
How to Apply
If you find Suncorp the most suitable payments service provider for your business, please send an email to Robyn Shorten, Deposit & Payment Specialist at Suncorp using the email wording below. Attach the Suncorp Merchant Services Pricing Report from us and cc pricing@paymentsconsulting.com in your email.
Email address: robyn.shorten@suncorp.com.au
Hi Robyn,
We have been referred to by Payments Consulting Network after using their Merchant Advisory Pricing Comparison Service. Please see attached the Suncorp Merchant Services Pricing Report they have provided to us. We would gladly appreciate your response regarding the next steps so that we can commence the application process.
Looking forward to hearing from you soon. Thank you.
Regards,
[Signature]
To use this service, please confirm that you are an RDA member and complete the contact form below to provide information on your organisation and copies of relevant merchant statements (refer to the FAQ to understand what needs to be submitted).
Merchant services fee structures are complex and the underlying costs are subject to change (e.g. interchange fees and scheme fees typically change annually) and the competitive dynamics of the market also mean that payment service providers will update their pricing at times to respond to changes. Hence, it is common for merchant statement formats to change. Our Pricing Comparison fee savings calculator can support many merchant statement formats already, and if your merchant statement is already supported then we can email you the report within 3-5 business days. However, if it is a new merchant statement format, then it can take us 2-3 weeks to update the fee savings calculator to support this. We let you know if this is the case and appreciate your patience during this time.
Enquiry links associated with the pricing outlined in the Pricing Comparison will be provided in the report to enable you to easily commence the application process should you decide to do so.
If you are not an RDA member, you can still complete the contact form and provide copies of relevant merchant statements and we will provide you a summary report of potential fee savings with the payment service provider names anonymised (e.g. Payment Service Provider #1). Once you become an RDA member, you can ask your RDA account manager to advise us and we will email you the full Pricing Comparison reports (i.e. you will not need to resubmit a form or merchant statements).
This service is provided exclusively to RDA members by Payments Consulting Network as a free community service as part of our Giving Program. As such, please consider these terms and conditions.
