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Finance and Accounting

CBA: Waiving Merchant Fees

Summary

CBA is here to support our customers and are waiving Merchant fees automatically for eligible business and community customers with an EFTPOS device or eCommerce facility from March to May 2020. Eligible customers will be contacted directly before the end of March. How do I know if I am eligible? Effective 25 March 2020, we’ll apply the automatic waiver to any business who: a) have been Government ordered to shut down, which includes: Registered and licensed clubs, licensed premises in hotels and pubs, casinos and nightclubs Cinemas and entertainment venues Auctions and open house inspections Personal services such as beauty therapy, tanning, massage and tattoo parlours (but not physiotherapy) Outdoor and indoor markets, although “major food markets” (the prime minister cited Sydney’s Flemington market as an example) will be addressed by states and territories Amusement parks and arcades, and indoor and outdoor play centres Galleries, museums, libraries and swimming pools Gyms and indoor sport venues Places of worship b) have been impacted by restrictions due to Government ordered change of operations, which includes: Hairdressers and barbers Boot camps and personal training Restaurants and cafes Business related to weddings and funerals We continue to stand shoulder to shoulder with the Reserve Bank, the Government, and the Australian Banking Association, and will review this list as the situation evolves in order to support your business. What fees are being waived? Customers with a Simple Merchant Plan: Your Simple Merchant Plan fee: this is the flat rate fee paid monthly. It may be $30, $60, $90, $120 or $150 depending on your agreement Any excess transaction costs: these are the 1.5% transaction costs which are incurred when you go over your cap limit Stationary costs: Only applicable for customers who have an EFTPOS terminal and require printer tally rolls Additional terminal Rental fee: $29.50 per additional terminal Chargeback fees Customers who are not on a Simple Merchant Plan: Your merchant terminal rental costs: Monthly fee charged for each terminal you have, costs will vary depending on the terminal type. This cost is not applicable for eCommerce products The minimum monthly Merchant Service Fee: this cost is unique to each business and can be located within your Fee Schedule Stationary costs: Only applicable for customer who have an EFTPOS terminal and require printer tally rolls The Monthly Access Fee: this cost is unique to each business and can be located within your Fee Schedule. This cost is only applicable for BPOINT, CommWeb and Internet Merchant Account customers Which fees still apply? Customers who are not on a Simple Merchant Plan: Transaction fees Chargebacks fees
CBA is here to support our customers and are waiving Merchant fees automatically for eligible business and community customers with an EFTPOS device or eCommerce facility from March to May 2020.

Eligible customers will be contacted directly before the end of March.

How do I know if I am eligible? Effective 25 March 2020, we’ll apply the automatic waiver to any business who:
a) have been Government ordered to shut down, which includes:
  • Registered and licensed clubs, licensed premises in hotels and pubs, casinos and nightclubs
  • Cinemas and entertainment venues
  • Auctions and open house inspections
  • Personal services such as beauty therapy, tanning, massage and tattoo parlours (but not physiotherapy)
  • Outdoor and indoor markets, although “major food markets” (the prime minister cited Sydney’s Flemington market as an example) will be addressed by states and territories
  • Amusement parks and arcades, and indoor and outdoor play centres
  • Galleries, museums, libraries and swimming pools
  • Gyms and indoor sport venues
  • Places of worship
b) have been impacted by restrictions due to Government ordered change of operations, which includes:
  • Hairdressers and barbers
  • Boot camps and personal training
  • Restaurants and cafes
  • Business related to weddings and funerals
We continue to stand shoulder to shoulder with the Reserve Bank, the Government, and the Australian Banking Association, and will review this list as the situation evolves in order to support your business.

What fees are being waived?
Customers with a Simple Merchant Plan:
  • Your Simple Merchant Plan fee: this is the flat rate fee paid monthly. It may be $30, $60, $90, $120 or $150 depending on your agreement
  • Any excess transaction costs: these are the 1.5% transaction costs which are incurred when you go over your cap limit
  • Stationary costs: Only applicable for customers who have an EFTPOS terminal and require printer tally rolls
  • Additional terminal Rental fee: $29.50 per additional terminal
  • Chargeback fees
Customers who are not on a Simple Merchant Plan:
  • Your merchant terminal rental costs: Monthly fee charged for each terminal you have, costs will vary depending on the terminal type. This cost is not applicable for eCommerce products
  • The minimum monthly Merchant Service Fee: this cost is unique to each business and can be located within your Fee Schedule
  • Stationary costs: Only applicable for customer who have an EFTPOS terminal and require printer tally rolls
  • The Monthly Access Fee: this cost is unique to each business and can be located within your Fee Schedule. This cost is only applicable for BPOINT, CommWeb and Internet Merchant Account customers
Which fees still apply?
Customers who are not on a Simple Merchant Plan:
  • Transaction fees
  • Chargebacks fees
If I’m not eligible, how to I request the waiver?
If you’re facing financial difficulty you can request to waive your fees for 90 days by contacting your Relationship Manager or our Merchant Support Team on 1800 230 177.
CBA: Waiving Merchant Fees CBA: Waiving Merchant Fees <strong>If I’m not eligible, how to I request the waiver?</strong><br />If you’re facing financial difficulty you can request to waive your fees for 90 days by contacting your Relationship Manager or our Merchant Support Team on 1800 230 177. P458 https://www.savvysme.com.au/marketplace/images/detailed/1/blob_wocj-o3.png 0.000000 2020-08-06