Question 1

What business accounts do you offer?

Accepted Answer

We have business accounts to assist your business’s financial goals. From Everyday Savings Accounts to Trust Accounts, we’ve got your needs covered with our business accounts.

We offer a Business Everyday Account, Business Premium Account and Business Saver Account, each which can be managed and applied for online. Compare our business accounts to learn the difference.

Question 2

What are my business account limits?

Accepted Answer

Your business account limit is the set maximum amount of money that can be externally transferred from your business account on a daily basis. This includes external transfers and business payments.

For example, if you place a $20,000 account limit on a business account, only $20,000 can be transferred via business payments, external transfers and transfers to other Suncorp Bank accounts regardless of your daily limit.

If you do not have a business account limit, the set maximum amount of money that can be externally transferred is your set personal daily limit.

Question 3

How can I avoid paying monthly account keeping fees on my business accounts?

Accepted Answer

To avoid paying monthly account keeping fees on your Business Everyday Account, maintain an average monthly balance of $2,000 or more.

If you have our Business Premium Account, you can avoid the $20 monthly account keeping fee by depositing $50,000 or more each month.

Question 4

How can I deposit funds into my business account?

Accepted Answer

You can deposit funds to your account by:

cash, cheque or money order
automatic direct deposit
cash or cheque at any Suncorp Bank deposit ATM
cash or cheque at any Australia Post Bank@Post outlet
internet Banking, Telephone Banking and Funds Transfer
cash or cheque at any Suncorp Store.

For more information on our Business Everyday, Business Premium or Business Saver Account, please compare business accounts or see the terms and conditions.

Question 5

How can I open a bank account for my business?

Accepted Answer

Opening a business account is easy. Head over to the the Business Everyday & Savings Account page to open a Business Everyday Account, Business Premium Account or Business Saver Account.

For enquires into other business accounts, simply contact us or visit us at a Suncorp store to connect with a business specialist.

Question 6

How do I avoid being charged an overdrawn fee on my business transaction account?

Accepted Answer

You can set up an insufficient funds sweep (transfer) to move money from a nominated account. This ensures you’re always covered if one account doesn’t have enough money to cover a direct debit or personal cheque.

Put simply, an insufficient funds sweep reduces the risk of you overdrawing on your account and being charged a fee.

You can set up your insufficient funds sweep by visiting a Suncorp store or by sending a secure message to our Internet Banking team.

Question 7

Is there a charge for depositing cash or cheques at a Suncorp store?

Accepted Answer

No, there isn’t a charge for depositing cash or cheques at a Suncorp store. Your deposits are fee-free with any of our Business Everyday, Business Premium and Business Saver Accounts.

Question 8

What documents or ID do I need to open an account for my business?

Accepted Answer

If you already have a business account in the same business name, we’ll have enough information to open another account.

However, If you’re new to Suncorp Bank or your current account is in a different business name, we’ll need more documentation to open a business account for you.

You can check which identification documents are required. Alternatively, contact us or visit your nearest Suncorp store.

Question 9

Which business account has the option for a cheque book?

Accepted Answer

We offer cheque books for the following business accounts:

Business Everyday
Business Premium Accounts

To view and compare business accounts, please visit our Compare Business Accounts page.

Question 10

Which business banking products can receive eStatements?

Accepted Answer

eStatements are available for:

Business and Agribusiness Overdrafts
Small Business Loans
Farm Management Deposit Accounts
Business Bank accounts.

For Business transaction and savings accounts, statements are generally issued quarterly.

Please contact us to discuss other options.

Note: eStatements are not available for merchant services; trust accounts; commercial, agribusiness, or equipment finance loans; or self-managed super funds.

Question 11

How can I download statement or transaction information to use with my financial accounting software?

Accepted Answer

You can view, print and download your transaction information via Internet Banking. You may be able to retrieve up to 2 years of transactions depending on your account type.

To download or export transactions from Internet Banking:

Log on to Internet Banking
Select Transaction History from the left-hand menu
Select the account you wish to search, enter the period you wish to search, then click search
Once your results are presented, click the 'Download Transactions' link.

You can save your results in CSV, OFX, QIF and ASCII formats to match your accounting software preferences.

Question 12

What do I need to complete online business payments?

Accepted Answer

To complete online business payments, you’ll need:

An eligible business account
A Security Token
APCA Credit ID

To apply for an APCA ID, please contact us or visit your nearest Suncorp store.

Question 13

What is an Australian Banking Association (ABA) file, and how do upload one?

Accepted Answer

An Australian Banking Association (ABA) file is a standard of file used by Australian Banks to make multiple payments for uploading data to Internet Banking systems.

If you want to upload business payment transactions, you’ll need an accounting package or software that can export in the ABA format.

Question 14

When exporting business transactions, which option do I choose?

Accepted Answer

For spreadsheet use, we recommend the CSV format. If you're using an accounting package, the QIF format may be a required option.

Please refer to your software for preferred format options.

Question 15

How do I use Business Payment credit in Internet Banking?

Accepted Answer

You can access business payment credits from the left-hand menu in Internet Banking. You can use them in the following ways:

Manual Entry: Create business payment templates.
Saved Template: Customers must choose the account the to which the template is saved and can edit payment details.
File Upload: Upload payments from accounting software (such as MYOB) to make payments through Internet Banking (Upload in .ABA format).
Manage my business payments template: You can delete and mange edits.
Search business payments history: You can perform transaction searches (up to 1 year) on business payments,
Payments awaiting approval: You can approve or delete payments.
Future dated payments: View any futured dated Business Payments here as well as delete these payments.

Question 16

How can I offer my customers BPAY as a way of paying me?

Accepted Answer

To become a BPAY® Biller or to discuss your requirements, you can enquire online, contact us or visit your nearest Suncorp store.

Question 17

How do I get my BPAY® details on my invoice system?

Accepted Answer

Here the steps for getting your BPAY® details on your invoice system:

Send out your bill to your customer.
Customers receive your bill.
Customers access their financial institution's internet banking site or phone banking service to make payment via cheque, savings or credit account.
Your financial institution credits your account.
Your business receives funds and payment information.
You then update your accounts receivables system.

Question 18

What are Suncorp business payments?

Accepted Answer

Suncorp Bank Business Payments gives your business the ability to make credit payments via Internet Banking, 24/7.

Suncorp Bank Business Payments Credit enables you to transfer funds from your business account to multiple accounts and is useful for regular transactions like payrolls.

Question 19

Does Suncorp Bank charge for merchant stationery? (EFTPOS terminals only)

Accepted Answer

From 1st November 2018 the following charges will apply for EFTPOS rolls:

Unit Content Price per pack (includes delivery)
10 rolls $10.00
20 rolls $16.00
30 rolls $20.00
40 rolls $24.00
50 rolls $28.00
60 rolls $32.00

The charge for rolls ordered during the month will be applied to your statement on the last day of the month.

Question 20

Does Suncorp Bank offer 'value added services' like 'phone top up'?

Accepted Answer

Yes, Suncorp Bank offers a wide variety of Value Added Services such as Phone Top up, Bartercard, Blackhawk Gift Card stands and Loyalty and Gift Cards.

Question 21

How do I access the Audit Report on my EFTPOS terminal?

Accepted Answer

You can find all the operating instructions and reference guides you need to answer your EFTPOS queries on our resource page for existing merchants.

Question 22

How do I change the Merchant/Terminal Password on my EFTPOS terminal?

Accepted Answer

Here’s how to change your password:

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press FUNC from the Home screen (Mobile VX680) or Press the button under FUNC (Countertop VX520) Type in 90 Press Enter Press 1 for Terminal password Press Enter Type in your current/old terminal password Press Enter Type in your new terminal password Press Enter Confirm your new terminal password Press Enter Your terminal password has now been changed.
Ingenico ict250 and iwl255	Please call 13 11 55 to change your terminal password.

You should change your merchant password regularly for security purposes.

Note: Always remember to protect this password against unauthorised use, as you’ll be liable for all unauthorised transactions.

Question 23

How do I print POS Totals on my EFTPOS terminal?

Accepted Answer

Here’s how to print POS totals:

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press FUNC from the Home screen (Mobile VX680) or Press the button under FUNC (Countertop VX520) Type in 90 Press Enter Press 1 for Terminal password Press Enter Type in your current/old terminal password Press Enter Type in your new terminal password Press Enter Confirm your new terminal password Press Enter Your terminal password has now been changed.
Ingenico ict250 and iwl255	Please call 13 11 55 to change your terminal password.

Note: POS totals will display the totals of all transactions on the terminal since the terminal last settled.

Question 24

How do I order Paper Rolls for my EFTPOS terminal?

Accepted Answer

To order you can either:

1. Go through your EFTPOS terminal (Verifone VX520 and VX680)

Press FUNC from the Home screen (Mobile VX680) or Press the button under FUNC (Countertop VX520).
Type in 86, press Enter
Type in the Number of rolls required in multiples of 10 and press Enter

The terminal will print a receipt confirming your order has been sent. Please note: A maximum of 30 paper rolls can be ordered per day

2. Visit our website

Go to our Merchants Stationary Order Form
Complete the order and click ‘submit’

Note: Manual voucher stationery ordering is only available via our website.

Question 25

How do I process a 'Manual Settlement' on my EFTPOS terminal?

Accepted Answer

Simply follow these steps:

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press FUNC from the Home screen (Mobile VX680) or Press the button under FUNC (Countertop VX520) Type in 90 Press Enter Press 1 for Terminal password Press Enter Type in your current/old terminal password Press Enter Type in your new terminal password Press Enter Confirm your new terminal password Press Enter Your terminal password has now been changed.
Ingenico ict250 and iwl255	Please call 13 11 55 to change your terminal password.

Note: Terminal will settle the transactions since the last settlement, ensure that the settlement says approved or settlement success.

Question 26

How do I process a refund on my EFTPOS terminal?

Accepted Answer

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press MENU from the Home screen (Mobile VX680) or Press the button under MENU (Countertop VX520) Select 3 for Refund Press Enter Type in your Merchant password Press Enter Type in the Refund Amount Press Enter Prompt the customer to Insert or Swipe their card (depends on functionality available on customer card) Select the account type - request the customer to make this selection (if prompted to do so) Press Enter The terminal will ask the customer to type in their PIN number and press Enter or press Enter for the customer to sign the receipt If Approved, the terminal will print the merchant receipt Remove the merchant receipt, hand to the customer to sign the receipt (if prompted to do so by the terminal). Verify the signature if not a PIN transaction Ensure that the transaction receipt says ‘APPROVED’ Press Enter to print the customer receipt (if required) Hand the Customer Copy receipt to the customer (if required)

Note: If Cashier Number has been enabled on your merchant profile, the terminal will request a cashier to be selected after entering the refund amount.

Select the cashier by pressing the corresponding number next to the cashier name, or highlighting the cashier name using the arrows and press Enter.

Question 27

How do I process a 'Void transaction' on my EFTPOS terminal?

Accepted Answer

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press MENU from the Home screen (Mobile VX680) or Press the button under MENU (Countertop VX520) Select 3 for Refund Press Enter Type in your Merchant password Press Enter Type in the Refund Amount Press Enter Prompt the customer to Insert or Swipe their card (depends on functionality available on customer card) Select the account type - request the customer to make this selection (if prompted to do so) Press Enter The terminal will ask the customer to type in their PIN number and press Enter or press Enter for the customer to sign the receipt If Approved, the terminal will print the merchant receipt Remove the merchant receipt, hand to the customer to sign the receipt (if prompted to do so by the terminal). Verify the signature if not a PIN transaction Ensure that the transaction receipt says ‘APPROVED’ Press Enter to print the customer receipt (if required) Hand the Customer Copy receipt to the customer (if required)

Question 28

How do I replace the Paper Roll on my EFTPOS terminal?

Accepted Answer

First, Open the printer cover

Drop the paper roll into the paper holder with paper coming out bottom of roll towards print head
Pull the paper and close the printer cover
Pull and tear the paper against the paper receipt guide
Operate the terminal as normal.

Question 29

How do I reprint a receipt on my EFTPOS terminal?

Accepted Answer

Follow the instructions below to reprint a receipt on your EFTPOS terminal.

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press FUNC from the Home screen (Mobile VX680) or Press the button under FUNC (Countertop VX520) Type in 90 Press Enter Press 1 for Terminal password Press Enter Type in your current/old terminal password Press Enter Type in your new terminal password Press Enter Confirm your new terminal password Press Enter Your terminal password has now been changed.
Ingenico ict250 and iwl255	Please call 13 11 55 to change your terminal password.

Question 30

How do I reprint a settlement on my EFTPOS terminal?

Accepted Answer

Follow the instructions below to reprint a settlement on your EFTPOS terminal.

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press FUNC from the Home screen (Mobile VX680) or Press the button under FUNC (Countertop VX520) Type in 90 Press Enter Press 1 for Terminal password Press Enter Type in your current/old terminal password Press Enter Type in your new terminal password Press Enter Confirm your new terminal password Press Enter Your terminal password has now been changed.
Ingenico ict250 and iwl255	Please call 13 11 55 to change your terminal password.

Question 31

How long before settlement from the EFTPOS terminal reaches my bank account?

Accepted Answer

If your terminal settles before 21:00 (AEST), the funds will be available in your Suncorp account the same day.

When settling into a non-Suncorp account, the funds will be in the account within 48 to 72 hours of settlement.

Question 32

When will I receive my EFTPOS terminal?

Accepted Answer

You’ll receive your EFTPOS terminal within 5-7 working days of your application and supporting documentation being submitted.

Note: This is subject to the approval of your application.

See if a mobile EFTPOS terminal is right for your business.

Question 33

What do the EFTPOS terminal response codes mean?

Accepted Answer

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press MENU from the Home screen (Mobile VX680) or Press the button under MENU (Countertop VX520) Select 3 for Refund Press Enter Type in your Merchant password Press Enter Type in the Refund Amount Press Enter Prompt the customer to Insert or Swipe their card (depends on functionality available on customer card) Select the account type - request the customer to make this selection (if prompted to do so) Press Enter The terminal will ask the customer to type in their PIN number and press Enter or press Enter for the customer to sign the receipt If Approved, the terminal will print the merchant receipt Remove the merchant receipt, hand to the customer to sign the receipt (if prompted to do so by the terminal). Verify the signature if not a PIN transaction Ensure that the transaction receipt says ‘APPROVED’ Press Enter to print the customer receipt (if required) Hand the Customer Copy receipt to the customer (if required)

Question 34

How do I fix my terminal if it’s displaying a ‘Comms Error’

Accepted Answer

First, ensure all terminal phone cable connections and phone supply outlets are connected correctly.

Power off the terminal before connecting the telephone cable; unplug the power cord from the 110-Volt, or regional, grounded power receptacle.
Connect one end of the telephone cable into the terminal.
Connect the other end of the telephone cable into your telephone wall jack.
Power on the terminal; plug the power cord connector into a 110-Volt, or regional, grounded power receptacle.
Connect the phone line to a telephone to check for dial tone and cable quality.
Clear any message bank on the line.
Disconnect call waiting.

Has the telephone line recently changed to or from a PABX system?

If so, the terminal will require a reconfiguration, please contact 1800 836 055. If the problem is not resolved call 1800 836 055.

Question 35

How do I fix my terminal if it’s displaying ‘Unsupported Card’?

Accepted Answer

This means the terminal profile has not been set up to accept the card type that is being used. Please contact merchant technical support on 1800 836 055.

Question 36

My EFTPOS terminal is displaying a ‘Z6’ or ‘V6’ error. How do I fix this?

Accepted Answer

This error means there’s been a loss of carrier. An unexpected phone line disconnect has occurred.

If you have a Verifone VX520 terminal you will receive a Z6 error, if you have a Ingenico ict250 terminal you will receive a V6 error.

Please check your phone connection. Try the transaction again.

If the problem is not resolved call 1800 836 055.

Question 37

My EFTPOS terminal has frozen. How do I fix this?

Accepted Answer

If the terminal freezes on a specific screen and will not do anything, you can unplug the power supply from the terminal and replug it in. If the problem is not resolved call 1800 836 055.

Question 38

My EFTPOS terminal is printing blank. How do I fix this?

Accepted Answer

If your terminal is printing blank:

Check to see if the paper roll is inserted correctly. If it’s inserted incorrectly, it will print blank due to the thermal paper.
Open the printer cover, drop the paper roll into the paper holder with paper coming out of the bottom of the roll towards print head. Pull the paper and close the printer cover. Pull and tear the paper against the paper receipt guide.
Operate the terminal as normal and perform a reprint to ensure the printer is now printing.

If the problem is not resolved call 1800 836 055.

Question 39

My EFTPOS terminal settled but the approved slip did not print

Accepted Answer

Try to reprint the last settlement slip on your EFTPOS terminal.

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press FUNC from the Home screen (Mobile VX680) or Press the button under FUNC (Countertop VX520) Type in 90 Press Enter Press 1 for Terminal password Press Enter Type in your current/old terminal password Press Enter Type in your new terminal password Press Enter Confirm your new terminal password Press Enter Your terminal password has now been changed.
Ingenico ict250 and iwl255	Please call 13 11 55 to change your terminal password.

If this does not solve the problem call 1800 836 055.

Question 40

My terminal shows ‘settlement failure already settled’ or ‘settlement unsuccessful’ but there is no Summary

Accepted Answer

The terminal has settled, but there has been a communication error at the time of printing the report.

You can reprint the settlement report by following these steps:

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press FUNC from the Home screen (Mobile VX680) or; Press the button under FUNC (Countertop VX520) Type in 74 Press Enter
Ingenico ict250 and iwl255	Press the MENU button form the Home screen Select 3 for Batch Select 2 for Last Settlement

Question 41

What is Least Cost Routing

Accepted Answer

Least Cost Routing (LCR), also known as ‘lowest cost routing’, ‘low-cost routing’, ‘merchant routing’ or ‘smart routing’ is the industry terminology used to explain the new routing functionality on merchant terminals for scheme (Visa/MasterCard) debit card contactless transactions. The introduction of least cost routing is to help merchants take steps to ensure that debit card contactless transactions are processed through the lower cost payment channel.

Question 42

What is Suncorp’s Wave & Save EFTPOS solution?

Accepted Answer

Suncorp's Wave & Save is our new EFTPOS solution that uses Least Cost Routing (LCR) to process scheme (Visa/MasterCard) debit card contactless transactions within set transaction limits** through the EFTPOS network as opposed to the default credit card network. Enabling Wave & Save on a merchant terminal may provide eligible merchants with lower merchant fees on these transactions.

Question 43

How does it work?

Accepted Answer

Based on a Merchant’s pricing plan, a Wave & Save Transaction limit** is set to a default position where the transaction amount costs the same to process via both the EFTPOS and Credit Card network. Scheme debit card contactless transactions valued over the limit will route down the EFTPOS network and you will be charged the debit card fee.

Some debit card issuers may set a maximum daily card limit on EFTPOS debit card transactions, usually $1000**, meaning once this limit is reached, transactions will be processed via the credit card network.

Any scheme debit card contactless transactions valued equal to or under the transaction limit will continue to be processed via the credit card network and be charged the credit card transaction fee. Setting the right transaction limit helps to take steps to ensure you are charged the lower transaction fee for scheme debit card contactless transactions

Question 44

How is the Wave & Save Transaction Limit calculated for Merchants?

Accepted Answer

For Existing Suncorp Merchants

Use our Wave & Save Transaction Limit Calculator.

Enter the Merchant Service Fee % and the Debit Card Fee in the green fields as per a merchants pricing plan. Press enter. The dollar amount displayed is the transaction amount where the costs are the same to process via both the EFTPOS and credit card network. This transaction amount will be set as the default position for their Wave & Save Transaction Limit**.

For New merchants

Your Wave and Save Transaction Limit will be calculated based on your new pricing plan with Suncorp. The transaction limit will be set to a default position where the transaction amount costs the same to process via both the EFTPOS and Credit Card network. Our Business Specialist will let you know your transaction limit during the application process.

Question 45

Is Suncorp’s Wave & Save EFTPOS solution suitable for all merchants?

Accepted Answer

We believe that our Wave & Save EFTPOS solution may help you take steps to lower your merchant costs if you process debit card contactless transactions.

Question 46

Will all merchants save money on their merchant service fees when Wave & Save is enabled on their terminal?

Accepted Answer

Prior to the introduction of Least Cost Routing, all contactless transactions were routed via the credit card network and charged the credit card fee. Eligible merchants who process scheme debit card contactless transactions above their Wave & Save Transaction Limit may see a reduction in their merchant service fees due to the lower acquiring cost for these transactions when they are processed through the EFTPOS network. The savings may differ across merchants as it’s dependent on their industry type, pricing plan, card mix and transaction value and volumes.

Please note that some bank issued scheme debit cards have a maximum daily card limit of up to $1000 on EFTPOS transactions**. If one of these cards is used and they have exceeded their daily card limit, the transaction amount will be processed via the credit card network and the credit card fee will be charged.

Question 47

How does I know what card network a transaction is processed via?

Accepted Answer

You will be able to determine if a transaction has been processed via the EFTPOS network or credit card network by what appears on their merchant receipts. For transactions that have gone down the EFTPOS network, you will see ‘Savings EFTPOS’ or ‘Cheque EFTPOS’. For transactions that have gone via the credit card network, their transaction receipt will read either Visa Debit or Debit Mastercard.

Question 48

If a customer uses their phone to make a payment and the phone is linked to their scheme debit card, what network will the transaction be processed via?

Accepted Answer

The least cost routing functionality only works with payments made using a physical card. Payments made using a phone or any other device (i.e. a watch), will still be routed via the credit card network.

Question 49

Will a Merchants settlement process change?

Accepted Answer

No, there will be no changes to the end of day settlement process on your EFTPOS terminal.

Question 50

Will there be any changes to the Suncorp Merchant Statements?

Accepted Answer

No, there will be no changes to the merchant statements.

Question 51

How will I determine if I’m are making any savings once Wave & Save is enabled?

Accepted Answer

If you enable the Wave & Save EFTPOS solution, scheme debit card contactless transactions made over the Wave & Save transaction limit**, but under any applicable EFTPOS maximum daily card limits, will be routed through the EFTPOS network. This will help them take steps to ensure that scheme debit card contactless transactions will be processed through the EFTPOS network where the associated transaction fee will be lower, when compared to the credit card fee charged for the same transaction value.

The Wave & Save EFTPOS Solution may help ensure that the lower EFTPOS fees are charged when compared to the applicable credit card fee for the same transaction. Doing so will help you take steps to reduce your overall merchant costs. While this may depend on the nature of their business, you can compare your overall merchant fees with the Wave & Save EFTPOS solution enabled, with a previous month of the same merchant activity without the Wave & Save EFTPOS solution, to see the level of savings you may receive.

Question 52

Do I have to disclose to their customer that I am using Wave & Save?

Accepted Answer

You are not required to disclose whether a transaction will be routed via the EFTPOS network or the credit card network.

Question 53

Do I need to change anything if I apply a surcharge to recover their costs of accepting card payments?

Accepted Answer

If you manually apply the credit card surcharge to debit card contactless transactions today, then you will need to adjust this amount to ensure the customer is only charged the average cost of accepting that transaction. For more information on the surcharging standard, visit the Reserve Bank of Australia’s website.

If you have the surcharging functionality enabled on their terminal, no change to the terminal will be required.

Question 54

Can a merchant’s customer choose how their transaction is processed?

Accepted Answer

A customer still has the option to swipe or insert their card and select the account they wish to use to pay for the transaction if they do not want to use the contactless functionality.

Question 55

How does an existing merchant enable Wave & Save on their terminal?

Accepted Answer

There are two options to enable Wave & Save on an existing merchant terminal:

Head to our Merchant Services page to download the ‘Misc changes to terminal’ form. Complete the form and send to the email address specified.

To calculate your Wave & Save Transaction limit, use our Wave & Save Transaction Limit Calculator.

Enter the Merchant Service Fee % and the Debit Card Fee in the green fields as per their pricing plan. Press enter. The dollar amount displayed is the transaction amount where the costs are the same to process via both the EFTPOS and credit card network. This transaction amount will be set as the default position for your Wave & Save Transaction Limit**.

Or

Contact one of our Business Specialists on 13 11 55.

Question 56

Can all existing merchants enable Wave & Save on their terminals?

Accepted Answer

The following terminals: IWL255, IPP350, MOVE 2500 and MOVE 5000 are compatible with the Wave & Save EFTPOS Solution and a simple download to their terminal will enable the Wave & Save functionality.

For all other terminal types, we will need to swap their terminal with a new compatible terminal. Please note that if you have any of our Value Add Services such as Touch or Medicare or Private Health Claiming, the Wave & Save Functionality cannot be enabled at this time. The software is currently in its testing phase and will be available in the coming months.

To arrange a swap of terminal, complete the Misc Change Request Form and Suncorp will process the change in terminal and enable Wave & Save at the same time.

Question 57

Will my existing merchants pricing change if I enable Wave & Save on their terminal?

Accepted Answer

To enable Wave & Save functionality on your terminal, some merchants may be required to undertake a pricing review. Please see our Misc changes to terminal form for more information regarding when a pricing review may be required.

Question 58

Can I remove the Wave & Save functionality once it’s enabled?

Accepted Answer

Yes, head to our Merchant Services page to download the Misc changes to terminal form. Complete the details required and send to the email address specified.

Question 59

Once Wave & Save is enabled on a terminal, will the merchant notice any differences when processing transactions?

Accepted Answer

You should not experience any differences when processing transactions, other than the merchant copy of the receipts saying ‘Savings EFTPOS’ or ‘Cheque EFTPOS’ when scheme contactless debit card transactions are routed through the EFTPOS network when within the applicable transaction limits**.

Question 60

Will a Merchant’s customer’s notice a difference when Wave & Save is enabled?

Accepted Answer

If the debit card contactless transaction is processed via the EFTPOS network, the funds will be deducted straight away from their account. If it was processed via the credit card network a hold is placed on their account for a few days until the transactions is received at their bank. The customers receipt docket will say ‘Savings EFTPOS’ or ‘Cheque EFTPOS’ when scheme contactless debit card transactions are routed through the EFTPOS network when within the applicable transaction limits**.

Question 61

What is the Reserve Bank of Australia (RBA) surcharging standard?

Accepted Answer

Customers using Visa, Mastercard, EFTPOS and American Express can’t be charged an amount higher than then the merchant’s average cost of accepting that card type.

Under the standard, we’re required to provide our merchants with their average cost of acceptance each month on their statements for the fees we charge. At the end of each financial year, we’re required to provide them with their annual average cost of acceptance for the fees we charge.

For more information about the surcharging standard, visit the Reserve Bank of Australia’s website.

Question 62

Are Merchants required to surcharge?

Accepted Answer

No, the decision to surcharge is at the merchant’s discretion.

For more information about the surcharging standard, visit the Reserve Bank of Australia’s website.

Question 63

What fees make up the average cost of acceptance that appears on the statement?

Accepted Answer

Merchant service fees for each card type make up the average cost of acceptance.

Other fees where applicable include:

terminal rental
annual fee
MOTO fee
chargeback fee
EFTPOS paper roll fees
virtual POS monthly fees.

These fees will be apportioned across each of the card types, based on each card type’s proportion of the total value of transactions.

Question 64

Can we include any other costs relevant to processing credit or EFTPOS transactions to calculate their Surcharge amount?

Accepted Answer

Along with the fees paid to Suncorp, you may include some additional types of costs if they are directly related to accepting a particular card type.

These are:

Gateway fees paid to an external payment service provider.
The cost of fraud prevention services paid to an external provider.
The cost of insuring against forward delivery risk. This applies to agents (such as travel agents) who pay an external party to insure against the risk that the agent will be liable to a customer for the failure of a principal supplier (such as an airline or hotel) on payments accepted via cards.
Dial up phone line costs if the sole use is for the EFTPOS facility. If you make voice calls or it connects to any other device within your organisation, this fee can’t be included.

In each case, these costs must be specific to the particular types of cards that you are surcharging, rather than being a cost that applies to all payment methods accepted by you.

They must be costs paid to an external provider and verified by contracts, statements or invoices. A merchant's internal costs can’t be included in a surcharge.

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press MENU from the Home screen (Mobile VX680) or; Press the button under MENU (Countertop VX520) Select 9 for Void Press Enter Type in your Merchant password Press Enter Select 1 and Enter to Void the Last Transaction Select 2 and Enter for Invoice to Void a previous transaction within the same batch Type in the Invoice Number Press Enter The terminal will ask you to confirm the Transaction to be Voided Press the Enter button for Yes or Cancel button for No The terminal will print you a merchant receipt indicating the VOIDED sale Press the Enter button to print a customer receipt (if required) Do not disclose your Merchant password to any unauthorised people. Only Credit card transactions can be voided. A voided transaction will not appear on the merchant statement, cardholder statement or settlement report. You can only void a transaction that is in the current day’s batch and it can only be voided prior to settlement.
Ingenico ict250 and iwl255	Press the MENU button from the Home screen: Select 3 for Batch Select 5 for Void Type in the invoice number of the transaction to be voided Press Enter Type in your Void password Press Enter The terminal will ask you to confirm the Transaction to be Voided Press the Enter button for Yes or Cancel button for No The terminal will print you a merchant receipt indicating the VOIDED sale Press the Enter button to print a customer receipt (if required) Do not disclose your Void password to any unauthorized people. Only Credit card transactions can be voided. A voided transaction will not appear on the merchant statement, cardholder statement or settlement report. You can only void a transaction that is in the current day’s batch and it can only be voided prior to settlement.

Status	Instruction
01	Refer the cardholder to the issuing bank.
05	The issuing bank has chosen not to honour the transaction.
31	The issuing bank is not supported by the current terminal software.
51	Another form of payment is required. Do not use a fallback voucher.
55	Invalid PIN entered.
61	Cardholder has exceeded the maximum daily withdrawal limit on their card.
91	The issuing bank is not available. Communication lines are down.

Business Banking Frequently Asked Questions

General

EFTPOS

Wave & Save EFTPOS Solution

Surcharges

Looking for something else?

All Banking FAQ categories

Couldn't find what you were looking for?

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press the merchant MENU button: Press 3 for Batch Press 2 for Reprint Settlement.
Ingenico ict250 and iwl255	Press the MENU button form the Home screen: Select 3 for Batch Select 2 for Last Settlement. The last successful terminal initiated settlement slip will be reprinted.