Business Banking Frequently Asked Questions

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.

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.

All you need to do is 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.

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.

You can open an account through the Suncorp Bank website via the Business Everyday & Savings Account page. Alternatively, contact us or visit us at a Suncorp store to connect with a business specialist.

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.

No. You can deposit cash or cheques fee-free with any of our Business Everyday, Business Premium and Business Saver Accounts.

If you already have a business account in the same business name, we’ll have enough information to open another account. If you’re new to Suncorp Bank or your current account is in a different business name, we’ll need more documentation.

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

We offer cheque books for the following business accounts:

Business Everyday
Business Premium Accounts

eStatements are available for:

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

If you use Internet Banking you can view, print and download your transaction information.

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.

To complete online business payments, you’ll need:

An eligible business account
A Security Token
APCA Credit ID

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.

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

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

Manual entry
Saved template
File upload
Management my business payments template
Payments awaiting approval
Future dated payments

General

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

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.

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

EFTPOS

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.

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.

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

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.

Note: A merchant password can be 4 characters long and you should change it regularly for security purposes.

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 5 Press Enter The batch totals will display on the screen Press the Print button to print the Batch Totals (Mobile VX680) or; Press the Enter button to print the Batch Totals (Countertop VX520)
Ingenico ict250 and iwl255	Press the MENU button from the Home screen Select 3 for Batch Select 4 for Batch Totals The Batch Totals will be printed.

To order you can either go through your EFTPOS terminal or visit the website and fill in the Merchants Stationary Order Form.

Simply follow these steps:

EFTPOS terminal	Instructions
Verifone VX520 and VX680	Press MENU from the Home screen (Mobile VX680) or Press the button under MENU (Countertop VX520). Select 7 for Settlement. Press Enter.
Ingenico ict250 and iwl255	Press the MENU button from the Home screen Select 3 for Batch Select 1 for Settle Type in the Settlement Password Press Enter

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)

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.

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.

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 73 Press Enter Type in the Invoice number you would like to reprint and press Enter or press Enter to print the last transaction Select 1 for Customer Copy, 2 for Merchant Copy, or 3 for Both Press Enter.
Ingenico ict250 and iwl255	Press the MENU button from the Home screen: Select 2 for Print Select 1 for Transactions Select 1 for Last Transaction or 2 for Invoice If 2 for Invoice was selected, type in the invoice number and press Enter. Note: Only transactions that are in the terminal since the last settlement can be reprinted.

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.

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

You’ll receive your EFTPOS terminal within 5-7 working days of your application, if that application is approved.

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.

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.

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.

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

Please check your phone connection. Try the transaction again.

If the problem is not resolved call 1800 836 055.

To fix the terminal, you should unplug the power supply from the terminal and replug it in. If the problem is not resolved call 1800 836 055.

First, ensure 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.

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 74 Press Enter
Ingenico ict250 and iwl255	Press the MENU button form the Home screen: Select 3 for Batch Select 2 for Last Settlement

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

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

Wave & Save EFTPOS Solution

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.

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.

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.

For Existing Suncorp Merchants

Use our Wave & Save Transaction Limit Calculator.

For New merchants

Your Wave and Save Transaction Limit will be calculated based on your new pricing plan with Suncorp.

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.

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.

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.

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.

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

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

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.

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

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.

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.

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.

Contact one of our Business Specialists on 13 11 55.

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.

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.

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.

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**.

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**.

"Merchant facilities are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL 229882 ("Suncorp"). Approved applicants only. Terms and conditions, fees and charges apply and are available on request. Suncorp cannot guarantee savings/lower merchant fees for all merchants that enable Least Cost Routing on their terminals as this is dependent on the merchant's industry, card types used to process payments, the value and volume of transactions and the merchant's pricing plan.

** The Wave & Save Limit will depend on the merchants pricing plan and is set to a default position where the transaction fees are the same to process via both the EFTPOS and Credit Card network. Some bank issued scheme debit cards have a maximum daily card limit on EFTPOS transactions up to $1000 depending on the card Issuer. If one of these cards is used where the transaction value exceeds the daily card limit, the transaction will be processed via the credit card network and the credit card fee charged. Please refer to suncorp.com.au for EFTPOS roll prices for future orders."

The information is intended to be of general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.

Surcharges

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.

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

The merchant service fees for each card type.

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.

In addition to 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.

You should use the annual average cost of acceptance in your calculation. However, if only the monthly average cost of acceptance is available, you can use this figure and adjust your surcharge amount when the annual average cost of acceptance is available at the end of the financial year.

If neither is available, we suggest that any surcharge amount you choose to apply be limited to only your MSF fee, until we have enough transaction data available.

Each month your statement will show your average cost of acceptance for the transactions completed that month and your June statement each year will contain the annual average cost of acceptance for the previous financial year.

Please click the link below to see the table.

No, it’s up to you what transactions you apply the surcharge to.

For example, you can either apply it to all transactions or you can choose to only surcharge on transactions that fall under a certain value or apply it to a certain card type used.

You must also ensure that you notify the cardholder at the time of the transaction and that you also have signage up informing customers of the surcharge amount.

If you wish to make changes to your surcharge amount, then you can update this on your terminal.

The surcharge amounts should always be entered inclusive of GST.

Yes, you can manually add a surcharge to the transaction value if you adhere to the rules.

You must have signage advising the surcharge percent % or dollar $ amount you surcharge, and also inform the customer at the time the transaction is being processed.

The Australian Competition and Consumer Commission (ACCC) will be monitoring surcharging practices to ensure merchants are not surcharging in excess of their average cost of acceptance.

They have the authority to issue penalties if a merchant does not adhere to the standard.

Yes, each statement has a separate cost of acceptance table applicable to that merchant number.

As long as the merchant facilities are under the same legal entity and have the same industry type, then you can calculate your average cost of acceptance based on the total costs across all of your facilities.

As the merchant, you have a contract directly with American Express to enable you to process AMEX transactions.

American Express will issue their own statements that will include the average cost of acceptance calculation separately for this card type.

If you surcharge and don’t have the surcharging functionality enabled on your terminal, you can choose to calculate the surcharge as a percentage of the transaction value or as a flat dollar amount per transaction.

We have detailed both options on your Average Cost of Acceptance Table.

If you have the surcharging functionality enabled on your terminal, this will always be charged as a percentage for Visa, MasterCard, AMEX or Diners card transactions and a fixed dollar amount for EFTPOS debit transactions.

No, the Taxi industry is monitored and governed by state legislation and have maximum surcharge amounts they can apply.