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Here's what to consider before deciding whether it's right for you.
1 Available to eligible customers with a Commonwealth Bank business transaction account and a linked Commonwealth Bank eligible merchant facility. ‘Same day’ includes all card sales made before 10pm (AEST). Third party products not included, which includes payments from Medicare and private health funds for claims processed. Everyday Settlement applies to EFTPOS and gap payments, which are treated as normal credit/debit transactions (for Commonwealth Bank account holders). Funds received by a practice for Medicare and private health funds claims are processed by the relevant organisation (Medicare or private health fund) according to its timeframes.
2 Everyday Settlement is available on all EFTPOS transactions made before 10.00pm (AEST) and all eCommerce transactions made before 5:30pm (AEST) for eligible customers with a Commonwealth Bank business transaction account and a linked Commonwealth Bank merchant facility.
3 In metropolitan and regional areas.
4 The Monthly Account Fee waiver on Business Transaction Account only applies to the merchant linked account whilst you are a part of the Simple Merchant Plan. Excess usage fees of 1.5% applies to any monthly card turnover over your included amount. Additional fees and charges may apply including $30 chargeback fee (per chargeback), $110 service cancellation fee and $550 terminal non-return fee. The full fee list will be sent to you once we’ve checked everything successfully. As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the information, consider its appropriateness to your circumstances. Please view our Merchant Agreement, Financial Services Guide and Operator and User Guides at our Merchant Support Centre.