- Highs: Simple card rate. No monthly minimum fee. Same-day settlement with NAB account. Cancellable any time.
- Lows: More expensive without NAB bank account. Customer service complaints.
- Choose if: You’re banking with NAB and want a pay-as-you-go EFTPOS terminal with straightforward fees.
EFTPOS machine
NAB only offers one card machine, the portable Ingenico Move/5000 terminal (NAB EFTPOS Mobile package). It can be used independently or integrated with a POS system.
It features a push-button keypad underneath a touchscreen. You can more quickly navigate the menu on the colour touchscreen than if you just used the keypad, so it is definitely an upgrade from conventional card machines with just the PIN pad to use.
The general tech specs are:
NAB’s only model: Ingenico Move 5000.
The terminal comes with a charging base, power supply and six receipt paper rolls for getting started. New receipt rolls can be ordered directly from the touchscreen menu on the terminal (costs apply).
The card machine accepts Google Pay, Apple Pay and wearables like FitBit as well as Visa, Mastercard, UnionPay and eftpos cards. With extra agreements, you can accept American Express, JCB and Diners Club too.
It is possible to activate manual card entry on the NAB EFTPOS machine for over-the-phone and mail order payments. To set this up, you need to speak with NAB’s merchant support team (transaction rates are higher for keyed-in payments).
NAB used to offer a Verifone VX680/VX820 terminal and NAB MPOS card reader, but they are no longer available for new customers.
NAB fees and contract
NAB EFTPOS Mobile comes with a rolling contract that can be cancelled with 60 days’ written notice any time. There is no contractual commitment apart from that, nor is there a setup or installation fee.
The card machine is rented for a monthly fee: $25 per month for a standalone terminal or $35 a month for a terminal integrated with a POS system. Using a NAB Business bank account for payouts gets you a $5 rebate on this monthly fee (i.e. $20 for a mobile or $30 for an integrated EFTPOS machine).
| NAB EFTPOS Mobile | Costs |
|---|---|
| Setup & installation | Free |
| Monthly rental fee | $25*/mo for standalone terminal $35*/mo for integrated terminal $5 rebate on fee/mo with NAB bank account |
| Transaction fee (Visa, Mastercard, eftpos, UnionPay) | 1.15% (fixed rate) |
| Monthly minimum service charge | None |
| Chargeback fee | May apply |
| Account closure fee | May apply |
*Includes GST.
| NAB EFTPOS Mobile |
Costs |
|---|---|
| Setup & installation | Free |
| Monthly rental fee | $25*/mo for standalone terminal $35*/mo for integrated terminal $5 rebate on fee/mo with NAB bank account |
| Transaction fee (Visa, Mastercard, eftpos, UnionPay) | 1.15% (fixed rate) |
| Monthly minimum service charge | None |
| Chargeback fee | May apply |
| Account closure fee | May apply |
*Includes GST.
Since you are renting the EFTPOS machine, you need to return it to NAB after ending the contract. According to the website, you “may be liable to pay a closure fee” at this point. This is not advertised openly, so it’s a good idea to check the fine print of the agreement before signing up.
There is no minimum monthly turnover set for this contract, which some EFTPOS providers have. You just pay the monthly rental cost plus a fixed rate of 1.15% for card transactions. This applies to all debit and credit cards by the brands Visa, Mastercard, UnionPay and eftpos. American Express, JCB and Diners Club can be accepted if separate agreements for them are set up, but they incur other rates that are likely higher than 1.15%.
NAB uses Merchant Choice Routing for your tap-and-go transactions, so payments that would’ve used the Visa or Mastercard networks go via eftpos instead. If your rates for eftpos and international card networks were different, this could’ve saved you some money, but since the NAB EFTPOS Mobile plan uses a fixed rate for them all, it makes no difference to your charges.
That is, unless you qualify for custom rates. NAB does offer lower rates on request, which can be discussed directly with NAB.
As with any merchant agreement at a bank, there will be other charges such as fees for chargebacks and processing refunds. The full range of costs can be read in your contract prior to signing up, or better yet – ask a NAB representative on the phone.
NAB does not support surcharging for contactless transactions on their EFTPOS machines. It should be possible to add a surcharge to chip or swipe card payments, if needed.
Payouts and bank account
It’s possible to settle EFTPOS transactions into any business bank account in Australia, but there are clear advantages for using NAB’s own bank accounts. For one, you get a $5 monthly rebate of your EFTPOS rental fee with a NAB Business account.
Perhaps more pressingly, EFTPOS Mobile merchants get same-day settlement with a NAB bank account for payments processed before 9.30pm (AEST), seven days a week. Payouts reach your bank account by 11.30pm (AEST) each day.
With an account from another bank, it can take several days to receive EFTPOS payouts in that bank account. Settlement times for a different bank account are confirmed when signing up.
| Bank account | Costs |
|---|---|
| NAB Business Everyday Account ($0/mo) | $0.60 per payout batch |
| NAB Business Everyday Account ($10/mo) | Free payouts |
| Other bank accounts | Varies |
| Bank account | Costs |
|---|---|
| NAB Business Everyday Account ($0/mo) | $0.60 per payout batch |
| NAB Business Everyday Account ($10/mo) | Free payouts |
| Other bank accounts | Varies |
There are two NAB Business Everyday Accounts eligible for same-day settlements: one without a monthly fee and one with a $10 monthly fee.
The free account incurs a $0.60 fee per deposit received, meaning every daily payout batch costs $0.60. With the $10-per-month option, there is no deposit fee for payouts. Put differently, if you transact for more than 16 days a month (30 days in a month divided by 0.60 = 16.67), it is cheaper to pay $10 every month for the business account.
POS integration
The integrated EFTPOS machine uses the connector software Linkly and POS Gate (by Ingenico) to connect to your point of sale (POS) system of choice. Such a setup usually costs extra, which is why you pay a higher monthly fee for an integrated terminal compared with a standalone model.
The recommended integration is NAB + Vend POS for retail shops. Vend is a cloud-based, very user-friendly POS system with advanced inventory and store management features and an intuitive interface.
The Vend POS system works with NAB EFTPOS machines.
Alternatively, POS Gate and Linkly integrate with dozens of POS systems for any sector in Australia.
There are many benefits to a POS-EFTPOS integration: transactions are synced in real time with sales analytics, transactions run smoother as you don’t need to manually enter transaction amounts on the EFTPOS terminal, and sales reports in the POS software show the exact card used for each transaction.
Customer support and reviews
Every EFTPOS merchant can contact the NAB merchant support centre 24/7 for technical issues, queries about transactions or any other support. The NAB website includes in-depth manuals for the Ingenico Move 5000 terminal, as well as step-by-step answers to frequently asked questions.
That being said, NAB reviews online do not bode well on average. Many private account holders complain of poor service, while reviews by business users are few and far between. This makes it hard to gauge how reliable the NAB EFTPOS Mobile service actually is.
However, most traditional banks similar to NAB get low ratings simply because people are more incentivised to submit a review when the experience has been bad.
Our verdict
NAB EFTPOS Mobile is, in many ways, a typical EFTPOS solution from a traditional bank – but it does have some clear advantages.
Despite only offering one EFTPOS machine model, NAB has chosen well. Ingenico Move 5000 is a modern, future-proof version of more traditional card machines. It’s lightweight, stylish and has a cutting-edge touchscreen for easier navigation.
The same-day settlement and monthly rebate offer are attractive for NAB account holders, as is the prospect of using the same bank for card transactions and business banking.
Small businesses with fluctuating sales can also benefit from pay-as-you-go rates without a minimum turnover requirement or contract lock-in. You do have to pay a monthly rental fee, though, which can eat into your budget when sales are drying up.
Poor reviews from existing NAB customers are certainly a concern, but the overall EFTPOS package is definitely worth considering.
Best for: NAB Business account holders preferring a pay-as-you-go solution with a good card machine.
