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.