UPDATE - RESERVE BANK OF AUSTRALIA (RBA) SURCHARGING STANDARD
(Australian Customers Only)
As you know, the new RBA surcharging standard will soon come into effect. Under the new standard, customers using Visa, Mastercard, and American Express cards can't be charged a surcharge higher than the cost of accepting that particular card scheme. This will be guided by a Cost of Acceptance (COA) table provided by NAB in your monthly statements.
Your June 2017 statement, and all future statements, includes a Cost of Acceptance (COA) table that outlines the following for the current month and previous 12-month period:
- A summary of the value of the transactions made by your customers;
- The fees we're charging you for those transactions; and
- The cost of acceptance, shown as a percentage.
For your June 2017 statement only, please disregard the information provided in the cost of acceptance table at this time. We will reissue your June 2017 statement with the updated cost of acceptance details in coming weeks. We apologise for this inconvenience.
WANT TO KNOW MORE
For further information about the RBA Surcharging Standard:
- Visit www.nab.com.au/surcharging
- Access www.rba.gov.au or www.accc.gov.au/update/ban-on-excessive-payment-surcharging
- Contact us at rbasurcharge@nab.com.au
If you have any questions, or you'd like more information, just call our Merchant Service Centre on 1300 369 852.
