June 2021 - What’s changing?
Visa are making changes to their Interchange Rates effective 1 June 2021. Visa are amending rates for credit cards.
Rates are excluding GST
VISA
Credit
| Card type | Old rate | New rate |
|---|---|---|
Credit Platinum |
Old rate 0.71% |
New rate 0.72% |
Credit Signature |
Old rate 0.77% |
New rate 0.78% |
Credit Business |
Old rate 0.69% |
New rate 0.71% |
What does this mean for you?
Interchange Rate structure changes impact only Interchange Plus pricing merchants. Your cost of accepting payments via these card types may also change.
What do you need to do?
You don’t need to make any changes. The interchange fee will automatically be applied to Visa transactions after the implementation date advised above. Your April statement will reflect this change.
How this affects your cost of acceptance
Depending on the card mix your business accepts, you could see an impact to your cost of acceptance.
The new interchange rates will be applied to your merchant statements and will show your cost of acceptance based on the new rates.
Where can you find out more about interchange fees?
Interchange Fees information is published by Visa online and information is due to be updated 1 June 2021.
These rates can be found at:
Visa interchange, opens in new window
Want to know more?
Visit our interchange categories definitions page for more information.
Contact us
Request a call back
Let us help you with your business banking needs.
Call us
Call us for your general enquiries about business banking.
Visit a NAB branch
Use our locations tool to find business banking services.
Important information
Apologies but the Important Information section you are trying to view is not displaying properly at the moment. Please refresh the page or try again later.