National Australia Bank

National Australia Bank, or NAB, is an Australian bank, legally National Australia Bank Limited, that offers EFTPOS acquiring and business accounts. Its merchant offer covers terminals for in-store payments and integration with point-of-sale systems.

Terminals and acquiring The bank provides portable and countertop EFTPOS terminals, including models integrated with till and POS software. This lets retailers and hospitality venues connect card payments to their existing sales systems rather than keying amounts twice.

Settlement and fees According to the bank, settlement is on the same day to a NAB business account when the transaction batch is closed before 21:30 AEST. The merchant service fee is not a fixed public rate: it is determined through an application and an individual offer. Account types, currencies, other fee items and registration details differ by legal entity and market and should be checked in the applicable terms.

Business accounts NAB also offers business bank accounts, so a merchant can settle card turnover into an account at the same bank, which is what makes the same-day timing possible.

Who it suits The offer suits Australian businesses that take card payments in person and want integrated terminals and fast settlement to a NAB account. Companies that bank elsewhere should ask about settlement timing to other institutions.