When you signed up for your eftpos terminal, you probably focused on one number: the transaction rate. A percentage per sale. Simple enough.
But here's the thing — your transaction rate is just one part of what you're actually paying. Most eftpos providers have a stack of additional fees buried in the fine print, and they add up fast. We see it every week: business owners who think they're paying 1.2% are actually paying closer to 2% when you add everything together.
Here are the five hidden fees we see most often — and how to spot them on your merchant statement.
01Terminal Rental Fees
This one isn't exactly "hidden" — it's usually in your contract. But many business owners don't realise how much they're paying for it relative to the value they're getting.
Terminal rental fees are monthly charges for the physical eftpos machine sitting on your counter. They can range from a relatively modest amount to significantly more depending on the terminal type, the provider, and the deal you negotiated (or didn't negotiate).
The catch? Some providers lock you into terminal rental contracts for 3–5 years. If you want to leave early, you pay out the remaining months. So a "cheap" terminal rental can become very expensive if the rest of the deal doesn't stack up.
What to watch for: Check your contract for the rental term, early termination fees, and whether the terminal is rented or owned. Some providers offer terminal-free deals (more on that in our guide to using an eftpos broker).
02Minimum Monthly Fees
This one catches a lot of smaller businesses off guard. A minimum monthly fee means you pay a set amount every month regardless of how many transactions you process. If your actual fees exceed the minimum, you just pay the actual fees. But if you have a quiet month, you still pay the minimum.
For a busy restaurant doing thousands of transactions a month, this probably doesn't matter — you'll exceed the minimum easily. But for a trades business that does most of their invoicing via bank transfer and only has a handful of card payments? That minimum monthly fee can effectively double or triple your per-transaction cost.
What to watch for: Look for "minimum monthly service fee" or "minimum monthly charge" on your statement. If you see the same amount every quiet month, that's your minimum kicking in.
03Scheme Fees and Interchange Pass-Through
This is where it gets properly confusing, and providers know it.
Every card transaction involves multiple parties: the card networks (Visa, Mastercard, eftpos), the issuing bank (the customer's bank), and the acquiring bank (your provider). Each of these parties takes a cut, called interchange fees and scheme fees.
Some providers quote you a "bundled" rate — a single percentage that covers everything. Others use "interchange-plus" pricing, where they quote a margin on top of the interchange fee. Interchange-plus is generally more transparent, but only if you understand what you're looking at.
The issue? Scheme fees and interchange rates vary by card type. A domestic debit card costs less to process than an international Amex. But if you're on a bundled rate, you pay the same percentage regardless. You might be overpaying on cheap transactions and underpaying on expensive ones — but the net result usually favours the provider.
What to watch for: If your statement shows different rates for different card types (domestic debit, credit, international, Amex), you're on interchange-plus. If it's a flat rate across the board, you're on bundled pricing. Neither is inherently better — it depends on your transaction mix.
04PCI Compliance Fees
PCI DSS (Payment Card Industry Data Security Standard) is a set of security requirements that all businesses accepting card payments must meet. Your provider helps you stay compliant — and charges you for the privilege.
PCI compliance fees are usually a monthly or annual charge. On their own, they're not unreasonable. But here's where it gets sneaky: some providers also charge a PCI non-compliance fee if you haven't completed your annual self-assessment questionnaire. This fee can be significantly higher than the standard compliance fee, and it often kicks in without any warning.
Many business owners don't even know they have a compliance questionnaire to fill out. They just see a mysterious fee on their statement and ignore it.
What to watch for: Look for "PCI fee," "PCI compliance," or "PCI non-compliance" on your statement. If you're paying a non-compliance fee, contact your provider and ask how to complete the assessment — it's usually a simple online form that takes 15 minutes.
05Settlement Timing Costs
This isn't a fee on your statement — it's a hidden cost in your cash flow.
Standard settlement with most providers is next-business-day. That means if a customer pays on Friday, you might not see that money until Tuesday. For a busy hospitality venue doing strong weekend trade, that's three days of cash sitting somewhere that isn't your account.
Some providers offer same-day settlement, which means your money arrives the same day it's processed. This can make a real difference to cash flow, especially for businesses with tight margins or seasonal fluctuations.
The hidden cost? Some providers charge extra for same-day settlement. Others include it for free as part of certain plans. If you're not asking about settlement timing, you might be paying more than you need to — or missing out on faster access to your money.
What to watch for: Check your settlement terms in your contract. If you're on T+1 (next day) or T+2, ask your provider about same-day options and what they cost.
How to Find Out What You're Really Paying
The simplest way is to pull out your last three merchant statements and add up every fee — not just the transaction percentage. Include terminal rental, monthly fees, PCI fees, and any other line items. Then divide the total by your total transaction volume. That gives you your effective rate — the real percentage you're paying.
If your effective rate is noticeably higher than the headline rate you were quoted, you've found your hidden fees.
Or, you could just talk to us. At Eftpos Brokers, we review merchant statements every day. We'll look at yours for free, tell you exactly what you're paying, and let you know whether you can do better. We compare over 20 providers, so if there's a deal that saves you money or earns you Qantas Points, we'll find it.
No obligation. No sales spin. Just straight answers.
Book your free consultation here or call us free on 1800 595 340.