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Access Westpac Banking Benefits


Westpac's long partnership with Retail NZ to support the growth of New Zealand's retail industry provides our members with a range of special deals including:

  • an all-in-one, low cost business banking option
  • preferential merchant rates
  • a range of personal banking benefits including preferential home loans

Find out more about Westpac and their special deals for business and personal banking:


Merchant Service Fees for processing card transactions


From 1 May 2019, Retail NZ members will have a new pricing structure for processing card transactions through Westpac. This new pricing structure is called Interchange Plus.

Interchange Plus means that you'll be charged two rates for each transaction:

  1. A variable rate for the interchange fee that is set by the card schemes; and
  2. A separate combined fixed rate for all other scheme, switch and acquirer (Westpac) fees - this is the rate negotiated for Retail NZ members.

Transaction type Main bank* Non Main bank*
Card present Interchange + 0.28% Interchange + 0.53%
Card not present Interchange + 0.35% Interchange + 0.60%
Ecommerce
More than $15k per month via a linked gateway
Interchange + 0.80% Interchange + 1.05%
Ecommerce
Less than $15k per month via a linked gateway
Interchange + 1.10% Interchange + 1.35%


*Fees depend on whether your settlement account is with Westpac. Please contact Westpac for more information on whether you meet the criteria for a main bank customer.

More information on interchange fees can be found here.

Further information, including terms and conditions and eligibility criteria, can be found here.