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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
  • discounted merchant rates
  • a range of personal banking benefits including discounted 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 will 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 differ depending on whether you have transactional banking 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 in the Retail NZ Banking Package brochure here.