Zeller vs Tyro: Fees, Rental and Settlement (Oct 2026)

Zeller charges 1.4% on every card, including Amex, with a $99 terminal you own and no monthly fee. Tyro charges 1.3% on domestic cards below $20,000 a month, plus $19 to $29 a month to rent its terminal, as at 18 October 2026. Zeller costs less below about $19,000 a month and Tyro Pro Lite costs less above it. Zeller POS, at 1.2%, undercuts Tyro's standard pricing at any turnover.

Standard published pricing, checked 18 October 2026. Tyro's website blocked automated access, so its figures come from Bendigo Bank's Tyro page and Tyro's pages as shown in search results. Confirm with Tyro before signing.

The 30-second verdict by business type

These picks use four stated criteria: monthly cost at the turnover described, settlement and banking, POS fit and exit terms. ASBG did not test either terminal, and neither provider paid to be included.

Fees side by side

Why some sites still say Tyro charges 1.4%

Older Tyro pages, Finder's review (updated 16 September 2026), Mobile Transaction's review, the Tyro Go page and Square's comparison (Tyro data collected October 2024) all show 1.4%. Bendigo Bank's Tyro page, Tyro's own comparison and pricing pages as indexed, and QwikPay's 2 October 2026 analysis show 1.3% on Visa, Mastercard, eftpos and UnionPay. Tyro's offer terms also name 1.3% as the standard rate that applies after the offer. We use 1.3%, the figure from the most recent sources linked to Tyro. If you're quoted 1.4%, ask why.

Amex is where the two differ most

Zeller's 1.4% includes Amex. Tyro's 1.3% covers the four domestic networks only. Bendigo's Tyro page lists Amex and JCB costs as "available on application", and Mobile Transaction notes that some international cards require a contract directly with the card company. Amex funds settled directly by Amex are excluded from Tyro's same-day settlement. If a fifth of your sales are on Amex, get Tyro's Amex rate in writing before relying on the cost table below.

Terminals and the pricing model

Prices include GST, checked 18 October 2026. Zeller's comparison says Tyro's Tap to Pay works on iPhone only, but Tyro's and Telstra's BYO pages describe an Android version, so check your phone before you rely on it.

Buy or rent. Zeller sells its terminal outright, so a quiet month costs nothing beyond fees. Tyro rents its Pro terminals, which means a fixed $228 to $348 a year whether you trade or not. On a three-year view the Tyro rental adds $684 (Pro Lite) to $1,044 (Pro Touch), against $99 once for a Zeller terminal, or $199 if Zeller's discount has ended.

Blended or custom pricing. Both publish a single blended rate for smaller merchants: one percentage for debit and credit, whatever the card actually costs. Above $20,000 a month Tyro quotes custom pricing, which Mobile Transaction says can be interchange plus plus. Zeller's custom pricing starts above $250,000 a year. Cost-plus pricing passes the October 2026 interchange cuts straight through but makes each month's bill harder to check; our flat versus itemised pricing comparison shows how to test both on one month of sales.

Least-cost routing. Tyro's Tap & Save sends contactless debit taps under $1,000 through the cheaper network, Finder reports, although it isn't available on special offer pricing. On a flat rate, routing doesn't change the percentage you pay. Use the least-cost routing checklist to get your provider's setting in writing.

Settlement speed and banking

Tyro's account changed name. Tyro's pages say the Tyro Bank Account has been replaced by the Tyro Transaction Account, and some comparisons, including Zeller's, still use the old name. Search results for Tyro's banking page mention a new BSB for migrated accounts, so if you're an existing customer, check that customers paying you by direct credit have your current details.

What a Saturday looks like. Takings on a Saturday night reach a Zeller account by 1am Sunday, or a Tyro Transaction Account overnight if you meet Tyro's conditions. If you keep your main account elsewhere, Zeller's sweep arrives on the following business day, and Tyro's Saturday takings go out in Monday's file, with arrival depending on your bank. Either way, using the provider's own account is what makes weekend money usable before Monday.

Why the ADI point matters. Tyro Payments Limited is an authorised deposit-taking institution regulated by APRA, so money you hold in its transaction account or term deposits is protected by the Financial Claims Scheme up to $250,000 per account holder. Zeller holds an Australian financial services licence and says its savings funds sit with a licensed Australian bank, but it states that amounts in its Savings Account aren't protected by the scheme. If you keep large balances with your payment provider, that difference is worth more than a tenth of a percentage point. Our business bank accounts guide compares ADI accounts.

Reconciling either? Payouts net of fees are easier to match with a settlement bridge, and a short payout can be traced with the missing payout check.

POS integrations and hospitality features

Tyro has built its business around integrated EFTPOS. Its FY26 results presentation (25 August 2026) reports about 78,000 merchants, $44.3 billion in transaction value and 580+ POS, practice management and other software integrations, with hospitality making up 41% of transaction value and health 18%. Zeller's own comparison counts 330+ Tyro POS integrations, a narrower measure. Zeller says its terminal integrates with 600+ POS systems and offers its own free POS.

From each provider's pages and Tyro's partner listings, checked 18 October 2026. Feature lists on partner pages can lag releases.

Lightspeed's help centre lists Tyro as a legacy integration only for accounts that already have it, according to search results we could see (the page itself refused our request), so Lightspeed users should confirm before choosing Tyro. For any POS, ask both providers whether your exact version is certified, who supports the link when it fails, and whether tipping, split bills and refunds pass back to the POS. Test it with the integrated EFTPOS workflow check and the POS trial checklist. Our POS systems comparison covers the tills themselves.

Contracts and exit fees

We couldn't load Tyro's general terms to confirm the notice period or any unreturned-terminal charge, so ask for both in writing. Bendigo Bank's Tyro page notes that terminal rental is subject to Tyro's assessment. If a dispute with either provider isn't resolved, you can take it to the Australian Financial Complaints Authority.

What each costs at three turnover levels

Assumptions (illustrative): all card turnover taken in person on Australian-issued Visa, Mastercard and eftpos cards; one terminal; no Amex, international cards, refunds or keyed payments; standard rates as at 18 October 2026; no promotions. Tyro quotes custom pricing above $20,000 a month, so its $50,000 figures use the 1.3% standard rate for reference only.

The arithmetic at $20,000 a month:

• Zeller: $20,000 × 1.4% = $280.00. Year one: $280 × 12 + $99 terminal = $3,459.
• Zeller POS: $20,000 × 1.2% = $240.00. Year one: $240 × 12 + $99 = $2,979.
• Tyro Pro Lite: $20,000 × 1.3% = $260.00 + $19 rental = $279.00. Year one: $279 × 12 = $3,348.
• Tyro Pro Touch: $260.00 + $29 = $289.00. Year one: $3,468.

At $5,000 the same steps give $70.00 for Zeller and $65.00 + $19 = $84.00 for Tyro Pro Lite. At $50,000 they give $700.00 and $650.00 + $19 = $669.00.

Where the lines cross. Tyro Pro Lite matches standalone Zeller when the 0.1-point rate saving covers the rental: $19 ÷ 0.001 = $19,000 a month. With the $29 Pro Touch or Pro Key it's $29,000. Tyro never beats Zeller POS on standard rates, because 1.3% plus rental is always more than 1.2%. For phone-only acceptance, Tyro's BYO app at 1.3% costs $5 less per $5,000 than the Zeller app at 1.4%.

If 10% comes in by invoice or payment link (four $500 invoices a month at $20,000): Zeller costs $18,000 × 1.4% + $2,000 × 1.7% + 4 × $0.25 = $287.00; Zeller POS $251.00; Tyro Pro Lite $18,000 × 1.3% + $2,000 × 1.4% + $19 = $281.00 (or $282.00 if Tyro adds 25c per link). At $5,000 the figures are $71.75, $62.75 and $84.50; at $50,000 they are $717.50, $627.50 and $674.00.

The 1% offer at $50,000 a month. Suppose an eligible business is approved on 1 November 2026. November to March at 1% with no rental costs 5 × $500 = $2,500. April to October at the standard 1.3% plus $19 costs 7 × $669 = $4,683. The first 12 months total $7,183, against $8,499 for standalone Zeller and $7,299 for Zeller POS (including the $99 terminal). A business at that size would also be quoting custom rates from both, so treat this as a floor for the conversation.

Test the numbers on your own statement with the merchant statement worksheet. For the wider field, including bank terminals from 0.79%, see our EFTPOS machine comparison.

What changed with the 1 October 2026 surcharging reforms

From 1 October 2026 you can't surcharge eftpos, Visa, Mastercard, American Express or UnionPay cards, and PayPal's no-surcharge rule followed on 5 October, according to the Reserve Bank's FAQs. Weekend and public holiday surcharges and booking fees are not card surcharges and sit outside the change.

What that means for these two providers:

• Zeller switched surcharging off automatically on its terminals, Tap to Pay, payment links and invoices, and says its pricing isn't changing.
• Tyro's developer documentation says its surcharging feature was deprecated and retired by October 2026, with all surcharging set to zero. Its Dynamic Surcharging tool, which set a different surcharge for each card type, no longer offsets anything.
• Tyro's No Cost EFTPOS plan relied on surcharging: Mobile Transaction described it as waiving terminal rental for merchants over $10,000 a month who surcharge. QwikPay notes the plan is affected by the reforms. We couldn't confirm from Tyro what it has moved those merchants to, so if you were on it, check your current pricing letter.
• Interchange cuts reached flat-rate customers only if a provider cut its rate. Zeller's 1.4% and Tyro's published 1.3% were unchanged as far as we could see. Tyro's custom, cost-plus customers above $20,000 a month should see the lower caps flow through automatically.
• More disclosure is coming. Large acquirers must publish their fees from 30 October 2026 and show how interchange cuts have flowed through from 30 January 2027, and every acquirer must give more detailed merchant statements from 1 April 2027.

Why it matters: the 0.1-point gap between Zeller and Tyro's standard rates now comes out of your margin, along with every dollar of rental. At $20,000 a month the two cost almost the same ($280 against $279), so the decision turns on Amex, settlement, banking and POS rather than the rate. Work through every channel with the surcharge change checklist, and reprice with pricing strategy for small business.

Who should pick which

Choose Zeller if:

• you take less than about $19,000 a month in card payments, or your sales swing between busy and quiet months;
• you can run your sales through Zeller POS and get the 1.2% rate;
• a meaningful share of your customers pay with Amex;
• you want to own your terminal and leave without returning anything;
• you're happy with overnight settlement into Zeller's account, knowing it isn't covered by the Financial Claims Scheme.

Choose Tyro if:

• you take more than $19,000 to $29,000 a month on domestic cards, or qualify for the 1% offer;
• your venue runs a POS such as SwiftPOS, H&L, Bepoz or Impos and you rely on bar tabs, split bills or pay at table;
• you run a health practice and want claiming and practice management integration on the terminal;
• you want same-night settlement into an account with an ADI, covered by the Financial Claims Scheme;
• you prefer a rented terminal that the provider replaces when it fails.

Switching between Zeller and Tyro: a checklist

1. Pull 3 months of statements and split turnover by card type (domestic debit, credit, Amex, international) and channel (terminal, keyed, online).
2. Get Tyro's Amex, JCB, international and MOTO rates in writing, or Zeller's custom rate if you're above $250,000 a year.
3. Confirm your POS version is certified with the new provider, and test tips, refunds and split bills before go-live.
4. Check the old provider's exit terms: Tyro's cancellation timeframe and terminal return, or nothing to return with Zeller.
5. Update settlement details in your accounting software and bank feeds, and tell anyone who pays you by direct credit if your account changes.
6. Run both terminals for a week if you can, and keep a manual sales log for the changeover. Our outage checklist has a template.
7. Export your data before closing the old account; see changing POS systems.

How we compared

We read each provider's Australian pricing, product and support pages on 18 October 2026, Tyro's FY26 results presentation, APRA's ADI list and the RBA's surcharging FAQs. Tyro's website showed a bot-check page, which we did not attempt, so Tyro figures come from Bendigo Bank's Tyro page (issued by Tyro Payments Limited), Tyro's pages as shown in search results and dated comparisons by QwikPay, Finder and Mobile Transaction. We also reviewed Zeller's and Square's own comparison pages, which are marketing material. Costs use standard published rates and the assumptions stated. We didn't test terminals, open accounts or request quotes. For the head-to-heads with Square, see Zeller vs Square and Square vs Tyro.

Key takeaways

• Zeller charges 1.4% in person on all cards including Amex (1.2% via Zeller POS); Tyro charges 1.3% on domestic cards under $20,000 a month plus $19 to $29 rental.
• Tyro Pro Lite only costs less than standalone Zeller above $19,000 a month, and never beats Zeller POS at 1.2% on standard rates.
• At $20,000 a month in person, Zeller costs $280, Tyro Pro Lite $279 and Zeller POS $240, on published October 2026 rates.
• Tyro Payments Limited is on APRA's list of ADIs, so deposits with it are covered by the Financial Claims Scheme up to $250,000. Zeller says its Savings Account is not.
• Tyro lists 580+ POS, practice management and software integrations and gets 41% of its transaction value from hospitality. Zeller lists 600+ POS integrations.
• Card surcharging ended on 1 October 2026, so Tyro's surcharge-based No Cost EFTPOS pricing and both providers' surcharge tools no longer offset fees.

Where to get help

• Reserve Bank of Australia: surcharging FAQs for the card rules since 1 October 2026.
• ACCC: card surcharges for price display obligations, including weekend surcharges.
• APRA: Financial Claims Scheme deposit checker to check whether money held with a provider is protected.
• Australian Financial Complaints Authority if a complaint to your payment provider isn't resolved.
• Australian Small Business and Family Enterprise Ombudsman for help with a contract dispute with a larger business.
• Zeller support (24/7, according to Zeller) and Tyro support (7 days, according to Finder and Bendigo Bank's Tyro page) for account-specific questions.

Related tasks

See the payments and POS hub for settlement, refund and outage guides.