Do I have to change my bank account?

Tyro can deposit your EFTPOS and eCommerce takings into any Australian bank account or you have the option to settle into Tyro's interest bearing, fee-free bank account. Tyro is a fully licenced Australian bank, which means your deposits are protected under the Financial Claims Scheme up to $250,000 per account holder.

How long does it take for the EFTPOS machines to arrive?

Once your application is approved, it'll take 2-4 business days for the EFTPOS machines to arrive.

How long does it take for funds to settle?

Tyro submits payment instructions for the previous day's transactions to the merchant's nominated bank in a file on banking days via the Bulk Electronic Clearing System (BECS). Non-banking days (weekends and Public Holidays) are submitted along with the next banking day's transactions. However, for merchants who settle their funds into the Tyro Bank Account, with Tyro's 'Flexible Settlements', merchants can select a settlement time for the same day (from 8pm) 7 days a week.

How do I transfer from a different provider?

You can keep your existing EFTPOS machine until your Tyro EFTPOS machine arrives.