Which bank for best fees and rewards ?

Discussion in 'Small Business' started by annaw5599, 28th May, 2016.

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  1. annaw5599

    annaw5599 Active Member

    20th Mar, 2016
    Who does everyone who has a small business use for banking? After a transactional account.... Is there a website you can use to compare what they offer in terms of fees and rewards ?? Turnover of the business we are starting is at around $300000. Not sure what the best way to go about this is (so new to this!) catching up with a mentor next week so will chat to him but just wanted to throw it out here ...
  2. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

    14th Jun, 2015
    Adelaide, SA
    With business banking, it's going to be a case of assessing what your business actually needs and balancing this with the offers.

    Some lenders will have competitive transactional products, others POS facilities, others business/commercial lending. Figure out what is important to you most in this regard and it makes it a lot easier to decide on.

    In terms of 'rewards', I find biz banking is more about gouging you than rewarding, so perhaps best to find the one which gouges you the least. ;) Bankwest, Bendigo Bank etc offer nil monthly fee transactional, CBA comes up often for their POS facilities being competitive for certain industries. ANZ/STG for those looking at commercial, biz lending can have some side benefits which will make your life easier later on.