Any recommendations on good bank for small business?

**spudboy** · 30th September 2009, 05:08 PM

I need to open up a new bank account for a new business we are starting, with 3 joint directors.

My usual bank (Commonwealth) will not allow us to use internet banking if more than 1 has to "sign" (we want any 2 to sign), and they won't let us have a "1 person to sign" under a given amount (we want only 1 to sign if it is under $1000). Can't believe their suggestion is to write cheques in this day and age

Went to ANZ and they sound much more positive and flexible, especially over the internet. Fees are a bit higher ($33 a month - Comm is $10 a month) but not too bad. Anyone got any good/bad feed back on ANZ? I've only ever banked with Commonwealth.

Any other small business owners got any other thoughts of who to try?

Thanks
David

**Ace** · 30th September 2009, 05:16 PM

We used ANZ when we had the games shop a few years back. Low fees, internet banking and aside from **** staff at the actual branch we found ANZ very good.

Another bank I think that looks after small business is Westpac, but we looked at both and ANZ proved better.

**Lotz-A-Landies** · 30th September 2009, 05:24 PM

Bendigo Bank

It'sNotWorthComplaining! · 30th September 2009, 05:43 PM

I just opened a business acc with the Bendigo community bank, the staff in branch as well as phone support have been very helpful towards my needs and don't Fob you off like the other banks do.
Give them a go

**Timj** · 30th September 2009, 06:37 PM

Heritage Building Society is about the best but you may not have access to them in Adelaide. They have dedicated internet banking for business that has the features you are looking for. Even if there is no branch network in Adelaide they may be worth looking at just for the internet banking.

TimJ.

**Hymie** · 30th September 2009, 07:05 PM

Originally Posted by Lotz-A-Landies

Bendigo Bank

Ditto, (no,, I dont own shares in it)

**Outlaw** · 30th September 2009, 07:07 PM

Yep as TimJ said... Heritage... i have 5 business accounts with them and always good. Even gave me a call once to confirm i had made a net transfer as they thought it looked unusual

Very happy with them.

**bblaze** · 30th September 2009, 09:42 PM

business account with westpac, was with comonwealth and had every thing with them untill we went through a rough patch in the last lot of high interest rates, wouldnt give them the time of day now.
cheers
blaze

**digger** · 30th September 2009, 10:34 PM

Yes I work for a BankSA so can only give you our information - but we do offer a business account for $10 a month for the monthly account keeping fee. Other charges do apply the same as any other bank. I dont know of any bank that will let you change the number of sigs required for a withdrawal depending on $$ amount. We do allow you to use internet banking if the directors authorise an override on the 2 to sign (just another form to complete) - we are also owned by St George who merged with Westpac last year so you can use St George and BankSA branches anywhere in Australia and Westpac ATM's for no fee (currently - further down the track you will also be able to use Westpac branches) this may help you if you are dealing with interstate customers. Also one stop shop as we have Merchant facilities, Business Insurance, Visa Business Card etc so should be able to help with all your business needs.

Hope this helps,

Mrs Digger

**d2dave** · 30th September 2009, 10:39 PM

What's wrong with the good old cheque book. We still use it with our business.

Dave.

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