Banking Q&A

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Melanie Gray added an answer to this question
What to do when you don't accept credit but a customer only pays by credit?
Banking

What to do when you don't accept credit but a customer only pays by credit?

What are our options?

1.47K views

7
Melanie Gray

Melanie Gray, Managing Owner at MyCL (My Computer Lab)

Top 10%

$19 Square reader.

All you need is a smart phone.

You can buy from Officeworks or Bunnings.

Charges 1.7% on all transactions.

Accepts Mastercard, Visa and American Express.

View more answers
Deborah Vella added an answer to this question
Am I better off borrowing with the same bank or should I cultivate relationships with several banking institutions?
Banking

Am I better off borrowing with the same bank or should I cultivate relationships with several banking institutions?

1.4K views

1
Top voted answer
Deborah Vella

Deborah Vella at Support Legal

Top 10%

It depends on what you are trying to achieve. With an ongoing business relationship, your bank may be able to assist you in different ways. However be careful of cross-collateralisation. On the other hand, with borrowing with different banks you may be seen more about the numbers.

Cameron Marsden added an answer to this question
What are the features of business accounts for sole traders - is Bankwest's zero transaction account the best option?
Banking

What are the features of business accounts for sole traders - is Bankwest's zero transaction account the best option?

We are looking at business transaction accounts, and it seems that Bankwest's Business Zero Transaction Account is the best. We were wondering whether the following are possible: 1) Export...

2.42K views

4
Cameron Marsden

Cameron Marsden, Managing Director at Bulletproof My Business

From personal experience Rosella, be careful - while Bankwest do offer a "fee free" account, you will get hit with fees for almost everything else. Not to mention that they take a LONG time to get an account opened - they took just over 6 weeks for me.
I have used it for one of my companies and ...  expand
Rosella Floral Designs

, at Rosella Floral Designs

We operate primarily from home (in order to reduce overheads), so our online activity is crucial. What in particular did you find to be hidden charges?

Cameron Marsden

, Managing Director at Bulletproof My Business

Mostly to do with Transactions - fees for overseas transaction whenever dealing with Paypal (Even though we are dealing with PP Australia) Also, a lot of credit cards as well - even though they are an Australian gateway and merchant, we were getting the same thing. The difference per month basically meant that it was cheaper to go with another, fee charging bank for the account.

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