Banking

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Deborah Vella added an answer to this question
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Deborah Vella

Deborah Vella at

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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.

Terry Chadban added an answer to this question
Top voted answer
Terry Chadban

Terry Chadban, Founder/Manager at Port Macquarie Online Marketing

Hi Anna,

If you are a small business owner, and just want to collect payments, have a look at both PayPal and Stripe. Neither of them have monthly charges, just a set percentage of the transaction, and both are easy to integrate into a website, especially if you use Wordpress to build your website, which you should do. :-)

All Australian banks charge a setup fee, plus a monthly fee regardless whether you actually make any sales or not, so I strongly recommend looking at Stripe in particular, but you may already have a PayPal account, and it is easy and free to upgrade it to a business account.

Jef Lippiatt

, Owner at Startup Chucktown

Great answer. I'm also a big fan of Stripe's simplicity and transparency.

Melanie Gray added an answer to this question
Melanie Gray

Melanie Gray, Managing Owner at

$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.

Cameron Marsden added an answer to this question
Cameron Marsden

Cameron Marsden, Managing Director at

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 ...  Continue Reading
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

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.