Compare Bank Accounts for Australia

Business Accounts Compared
Provider Account Name Account Fees Minimum Balance Information
Account Fees
Minimum Balance
Account Information

Get unlimited fee-free Internet and Phone Banking 24/7, EFTPOS, St.George/BankSA/Westpac ATMs (in Australia), direct debits and direct credits.

Provider Account Name Account Fees Minimum Balance Information
Account Fees
Minimum Balance
Account Information

This account offers free and unlimited day to day electronic transactions and a generous allowance of free branch and cheque transactions each month.

Business Banking Explained

When starting a business one of the most important decisions that needs to be taken is the type of business bank account to open. Some people are tempted to open an account with their existing bank and as a result either miss out on higher interest rates or lower fees. Over the long run the savings or earnings can be quite significant so it is important to compare different business bank accounts.

  • The basics
    A business bank account should enable business to manage their cash flow, this means the minimum facilities that might be necessary may include: a pay in book and cheque book. Some business will want the ability to issue standing instructions to their bank as well as have regular bills paid by direct debit. Almost all business accounts come with these facilities as well.
  • Charges and interest
    Generally the greater the value of the transaction, the higher the fee will be. Fees can actually be negotiated with the bank, so don’t be afraid to open a dialogue with them if you feel they are too high, or other banks are offering lower fees. If most of the transactions are electronic, then it is worth considering an account that offers low cost or fee free electronic transactions. Alternatively businesses that make most of their payments should look for accounts that offer low fees for paper transactions.
  • Access
    Business accounts also come with internet and telephone banking, so you will have 24-hour access to your business bank account.
  • Advice
    Ideally a business bank account should also come with an advisor, though that is not always the case because many businesses have no requirement for that level of service. Some banks however do have dedicated teams whose job it is to advise small business. Others simply offer advice over the telephone.If you are seeking a business bank account then is the best place to begin your search. As a financial comparison site, consumers and businesses can compare a range of options offered by a huge variety of banks and make a choice that is extremely suitable for them in a quick and easy way.

Latest Compare Bank Accounts News from the comparedinkum Blog

Westpac Banking And Insurance Customers Entitled To Refunds

Westpac has announced that as many as 200,000 of its insurance and banking customers may be entitled to receive a part of a $65 million package of refunds after it was revealed that the lender failed to properly apply discounts to specific package deals. Westpac admitted it made an error which is likely to affect customers who hold Premier Advantage Packages. St George and the Bank of Melbourne customers who have held Advantage Packages since 2010 will also be entitled to receive refunds. Continue reading

Goldman Sachs Could Set Up Online Retail Bank In Australia

Australian banks have been put on notice after global investment bank Goldman Sachs announced that it is intending to enter the UK market with a high-interest online savings account in 2018. In an interview with the Financial Times, Stephen Scherr of Goldman Sachs said the investment bank plans to increase its retail profile by offering online personal banking in the UK in the same way it has already done in the US. The bank intends to provide consumers with easy-to-use savings accounts that offer high rates of interest. Continue reading

ANZ Adopts Samsung Pay Giving Customers Extra Choice

Australian banking major ANZ has added Samsung Pay’s digital wallet platform which makes it the first of the big four lenders to allow its customers who hold debit or credit cards the option of choosing between Apple Pay and Android Pay. ANZ said it is allowing its customers to choose any of the major mobile payment technologies as well as its own platform ANZ goMoney. The bank said the decision was driven by a desire to offer customers superior services by embracing digital technologies. Continue reading

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