Tag: Business Banking

New financial research has shown Australians are more satisfied with Sydney-based banks than Melbourne-based ones.

We asked three bankers their opinion on how small business owners should choose their business bank, the questions they should be asking, whether they need a separate bank for their personal affairs and how important fees are.

The major banks are becoming increasingly different in their approaches to the business banking market, according to recent customer satisfaction results.

Whilst some businesses prefer to make use of a bank overdraft, there are a number of disadvantages of using this method of credit. Use this checklist to see whether an overdraft is right for your business.

For years, business owners have been able to log onto their online banking service to check their cash position, any time of the day or night. But how complete is the information you see on your screen?

Bankers are judgmental – they have to be as they’re given limited information about their client and are expected to spot clues about credit risk from the basic information available. Given this, there are a few simple ways you can ensure your business appears low risk to the bank.

With insolvencies continuing to rise, SME owners and directors need to ask themselves if they’re being proactive in managing their banking relationship, both in good times and in bad.

Demand for business banking products has dropped significantly over the past four months, with commercial banks including the Big Four local providers as well as regional and international banks all reporting a downturn in demand.

In comparison to personal customers, small businesses are being treated as second-class customers by Australian banking providers, leading Mozo.com.au to launch a comprehensive business banking comparison service to help small business owners compare their options.

Small businesses see little difference between the Big4 major banks and regional bank brands such as BankWest, BankSA and St George, new research has found.