Started a small Business, got my ACN, just awaiting my ABN. I would like to open an account for the business so it can receive payments and pay bills.
The business doesn't need an overdraft, however if it could have a high interest online savings account linked to it, that would be good as it is expected there will be times when the business has some spare cash on hand. All so, a credit card for the business may be handy. Not fussed re. interest rates as the card would be paid off in full before the due date.
Basically, it doesn't need any bells and whistles. Paying monthly fees for a bank account annoys the heck out of me!
I personally have a banking relationships with CBA and BankWest. I will give them a call and see what the best no frills business account they can offer is, but I'm not holding my breath.
One thing that annoys me about modern day banking is that they don't seem to care if you've been with them for 20 years or for 2 minutes. Infact, quite the opposite; often new deals are for new customers only and exisiting customers can go jump.
So if anyone recommends any Business Bank accounts, please let me know. Thanks.