Business savings accounts
A business savings account allows you to earn interest on your business funds. See current interest rates offered on business savings accounts here.
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Hi,
May I use a business saver account to pay monthly bills so money in every week and withdraw end of month? I am with St George bank now.
Thanks!
Hi Sam,
Thank you for getting in touch with Finder.
Please note that a business savings account is an account that allows you to earn interest on your business funds while you’re not using them. I suggest that you contact your chosen bank on how you may use your business account on paying monthly bills and other transaction. Basically, when you apply for a business account, you may speak with a business relation manager to discuss your options or apply online.
Please make sure that you’ve read the relevant T&Cs or PDS of the business account to help consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can I transfer funds electronically between Citi Bank and Commonwealth bank accounts
Hi James,
Thanks for getting in touch!
Yes, you can do an electronic transfer from your Citibank Savings to a Commonwealth Bank account. Note that for transfers to other Australian bank accounts – the payee would expect to receive the funds within 2 working days. Also, there are no fees charged for processing a domestic transfer.
Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
Best,
Nikki
I have a business which I deposit cheques and cash into a transaction account at a branch. What would I do if I transferred my accounts to an online branch?
Hi Bron,
Thanks for getting in touch with finder. I hope all is well with you. :)
Check with your bank if they have an online banking system that you can use. From there, you can also determine the exact steps to transfer your account to an online account.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
Why is there a difference in interest rates between a business saver account and a personal saver account? Is there any reason why a business cannot use a personal saving account and earn the extra interest?
Hi Barb,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
A business saver account and a personal saver account’ interest rates are different because a business saver account means it is an account regulated by Australia since it earns income hence it will be subject to certain tax rates that will not be relevant to your personal savings.
Hope this clarifies,
Cheers,
Nikki