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Grant Mason
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Hello thekatsmiaow –

Here is my 2 cents.

Why have two accounts – expense, income – why not one account?

I don’t know about NAB, but I do know about ANZ and Commonwealth Bank merchant facility. I delayed getting a merchant facility for years from ANZ as I thought their rate was too high. I am with Commonwealth now and they are less than half.

Then, get an online savings account. I think I have three now for the business as you almost need to compare rates every quarter as the promotions do not last.

PayPal. I have this. Some people like it. I started with this before a merchant facility with Commonwealth as it is a cheap way to be able to accept VISA/Mastercard. PayPal has some niceties such as an e-mail when a payment is received. I told them I want in their payment request facility the ability to put in a company name rather than just an e-mail address which for my clients don’t always give hints as to what company they are (PayPal not interested in changing). Maybe PayPal has recurring payment authorisation capability, yet it has not been obvious to me. Now with Commonwealth, the PayPal commissions look more pricy. One renewed interest I have in PayPal is the ability to take AMEX which I am not separately signed up for.

Regards, Grant Mason
Gordon Executive Centre