Home – New Forums Money matters Bank account setup advice Reply To: Bank account setup advice

Grant Mason
  • Total posts: 26

Re: need for two accounts. I have been after ANZ for years for a separate login so staff could access the account, not see any payments such as payroll, and not be able to make any payments. This would allow me to delegate receipt of payments into the accounting system. Of course ANZ could not be bothered (as I think most banks). If I did two accounts, one for payments, and one for income, the staff access to the income account would give the full capability to pay anyone – not what I want. PayPal is not good for this either. With PayPal you hook it up to a bank account. So you might have $0 in your PayPal account but if a payment is made it gets yanked from the attached bank account. So I keep the PayPal close to me as well.

While I am going on about banks:
* ANZ could never deliver on cutting the bank account statement off at the end of the calendar month – always a few days before. I could never get the message through to them with the business banking and silly surveys they do every once in awhile that BAS is always end of month/quarter so cut your statements then.
*ANZ online VISA card statements – can we have these statements with balance on every transaction – not just at the beginning of the statement and end of the statement – to make reconcilement easier?
*Points to Commonwealth: their statements are not only end of month but come with two hole punch already in them.

Watch out for MYOB who like to raise their annual subscription by something like 14% per year over the past four years without any new features. They think that they are an electric utility company.