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  • #990911
    Chris8787
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    Hi everyone,

    I am currently in the process of setting up a business and would like an appropriate business bank account too.
    Some of the things I’m looking for are the following:

    – no monthly fees
    – online banking
    – no fees for receiving international transactions.

    Can anybody recommend decent bank accounts in Australia that can match the above criteria?

    Thanks for your help and I look forward to hearing back from you.

    Chris

    #1179091
    arrowwise
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    If you expect a decent level of service and communication from time to time, this will come with fees.

    Unless you have some product or deal connected to your account that can waive fees, I do not think you’ll find a true business Australian bank account without any fees.

    #1179092
    ShellysBookkeeping
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    Have you had a look at BankWest, they do have a business account with no account fees, but probably do charge for international transactions. You really need to look at all the T &Cs to check it will suit your needs. Otherwise prioritise what you need your account to do and then look to see which business bank account fits.
    I think all banks charge for international transactions, so best to shop around and compare the fee structure if this is where all your sales income is coming from.

    #1179093
    LucasArthur
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    Hi Chris

    My query is more about what has created this set of 3 key criteria?

    Is it that others are offering this already and you are trying to match it? or is it that you merely wish to avoid as many fees as possible?

    Just a side comment, and not sure what business you are in, although i am uncertain that i personally would undertake or engage any business service that is offering itself or its expertise for free… tends to have a catch somewhere, and quite hefty to boot… Just something to think about as i am not aware of any bank that has $0 fees for a business account, especially combined with your other expectations…

    When you are investigating it please just check everything out…. dont get caught somewhere unexpectedly, one of the worst things to happen is that you become reliant on a specific service or institution because they offer free services and then whammy they introduce fees and you are sought of stuck with the offering (even tough its now costing) cos the t’s and c’s provided them the opportunity to do this.

    Wishing you all the best and looking forward to you updating on where you went..

    Cheers
    Jason

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
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