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Banking Resources for Start up Businesses

 

When starting a business, your choice of bank or other financial institution can be crucial.  Typically, when deciding on your financial institution you will have a number of questions going through your head.

  • Do they provide the banking services I need?

  • What is their cost structures?

  • Will I be able to work with them?

  • Do they have the locations you need?

  • What is their attitude to lending me money  (if needed)?

 

To find the answers to these questions you will need to research the banks.  Following is a starting point to do this.

 

Australia’s Leading Banks

Below are website links to Australia’s leading banks.  The average small business owner would be familiar with most of these names.  Some banks aim to service particular market segments.  For example, Elders Rural Bank obviously targets rural clients.  Similarly, Rabobank targets food and agribusinesses.  You are likely to use the internet to research your bank, but ultimately business success is about people so you should visit your local branch and establish the face to face relationship before you choose your bank. 

 

ANZ Internet Banking

Bank of Queensland. Banking and finance Australia.

BankWest - Online Banking

Bendigo Bank - Branch Banking

Commonwealth Bank of Australia - NetBank - Home

Elders Rural Bank - Online Banking

Macquarie Bank Limited

National Australia Bank - Internet Banking

Personal Banking Australia. HSBC personal banking.

Rabobank

St George Bank Limited

Suncorp - Homepage

Westpac Banking Corporation

 

Australian Bankers Association - ABA's Code of Banking Practice

 

Credit Unions

Increasingly Credit Unions are targeting small to medium sized businesses to provide a full range of traditional banking services and they would claim (probably correctly) at a more competitive price.

Australian Credit Unions

 

Having Problems with Banks? 

The relationship with a bank is not always a smooth one.  If you are having problems or just wishing to know what is acceptable practice the links below will provide a solid starting point:

Banking and Financial Services Ombudsman

Australian Government Consumer Help Banking

Banking Legislation

 

Substitute Banking Services

The online revolution has provided a number of online substitutes for banking services.  The most obvious of these are merchant facilities and credit card facilities that are now provided on line with organisations such as Paypal 

 

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