Banking - commercial/farm personal

  • Andrea
  • Andrea's Avatar
8 years 3 months ago #40131 by Andrea
Banking - commercial/farm personal was created by Andrea
Not too happy with current bank's lack of understanding of our needs...

For people who are in business for themselves, how have you handled your personal and business banking needs? Are there some banks which are better than others in that respect... small business-wise especially.

I would to find the 'perfect' bank and be able to switch all our accounts over, but I have a feeling it's not going to be that easy...

Please Log in or Create an account to join the conversation.

More
8 years 3 months ago #511548 by Sue
We have 4 bank accounts, 2 x business, 1 joint personal and one for the Family trust. Find it quite easily shuffling between accounts on line, paying gst and tax on line, getting farming related updates and the Business manager always helpful. I think it comes under the heading of an Agri business account. I guess it might depend on which branch or region you are in as to how helpful they are?!
We used to be with National before the takeover.

Sue
Labrador lover for yonks, breeder of pedigree Murray Grey cattle for almost as long, and passionate poultry person for more years than I care to count.

Please Log in or Create an account to join the conversation.

More
8 years 3 months ago #511552 by LongRidge
We only use banks and insurance companies that we can visit easily and talk to a person. That way it is possible to find the person who knows the person to get things done.
We use 2 banks, and have many accounts. We do not have a business account at all, but we separate business and personal ins and outs ourself for the accountant.
Personally, I would not use ANZ because when we tried to go guarantor for a son's house loan, they could not understand why I objected to their requirement to know my income, even though they knew we had paid 33% of the property price. Also because of what ANZ have done in Aussie on foreclosing some properties without consultation.

Please Log in or Create an account to join the conversation.

More
8 years 3 months ago #511554 by Organix
We were previously with National Bank and getting increasingly frustrated with difficulties in communicating with them despite having a 'business manager'. Years earlier I had avoided ANZ and the takeover by them was the perfect opportunity to jump ship. I have occasionally had to visit ANZ banks and had no desire to go there.

We went to TSB with our personal and business banking and we've been happy with their service ever since. We can call our local branch and speak to our usual contact person easily and if she is otherwise busy the person answering the call can usually deal with the issue, or pass on a message that is promptly called back on.

The only issue for us is that TSB rely on ASB for their Visa cards so transfers from current account to Visa balance usually have an 8 hour delay. This wouldn't be an issue for most customers but as an online business topping up our Visa for linked PayPal transactions isn't as streamlined as we would like, but definitely not a dealbreaker in the greater scheme of things.

And as we are Taranaki based we aren't only supporting a non-Aussie bank but also one that supports our local community :D

Harm Less Solutions.co.nz
NZ & AU distributor of Eco Wood Treatment stains and Bambu Dru bamboo fabrics and clothing

Please Log in or Create an account to join the conversation.

More
8 years 3 months ago #511560 by Andrea1
Thanks for the feedback, folks. One thing we would like to do is use a NW-owned bank, and have heard good things about TSB.

Wish there were more Credit Unions here. Used them for many years in the US and the fees were either very low or non-existent, and they were all locally owned and run.

Please Log in or Create an account to join the conversation.

More
8 years 3 months ago #511562 by muri
I have all my banking with Kiwibank, business, personal and trust. My mortgage is an offset mortgage, so all the monies in my other accounts offsets my mortgage [I think called variable with other banks] so I pay almost no interest as I have money in my other accounts.
I wouldnt call it the perfect bank but I at least it is NZ owned

Please Log in or Create an account to join the conversation.

Time to create page: 0.162 seconds