Cheapest, most expensive basic business bank accounts

An analysis of basic business bank accounts offered by the country’s major banks as well as newer entrants has revealed that small businesses are paying shockingly stark differences in bank charges. To compare costs, a basket of ‘typical’ transactions of a small business with under R5 million in turnover was used. This basket was developed in conjunction with professionals who have considerable experience in the industry.

This further shows that disregarding a bundled pricing option with a higher monthly fee may not make sense when a small business has a fair amount of transaction activity each month. * Inexplicably, electronic payments are free via Nedbank’s USSD channel. ** Excludes currency conversion fee. Digital banks raise competition It is obvious that the launch of TymeBank and Bank Zero in recent years caused most traditional ‘big four’ banks to relook at their entry-level propositions.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US earnings season starts with a bang thanks to big banks[ICYMI] MoneywebNow podcast with SimonPB, outlook for US earnings season and the hard-hitting impact of load shedding on the steel and engineering sector. Download podcast:
Source: Moneyweb - 🏆 5. / 77 Read more »

MONEY MARKET: Shoprite banks on winning over 18,000 Sassa beneficiaries as SA Post Office faces collapseThe government has indicated that it plans to mount a legal defence against the proposed liquidation of the SA Post Office, but in the interim, Shoprite seems to be making money moves with its ambitious plan to win over 18,000 Sassa beneficiaries.
Source: dailymaverick - 🏆 3. / 84 Read more »