Services
> Accounts & Loans
/ Current
Accounts
This allows for simple and direct access to deposited funds belonging
to the account. As the main business account, permission to conduct
transactions under this account are always limited to a small number
of employees assigned by the officers of the company. The funds may
be accessed over the counter transactions, cheque books, direct debit
authorizations, and debit card withdrawals.
/ Savings Accounts
A business account can be set up to regularly reserve a part of your business’s
income as savings for a specific expense or service. Because a bank relies on
the money deposited by their clients to provide loans for other people, these
type of savings accounts offer high interest rates that apply to the current
balance in exchange for letting the bank access the money to fund loans.
Depositors are limited in their options for accessing
funds held in their savings accounts. Often, it is not possible
to draw on the funds directly through a credit or debit card, nor
are cheques allowed to be written against a savings account.
/ Small Business
Loans
Small businesses often rely on banks to raise capital through
loans. The most common type of loan is the business loan.
Terms and conditions
will vary and depend on the bank providing the loan – keep
that in mind when checking with your bank to find out whether
one of their loan packages is suitable for your company. There
may be
other better options available from other banks.
Small Business
Loan Scheme
In certain cases the Government may secure a loan for a small
business that have no assets or premises, conditions typically
required
by a bank in order to consider a business loan application.
/ Overdrafts
A business account may have an overdraft facility which gives
the business an extra source of funds that may be drawn from
directly
for a set rate of interest. This an agreed permanent loan and the
overdraft amount is applied to the business account directly and
is accessible in the same way as deposited funds.
Services
Home | Next >> Services:
Financing Options
|
