Bank advice please from KBers who are in Business [Archive]

FROSTY

18th December 2010, 15:50

Hey folks I'm hoping that you lot can offer some usefull advice.
Currently I'm with goldsteins bank and although the staff are pretty nice they actual bank offers very little for business banking.
If possible could I ask what Bank you lot are using and how proactive they are when it comes to working with you to achieve your goals?
Also if you have personal experiences to share it would be great

Reckless

18th December 2010, 15:58

Headbanger

18th December 2010, 16:02

ANZ tried to get me to take out a loan against my house when they "forced" me to have an interview with their "business manager" due to my wish to have an eftpos machine, at the time my company was trading nicely and had zero debt.

I told them they revolted me and they could go fuck themselves, The fuckers pretend they are offering business services and all they are doing is selling debt.

yungatart

18th December 2010, 16:11

ASB have been very good to me Frosty! Flexible and good to deal with.

I've heard the National are good. But the ANZ where not good to me at all after 25 years with them I wouldn't touch ANZ with a barge pole!

I have had the same experience with ANZ,
We have all our banking with Westpac now...they greet us by name, ask after our kids (by name). Nothing is any trouble in either our personal or business banking.
I highly recommend them

Stirts

18th December 2010, 16:16

Virago

18th December 2010, 16:20

Some personal observation:

Despite most businesses using internet banking these days, I still bank around 50-60 cheques a month. From the cheques received I can say that by far the most popular business banking choice is National, with ANZ and BNZ well behind.

I bank with Westpac, which is a surprisingly unpopular business choice. But I can say that they've been very good to deal with over the last seven years in business.

JimO

18th December 2010, 16:24

I have had the same experience with ANZ,
We have all our banking with Westpac now...they greet us by name, ask after our kids (by name). Nothing is any trouble in either our personal or business banking.
I highly recommend them

fuck westpak...........your name, nickname, childrens names come up on their screen when they put your acc# in

Pussy

18th December 2010, 16:54

I have a mortgage with the National Bank.
When we got the mortgage, it was less hassle than going down to the shops for a loaf of bread. I rate them

Fatt Max

18th December 2010, 16:59

I used to work for ASB in their head office and got to know a few of their senior people. They are really pushing for rural busines so unless you are a farmer, they may not be the people for you.

From what I hear, it really comes down to either National or Westpac. Everyone I know says keep the fuck away from the BNZ.

I was in business back in the UK and had the same dilema. At the end of the day, you have to see all of them, see who really 'understands' your business and, most of all, see who you click with.

Remember, you will need these guys to support you so you want to make sure they speak your lingo

Good luck, respect and best wishes, its a daunting road ahead but keep calm, everything will work out

Headbanger

18th December 2010, 17:28

MSTRS

18th December 2010, 18:07

fuck westpak...........your name, nickname, childrens names come up on their screen when they put your acc# in

Bullshit...

Edbear

18th December 2010, 19:40

I have had the same experience with ANZ,
We have all our banking with Westpac now...they greet us by name, ask after our kids (by name). Nothing is any trouble in either our personal or business banking.
I highly recommend them

We switched to Westpac after being with National for many years and having a bad experience with them. Westpac have always treated us very well and I have no complaints after 12 years now. I have two business managers for three businesses and they have never been less than friendly, supportive and obliging!

Certainly you have to do your part and know what you're doing, be ready to listen to good advice and be honest. If you have a sound business plan your business manager can be a great ally. I have heard goods things about Kiwibank, but we have now got everything with Westpac including last week changing all our insurances over to them as they were saving us a few hundred bucks a year. (Lumley's is their underwriter so I have no issues with them either.)

madmal64

18th December 2010, 20:52

Im with National Bank and have found them to be very good all round. They have some great business tools available too. http://www.businessresourcecentre.co.nz/ for the home page.
I have attended a couple of their workshops which they run at no charge and found them worthwhile.
When I was looking to purchase my business I put the same business plan & proposal to 3 banks and the best "deal" I got was from National by far.
Their support and contact with me is brilliant

HenryDorsetCase

18th December 2010, 22:23

I had banked with National Bank since I was a schoolboy, and they were fantastic, lent us money for our first house etc, but we came to a parting of the ways when they charged me a $3k break fee on a loan (of about $40k) secured by mortgage. I asked them to consider whether they wanted their three grand now, and to consider how much interest I would pay them over the term of the mortgage etc etc. When they declined, I said thats fine, that is the last dollar of mine you will ever see. Not disputing that the contract said there would be break fees, or their right to charge it, just questioning a mentality in that industry that sacrifices a long term customer relationship (both past and future) for a one off transaction fee. So I wouldnt recommend National (and its ANZ National too).

Went from there to AMP Bank when it was standalone, but when I became a partner in the firm I had to refinance to Westpac. That has worked out OK to be honest. Our manager buys us (the whole firm) morning tea a couple of times a year, picks up my call when I ring, and is a good bastard. Though he is our business manager, he does all our personal stuff too.

I am quite happy to recommend them to be honest.

Quasievil

19th December 2010, 07:21

I bank with the New Zealand Government I make lots of deposits every week, its not such a good system as I can make withdrawals apparently I need to be a bludger or have multiple children or have another needy requirement to do this, so thousands have access to my account and I dont !!!

I also make a few pathetic sized deposits with Kiwibank, they seem good so far
banks are banks in my view, they all suck

tri boy

19th December 2010, 09:17

banks are banks in my view, they all suck

Dude, you must have some serious sway with them.
I can only dream of such customer treatment.
The cleaners must work overtime, and the tissue bill must be horrendous.
Thats the deposit they don't advertise.

Quasievil

19th December 2010, 09:38

Dude, you must have some serious sway with them.
I can only dream of such customer treatment.
The cleaners must work overtime, and the tissue bill must be horrendous.
Thats the deposit they don't advertise.

yeah I reckon, I said Suck tho not swallow, so they aint that good

Mully

20th December 2010, 09:37

Not bidness, but we used to be with National. They were a pack of plonkers.

My personaly favourite time was when we deposited $1100 cash in an ATM on a Sunday and it didn't clear until Friday:

Me: Why has that money not cleared?
NB: It takes 5 days to clear a deposit through an ATM
Me: But it was cash
NB: Yep, we know
Me: So what needs to "clear"? - It's cash
NB: It just takes 5 days to clear
Me: So you have use of my money for 5 days and deny me access to it?
NB:
Me: I'm glad our mortgage is coming up soon.

And when we changed, I mae sure I told their idiot why.

Frosty have a chat to other car dealers about which bank they use - your situation (buying in JPY, etc) is a bit different from a purely domestic business.

firefighter

20th December 2010, 09:53

It swings in round-abouts.

There is someone with several bad experiences to tell about with everybank.

I'm a little bit National Bank biased as my ex works in business banking and I see how personally and seriously she takes her customers needs. In saying that there are fuckwitts in the same role. It's really the same everywhere.

For internet banking, if that's important to you, Westpac without question are light-years ahead. My ex is even considering opening an account with them, they are even better than RaboDirect which are an online-only bank.

Customer service wise, if you are'nt happy with the result you are getting, ask to deal with a different Business banking consultant. Simple.

BNZ are in the dark ages with online banking, so i'd steer clear. I closed my account with them after a couple of months as I was required to talk to someone to do something as simple as set up a term deposit. Don'y get me started on having to deal with the people on the phone if you have'nt set up phone banking-you can't, and opening new accounts etc, it's all still set up for going into the branch.....fuck that.

Bald Eagle

20th December 2010, 09:57

They all suck.

Banked with Westpac since 1975 ( When they where CBA ) had tow business and clered two mortgages in that time. When my self employment turned to shit they where all over for every penny.

No bloody loyalty. When I finally get out from under they won't see me for dust.

ANZ screwed us over on break fees on a mortgage lately ( $14k worth)

On line transfer of funds from a Westpac account to ANZ account recently. Westpac account debited immediately. ANZ took 5 days to clear the funds.

They all make money 'holding' our money for 5 days. Imagine the interest on 5 days worth of all the interbank transfers every day. That's why they have such nice buildings

If I could I'd deal in cash and have nothing to do with any of them.

firefighter

20th December 2010, 10:07

Oh yeah, steer well clear of Kiwibank for your business banking needs, unless you have a very good understanding of banking systems etc. Look at the 'branches' you will be going into.....do you really have time for that?! hahaha, I don't!

Kiwibank are fine if you know what you are doing, but i've seen the calibre of the staff in their branches and the long waits for a single CSO and fuck that for a joke. :facepalm: Whoever voted for them must not have has business banking in mind.

HenryDorsetCase

20th December 2010, 10:13

Frosty have a chat to other car dealers about which bank they use - your situation (buying in JPY, etc) is a bit different from a purely domestic business.

thats a good idea. one of my clients who does similar to what you do is with BNZ and really rates them.

firefighter

20th December 2010, 10:16

thats a good idea. one of my clients who does similar to what you do is with BNZ and really rates them.

Obviously he does'nt have a need for internet banking services......which seems odd.

HenryDorsetCase

20th December 2010, 10:51

Obviously he does'nt have a need for internet banking services......which seems odd.

You do notice on the BNZ site they have two logins for internet banking? one for business one for personal?

same as westpac: the customer interface on our work package "Deskbank" is utterly different to the personal login.

steve_t

20th December 2010, 11:13

I like ASB's internet banking. I think it's the only one that's "real time". Payments from other people's ASB accounts show up instantly. Other banks' payments are still overnight.
Whoever you go for, try and play them off against each other. The banks want your business and have quite a large scope for bending their own rules to get it. Things like merchant service fees and interest rates are highly negotiable :yes:

firefighter

20th December 2010, 12:38

You do notice on the BNZ site they have two logins for internet banking? one for business one for personal?

same as westpac: the customer interface on our work package "Deskbank" is utterly different to the personal login.

You are right, by chance I was speaking to my brother this-morning and it came up in conversation that his company uses BNZ for their banking and they seem to be pretty sorted with the business side of things. Obviously it's just the personal users that get the shit internet permissions.

gw555

20th December 2010, 12:41

Had business banking with Westpac since 1986 never ever had a problem with them.

Changed all my personal stuff to them 10 years ago after banking with BNZ and then having a run in with them.

scott411

20th December 2010, 15:49

we used to be westpac but changed to bnz a few years ago, and think it is an improvemnet, we have a much better business manager now which helps alot,

BNZ does real time transfers between BNZ accounts, so the boys can see their pay as soon as we do it not next day,

BNZ business online banking is much better than the personal side (i use both)

HenryDorsetCase

20th December 2010, 16:00

Just on this topic, I need a form from ASB to allow one of their clients to receive a fairly chunky monthly payment. Its for some commercial leasing where we act for the landlords. So I cruise over to the ASB site so I can download one of their forms. I am sitting looking at the Westpac one (which we have plenty of) and it is entitled (wait for it) "Authority for Automatic Payments".

Do you think I can find it, or find anything resembling it, on the FUCKING USELESS ASB site? Like hell. Do you think I can get one of their morans to talk to me on the phone? not so much.

Based purely on that experience of the last half an hour, ASB suck donkey cock.

p.dath

20th December 2010, 16:05

ANZ and National are the same damn thing now ain't they?

Working in the "Business Sales Indusrty" for two years and all the S&P deposits are going into Westpac accounts, including solictors fees etc my "educated" guess would be Westpac all the way.

ANZ owns National Bank.

We used to be with ANZ long ago. Very glad we left them. We are now with National bank and they have been great. We pay for their business consultant service (whatever it is called). Costs about $120. One of the big pluses though is we have an actual human dedicated to us that we can call for help. He has the authority to actually do things. He is usually able to act on a simple email request. It makes life so much easier.

Edbear

20th December 2010, 16:59

ANZ owns National Bank.

We used to be with ANZ long ago. Very glad we left them. We are now with National bank and they have been great. We pay for their business consultant service (whatever it is called). Costs about $120. One of the big pluses though is we have an actual human dedicated to us that we can call for help. He has the authority to actually do things. He is usually able to act on a simple email request. It makes life so much easier.

My Business managers are free with Westpac... Get the same service. Direct line including mobile, authority to do anything I want on the spot... Can't complain...