Make the most of using a Business Online Saver account
Businesses can use one or more Business Online Saver accounts to manage savings and cash flow. Here are four top benefits:
Earn interest and increase business savings
- A Business Online Saver account pays you interest on your balance. With no minimum deposit amount and no monthly fees*, you can generate additional income on surplus funds.
- Even if you’re setting money aside for near-term expenses or future emergencies, you can grow your savings while having convenient access to your funds.
Use accounts as your financial organiser
- Businesses can set up multiple online savings accounts and deposit money for different business needs. This can help you plan ahead with purpose.
- That could be an account for tax, another for future investments or upcoming expenses. You can set up automatic transfers from a linked account to ensure your goal remains on track.
Improve cash flow management
- Busy periods can be a great time to boost savings and ensure you have more for the future. With a flexible online savings account, you can adjust your savings strategy to match cash flow fluctuations.
- Earning interest in recurring payments can also provide a boost when cash flow is tight. Interest on Business Online Saver account balances are calculated daily and paid monthly.
Gain control of spending and saving
- Stay on top of your spending and savings by having day-to-day transactions in an everyday account and setting aside savings in a Business Online Saver account.
- By linking these accounts and separating your savings, you can monitor your activity, reduce the risk of overspending and budget more effectively.
- If you have extra money that you don’t need instant access to, you can also connect other accounts that grow your savings. This includes flexible term deposits and at-notice accounts that have the potential to earn higher interest.
