View Full Version : Business banking
15-02-2011, 12:03 AM
I was wondering, why not start a thread with a poll on which bank is the best for business banking? We're at standardbank atm for business, with lots of hassles. For example, we're expanding, and need more display fridges, which in total cost R500 000. They only cover R400000 with asset finance, because they say they dont cover the delivery and labour charges. I mean what the hell? Then on top of that, they require a 50% deposit. So in effect we want to borrow 500, but to get that, we need to give 100 plus 200 thousand? That is just plain stupid. The worst is, they know how strong our business is, and that we can over and over afford the loan, and that we will probably pay it off by the end of this year. But still they dont want to help? Pathetic if they ask me. So whatever happens now, we will move to another bank soon, but which one?
15-02-2011, 09:48 AM
FNB have treated my small business very well. I can't comment on loans, but their account fees are the cheapest for both a cheque account and merchant services (CC machine). The extras like free internet banking an inContact is a huge bonus.
15-02-2011, 08:14 PM
must say i've always heard just good things about them. But for us it will be a huge move, so i want to be sure.
15-02-2011, 08:24 PM
Ones opinion on banks changes when it comes to loans. We are happy with Standard Bank as the business has always had cash in its account. One thing I did find with my personal account, the one that carries all the debt, is that Standard Bank jumped when I told them I was moving to FNB - offered me a better deal than FNB on my cheque account - before that, they gave me the worst service in the world.
Can say though that all banks suck, just each one sucks differently so hard to compare them.
15-02-2011, 10:17 PM
yes its true. But hell i mean they know us, they know we're standing strong and that what we want to buy with the loan, will improve our business, so we can grow, and at the end they will benefit as well. Just the 50% deposit alone doesnt makes sense. If my sister needs to borrow 1000 from me, then i tell her okay, but deposit 500 first. I mean come on?