At CPI Finance we understand that the core financial transactions of a business, revolve around a banking institution and the associated services to allow receiving, paying and use of your money. It is an important aspect of a business, and at CPI Finance we build these needs into your business solutions.
Overview – Transaction Options
The needs of a business will vary depending on account balances, number of transactions and technology advancement to name a few. However, generally the needs fall into the following categories.
- Working account
- Surplus cash
- Internet banking
General questions to find the right solution for the core trading account should be based around some of the following.
- Average number of transactions, and type of transaction. E.g. branch deposits, cheques, electronic transactions.
- Signatories. Who needs access, and what limitations are on the signing authority.
- Average balance of account.
- Swings of account balances.
Best use of surplus cash should be reviewed, but may include some of the following.
- Online high interest bearing account.
- Offset to business loan.
- Held in an interest bearing working account.
There are several platforms for internet banking depending on the complexity of your business. Typical questions would be around some of the following:
- Daily transfer limits
- Need for import and export (E.g. payroll)
- Who needs access
- Types of access. Full access, administration only, view only etc.
Why CPI Finance
We understand the frustrations around bank accounts, so at CPI Finance we have developed some forms to use on your behalf to make sure your principle bank understands your needs. Additionally, many banks offer packages that CPI Finance can request a review of your situation to see if there are better options available to you.
CPI Finance tip
“In a refinance situation, this is usually an area that is neglected and causes the most frustration. By reviewing the needs upfront and weighing up the benefits, CPI Finance can help you make an informed decision as to if you keep your working account where it is, or choose to take advantage of a better offer”.