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  1. 18-Sep-11, 10:38 AM #9
    Dave A
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    At the moment FNB seems to be the most cost efficient for business accounts. And it sounds like Capitec is the winner for personal accounts.

    Quote Originally Posted by daveob View Post
    Make sure that you KNOW and FULLY understand the implications of signing and unlimited letter of surity BEFORE you open that bank account - it will be used against you at the first sign of trouble with the business.
    Quite simply, don't sign unlimited sureties.

    If it's for asset finance, make sure it's for the finance on that asset only.
    If it's for an overdraft, make sure it's on that account only, and there's a celing value to the surety.

    Whatever you do, make sure anything that resembles an "or any other debt owed to the bank" type clause is removed before signing.
    Participation is voluntary.

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  2. Thank given for this post:

    AmithS (18-Sep-11), BusFact (19-Sep-11)
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