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Thread: Which is the best of the 4 evils (small business banking)

  1. #21
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    Quote Originally Posted by HR Solutions View Post
    As much as I agree that time is valuable - you have to spend time researching something that is probably going to be a service provider for you for the next 10 years and spending a day or so finding the best option will save you lots of money over the next few years.
    Agreed, Problem arises when "a day" of research turns into "a month" of research, which happens very easily.

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    New Member Lynn_D's Avatar
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    It sounds like an e-Commerce website issue here - you only need a bank account for the money to go into and a paygate (not really necessary). Payfast paygate works best and most economical and you can set it to do automatic payouts.
    I've built quite a few e-Commerce websites which are simple and very easy to use. Some site owners have simple EFT payment set-up. The system sends invoice to client upon purchase and this invoice contains banking details. You don't let any stock leave the premises before the funds are secured of course. Some site owners use payfast - i've worked with them for the past 3 years now and is the best in terms of customer support and fees.

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    Quote Originally Posted by Lynn_D View Post
    It sounds like an e-Commerce website issue here - you only need a bank account for the money to go into and a paygate (not really necessary). Payfast paygate works best and most economical and you can set it to do automatic payouts.
    I've built quite a few e-Commerce websites which are simple and very easy to use. Some site owners have simple EFT payment set-up. The system sends invoice to client upon purchase and this invoice contains banking details. You don't let any stock leave the premises before the funds are secured of course. Some site owners use payfast - i've worked with them for the past 3 years now and is the best in terms of customer support and fees.
    Hi Lynn, Thanks for the input, i have, however, already got a payment gateway.

    what i really would like to know is just the opinions on which business banking account to go with.

    Like at the moment i believe that its a race between nedbank and fnb for me. Fnb is only marginally winning because they only charge R4 per payment via internet banking whereas nedbank charges R8.

    Luckily all my money will be coming in via a payment gateway so it doesnt matter if i change bank accounts later.

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