Business Banking FAQs
The answers to your questions are only a click away.
Business Banking FAQs
The answers to your questions are only a click away.
Business Accounts
Do you offer bank accounts specifically for businesses?
At Summerland Bank, we care deeply about the local community because it’s our community, too. And we know that running a business takes dedication, vision, and the right financial partner. We have a range of innovative business banking options, tailored to meet your needs. For seamless day-to-day banking, Summerland Bank’s Business Plus Account is perfect for businesses with scale on the horizon. Explore our business banking options.
What documents are required to open a business account?
We make it as quick and easy as possible to get started. To open a Business Plus Account, we just need a few essentials including: your Business Registration Certificate or Certificate of Incorporation, as well as some ID for the awesome people running the show. If you’re not sure how to get started, our friendly local team is always here to help.
Can you integrate business banking with accounting software?
We make sure we are on a first name basis with your accounting software like Xero or MYOB, for maximum efficiency and peace of mind. Through our user-friendly mobile app, and internet banking, access complete banking solutions and do business on the go — or give us a call on 1300 802 222 and a member of our friendly, local team will be able to assist.
Is there a minimum balance requirement?
The good news is that there’s no minimum balance requirement for our Business Plus Account. Get started with any amount, and enjoy the flexibility of managing your finances your way, without the stress of maintaining a certain balance.
Can I have multiple signatories on the account?
Absolutely, you can have multiple signatories on the account. This feature is especially handy for organisations or groups where more than one person needs access to manage the finances. Adding multiple signatories offers flexibility and ensures that you can efficiently carry out transactions even when someone is unavailable. Getting set up is straightforward, and our friendly team is always here to guide you through the process.
Do you offer a business overdraft facility?
We have an extended range of credit solutions, overdraft accounts, business credit cards, and term loans, to cover your business’ cash flow needs.
Do you have merchant facilities and EFTPOS machines available?
Our comprehensive range of merchant services gives you all the tools you need for easy and secure payment processing, whether it’s in-person, online, or via mobile. From mobile, countertop and integrated EFTPOS terminals to helping you create a streamlined point-of-sale experience, find out more about our Merchant Facilities.
Can you choose between variable and fixed rate business loans?
Absolutely. We not only offer both Variable Business Loans and Fixed Rate Business Loans, but there are split loan options too. With Dedicated Relationship Managers, we offer easy and real-time access to business loans for small business, big business and everything in between. Easily compare the key features of our various business loan options and choose the one that’s right for you and your business.
Do you have interest only offers for business?
When you take out a business loan with Summerland Bank, you can take advantage of our interest-only offer for commercial purposes during construction. Find out more about our Business Loans.
Are there ongoing monthly fees?
With Summerland Bank, there are no ongoing monthly fees for eligible borrowers, meaning you can enjoy the benefits of taking out a commercial loan with a customer-owned bank.
Business Leasing
Do you have leasing options for businesses?
We have a range of leasing options built for modern business. If you’re looking to upgrade equipment, vehicles, or other assets for your business, but don’t want to purchase them outright — business leasing might be the perfect solution for you. Find out more about Business Leasing.
Can I purchase fleet vehicles with business leases?
Absolutely. Our business leases are perfect for vehicles, including: company cars or vans, delivery trucks, and heavy-duty or earthmover vehicles like tractors or construction equipment like cranes or bulldozers.
What about purchasing office equipment?
Required Computers and office equipment are subject to high-depreciation and are therefore only considered in certain circumstances. Retail fit-outs for shops and restaurants are also only considered on a case-by-case basis. Find out more about Business Leasing.
Do you offer tailored repayment schedules?
We sure do. Create a repayment schedule that works for you and allows you to make additional repayments, without the penalties or the stress of ongoing monthly fees.
How long does the process take?
Whether you’re in need of a Chattel Mortgage, Commercial Hire Purchase, Finance Lease, or Novated Lease, our application process is quick and easy. For business leasing, we offer a 90-day pre-approval period and ongoing facility reviews. Get to where you’re going sooner with Summerland Bank.
