• Sukkel
  • Sukkel
  • Contributions:
  • Questions: 1
  • Answers: 0
  • Reviews: 0
  • Points:
  • 120



Direct debit arrangements

  • Our business generates cash flow through a service conducted entirely on the Internet. We need to upload a direct debit authorization on the site for customers to pay and are just about to start talking to banks. It would be good if the accounts to which the credits go earn interest. We seldom need to write cheques, so online banking is fine, but a cheque book would be handy occasionally. Do you have any recommendations?
  • Asked by Sukkel (almost 3 years ago)
  • business banking managing money


  • Peter Marshall
  • Staff
  • Peter Marshall
  • Guru
  • Staff
  • Contributions:
  • Questions: 0
  • Answers: 110
  • Reviews: 0
  • Points:
  • 10510


  • Hi Sukkel,

    The main limitation you'd have here would be the need to have a cheque account, but I've come up with a couple of suggestions you might want to look at.

    The most straightforward would be AMP's eASYCash Management Account which has a cheque facility and pays 4.25% interest.

    If you want a better interest rate and are prepared to accept slightly less convenience there are a range of places that will set up two accounts, one for transactions and one for savings, you'd just have to remember to transfer as much as you can from the transaction to the savings account by the end of each month to earn the most interest possible in the following month.

    The highest ongoing business savings account rate we have on our site currently is the Bank of Cyprus Midas Account which pays 5.25%. You can compare all these accounts and their features using our business savings account comparison tool.

    Best of luck with your search...

  • Answered by Peter Marshall (almost 3 years ago)
Answers All-Stars
Points: 23075
Points: 10365
Points: 7740
Points: 7445
JR Nitsch
Points: 4910
About Answers All-Stars

Meet the Insiders

David Bryde
Greater Building Society
Colin Williams
Humble Investors
Christian Oey
Lisa Montgomery
Resi Home Loans
Elise Denis
Illawarra Home Loans
David Hayward
The Money Institute

Hello Industry

megaphone image

Are you a finance professional keen to share your expertise with our 50,000 strong Mozo community?

Join Mozo Answers as an Industry Insider.

Find out more

The legal stuff you should know

Postings should be regarded as general advice only, which do not take into account your personal circumstances and should not be substituted for professional advice. Mozo does not endorse any of the opinions expressed by individuals or vouch for their accuracy or authenticity.

A full version of the Mozo Answers - Terms of Use can be found here.