Winners announced in the 2021 Mozo Experts Choice Awards for Small Business & SMSF Accounts
If savings is on your agenda for 2021 or you simply want to manage your money more effectively as a small business owner, it pays to shop around to find the best banking deals out there.With so much on your plate running your small business, the less you need to worry about your banking the better. But the question begs, are you making the most of your money?
With factors like hidden fees, employee wages, cash-flow and much more to consider, shopping around will benefit the way you operate in the long run.
“By not shopping around you could be throwing thousands of dollars down the drain,” said Peter Marshall, Mozo Experts Choice Awards judge.
“With savings rates at such low levels, it’s more important than ever to proactively manage your accounts and get the best deals you can. In these awards, we compared and found that there was a vast difference between the lowest and highest interest rates of business accounts.”
And the crown goes to…
For the third year in a row, AMP Bank has been crowned the Small Business Savings Bank of the Year and it's not hard to see why. This year they were the only provider to take out more than one award across the Small Business award categories.
Finding a great everyday business account, business savings account or business term deposit is what the Mozo Experts Choice Awards for Business Accounts are designed to do. This year’s winners included; Bankwest, NAB, Suncorp, Bank of Queensland and many more.
Self-Managed Super fund standouts
If you like the freedom of controlling your funds for the future, having a self-managed super fund could be your key to financial freedom. This year, ME took out the title of SMSF Savings Bank of the Year with award wins in both the No Strings Savings and Term Deposit categories.
Other self-managed superannuation fund accounts who were high on the list of great offerings for small business owners were CUA, Rabobank, St George, Macquarie and Bank of Us.
To find out more check out the Mozo Experts Choice Awards SMSF Accounts and read the methodology report on how each banking product is judged.