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Make the most of internet banking 15 Nov 2018

Are you using internet banking yet? Devices such as BNZ’s Netguard are making it increasingly more difficult for anyone to hack into an account.

There are several advantages of internet banking. They include:

  • Save time writing cheques and posting them
  • Save postage and stationery
  • Save bank fees and your time writing up bankings by having customers pay directly into your account. This also means fewer trips to the bank.
  • Have tighter control over cash flow by knowing your on-going bank balance and payment commitments.
  • You will often be paid more quickly.

To make the most of internet banking:

  • Put your bank account details on your invoice with a note inviting your customer to pay directly into your account.
  • Set up your payments as the bills come in. You can put in any payment date you choose.
  • Set up your tax payments in advance so you don’t forget them.
  • Some expenses are partly business and partly private. Use Internet banking and make two payments, one from your business account and the other from your personal account, to avoid having to split up those costs later.

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