Buying a business
You may be dreaming of being your own boss, or maybe you’ve spotted the next big thing and want in on the ground floor. Here’s how to buy a business in five easy steps.
Business Banking questions and answers
Business Banking FAQs
Contact one of our Business Banking Specialists or if you are already a customer, you can make Business Banking enquiries though Online Banking.
Yes. Our Greater Bank Business Credit Card can complement your business finances by enabling you to provide your staff with a card and keep track of the business spending, ability to make quick and easy purchases (including up to 55 days interest free period) with a competitive interest rate and lower fees.
A business line of credit may be useful for accessing funds to assist with cash flow requirements.
Our Greater Bank business line of credit offers competitive interest rates, lower fees and the support of our Business Banking Specialists.
A business loan may be useful for accessing funds upfront for longer term investments such as property.
Our Greater Bank business loans offer competitive interest rates, lower fees and the support of our Business Banking Specialists.
Yes. XERO allows business owners to provide their accountants with financial information via an online interface.
Once you register for XERO bank feeds, transactional data is uploaded automatically each morning.
MYOB (Bank Link) allows businesses to get accurate data reconciliation, automated expenses and secure access from anywhere.
Greater Bank's BPAY® Biller Service is ideally suited to Business Account holders with medium to large businesses.
The service allows a business to offer their customers the option of paying via BPAY, making it more convenient for your customers to do business with you.
Once application for the has been approved, you will become a BPAY® Biller and will be able to issue invoices to your customers which will include the BPAY Logo, a unique Biller code that we will issue to you and a customer reference number which will allow you to identify their individual customers.
Yes, for variable interest rate business loans.
Additional costs may apply to fixed rate business loans.
Greater Bank Business Loans allow you to borrow up to 90% for residential property security and up to 70% for commercial and light industrial properties used as security.
Yes. Under the Financial Claims Scheme, an account holder who is a body corporate, partnership, unincorporated association, or trustee of a trust is covered under the scheme up to the limit of $250,000 per account holder per authorised deposit-taking institution (ADI).
Greater Bank and Newcastle Permanent are both parts of Newcastle Greater Mutual Group Ltd, a single ADI. Therefore, a single $250,000 limit will apply to the aggregate balance of any eligible accounts held across Greater Bank and Newcastle Permanent.
For more information, go to www.fcs.gov.au
You can move money into your Greater Bank account through:
- Online banking or our app
- Direct credit access (via BSB and Account Number or PayID*)
- Over the counter at a branch.
Transaction limits depend on the transaction type:
|
Transaction Type |
Daily Limit |
|
Cash withdrawals over the counter at any Greater Bank branch |
$2,500.00 |
|
Cash withdrawals via ATM/eftpos cash out within Australia |
$1,500.00 |
|
Purchase limit per card (eftpos and Visa) |
$10,000.00 |
|
Daily Cash Limit any combination of:
|
$1,500.00 |
|
Third party payments and one-off payments processed over the counter at any Greater Bank branch |
$50,000.00 |
|
Osko by BPAY |
$5,000.00 |
|
Online banking |
$25,000.00 |
How we can help
Growing your business
We’ve combined our best tips and hints to help you take your business to the next level, no matter what your growth goals may be.
Starting a business
Being your own boss is extremely appealing, but without the right support, finance and advice, it can be hard to get your business off the launchpad.
We're here to help
PayID is administered by NPP Australia Limited ABN 68 601 428 737. Osko® and Osko by BPAY® are registered to BPAY Pty Ltd ABN 69 079 137 518. You should review the terms and conditions and consider whether the Osko and Pay ID service is appropriate for your personal circumstances.