Small market but great value for business accounts

15 August 2013

Small market but great value for business accounts

CANSTAR releases business deposit accounts star ratings today, collating research of 18 business deposit accounts across 8 financial institutions.

In terms of the number of financial products offered to business clients, the New Zealand market is comparatively small but CANSTAR research finds that when it comes to deposit accounts, size is no impediment to great value.

“CANSTAR conducts research and ratings of business deposit accounts in both New Zealand and Australia, comparing the pricing and features of transaction accounts and online saver accounts,”  says  CANSTAR General Manager – New Zealand, Derek Bonnar. “Despite the number of business deposit accounts assessed in Australia being almost five times greater than the number in New Zealand, the research found that increased choice doesn’t necessarily lead to better value. In fact interest rates of online saver accounts are comparable and average monthly fees on business transaction accounts are lower for small business owners in New Zealand.”

Star Ratings Report:

http://img.scoop.co.nz/media/pdfs/1308/NZ_Business_Deposits_Star_Ratings_2013.pdf

ENDS

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