Business Savings from RaboPlus
Opening a RaboPlus Savings Account for your business will help you make the most of surplus cash and maximise your profits. Our Savings Account for businesses offers the same great benefits no matter how big or small your business or bank balance:
High interest rate No Fees & No minimum balance
Your signi cant other bank
No need to switch banks 24/7 online access Transfer funds securely online Statements & Tax Certificates available online Easy access to Term Deposits Funds deposited with NZ's safest bank Sub accounts for specific purposes e.g. Provisional Tax, Dividends and GST…
RaboPlus.co.nz
Case Study: Synapse Group Limited
Synapse, are one of New Zealand’s leading software providers of mobile contact management and directory platforms. Providing software to Telecom’s many outlet stores enabling staff to transfer personal contact information to and from mobile phones. Synapse also specialise in the modifying and testing of mobile games supplied by global companies so they can run on New Zealand networks.
Why RaboPlus?
Synapse Vice President of Technology, Garth Stewart, became aware of RaboPlus when the bank launched back in early 2006, but wasn’t prompted to open an account until later that year. “My main bank charges me $90-$100 a month in bank fees… I knew that investing with RaboPlus would offset this and more.” says Garth. Promotion of RaboPlus’ ‘No fees’ feature prompted Garth to review what he was paying away in fees at his main bank. After realising that Synapse were being charged $90-$100 in monthly fees with little interest returned on their Working Capital float he decided to take action. “Not having to switch banks made RaboPlus the obvious choice” Not having to switch banks (which is a big disruption to any business) along with high interest rates, world-class online security and ease of use made RaboPlus the obvious choice for parking excess Synapse’ cash. By using the information found on the RaboPlus website, applying online and following the simple instructions, Synapse was able to setup their RaboPlus Savings Account and start banking securely online.
“Our Working Capital actually works!” Two years on and the Synapse strategy of using the interest they earn at RaboPlus to offset the fees and charges they incur at their main bank is still in place and they are now considering investing in other high yielding RaboPlus products, such as the Cash Advantage Fund where tax is capped at 30%.
Using RaboPlus
The flexibility that comes with no fees and online access means that Synapse are able to log in two to three times per week to transfer any required funds and pay for things like salaries, creditors and tax. “The historical statements and tax certificate print outs are a great feature” Once a month, Garth logs in to the Synapse account to print statements which are passed onto his Accountant and once a year he’ll print of f the tax cer tif icates. “RaboPlus gives me the simplicity and freedom I need to get the most out of my businesses working capital float… with no hidden fees or catches” says Garth.
www.synapsegroup.co.nz
Synapse usage of the RaboPlus Savings Account:
Weekly Transfers In Transfers Out Check Balance Print Statements Print Tax Certificates Monthly Yearly