With a Business Access Saver from St.George Bank your business capital is always at work.
Earn a competitive interest rate along with 24/7 access through internet and phone banking.
Pros
Earn a competitive interest rate
24/7 access through phone and internet banking
$0 account keeping fees
Cons
Must link to a St.George business transaction account
In this guide
Our verdict
Details
Key details
Key features
How to apply
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For those times when your working capital is greater than you need, you can tuck it away in a secure account. The Business Access Saver is a flexible account that lets your business funds earn interest at a competitive rate. With no monthly minimums to meet and free online banking, putting your business’ savings where they are needed most can be made easy.
Details
Key details
Product Name
St.George Business Access Saver
Maximum Variable Rate
1.05% p.a.
Standard Variable Rate
1.05% p.a.
Monthly Account Fee
$0
Minimum Opening Deposit
$0
Minimum Age
18
Key features
Competitive variable rate of 1.05%
Up to 1.05%
p.a. is available on your balance, allowing you to earn extra cash it is not being used. The interest rate is variable, which means it could change according to the movements of the RBA cash rate.
How is my interest calculated?
Interest on the account is calculated daily against the balance and added to your account on the first business day of the following month.
$0 account keeping fees
There are no monthly service fees for the account. However, it does need to be linked with a St.George business transaction account which may incur monthly charges.
Must be linked to a St.George business transaction account
You will need to have a business transaction account with St.George in the same business name in order to benefit from the features of the savings account. Compare other St.George products available.
No minimum balance
There is no minimum balance requirement for the Business Access Saver from St.George.
Easy access
You can manage your account online, over the phone or with a mobile device. With each of these you are allowed an unlimited number of transactions for free. Teller banking is also available for free for up to four times in one month. If you exceed that number there will be a $3 charge for every transaction.
Manage your account with mobile banking
You can conduct all of your transactions using a smartphone or other mobile device that uses an iOS or Android operating system. The St.George app allows you to view your account and make transfers in and out of it even when your business has you on the go.
Before proceeding to the secure application page, make sure that you and your business are eligible for this account:
Linked account. You will need to have an eligible St.George business transaction account already in place in order to be approved for the Business Access Saver account.
Business location. In order to qualify, your business must be registered to operate in Australia.
Depository requirements. There is no initial deposit necessary to open the St.George Business Access Saver.
Documentation needed
If you meet these eligibility requirements than your next step should be to gather the following information which will be asked for as you continue with your application:
Tax file number. Providing your tax file number (TFN) ensures that you are in compliance with Australian tax laws related to business and that the there is no extraneous withholding tax being applied to your account.
Australian business number. St.George will accept any of the following as proof that you are an Australian based business; Australian Business Number (ABN), Australian Company Number (ACN), Australian Registered Business Number (ARBN) or an Australian Registered Scheme Number (ARSN).
Transaction account. The account details for your St.George business transaction account will be needed so that you can easily transfer money into your new savings account. If you are not already a St.George business customer, you will be prompted to apply first for the transaction account before being able to apply for the Business Access Saver.
What happens after I submit my application?
Filling out the application will take approximately ten minutes, and once submitted you should receive an introductory email from St.George. This will let you know what your next steps should be in order to get your savings account opened.
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How we picked these
How the Finder Score helps you find a better savings account
The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards.
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