Business account – Sarah Long http://sarahlong.org/ Thu, 24 Nov 2022 05:09:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://sarahlong.org/wp-content/uploads/2021/10/icon-44-120x120.png Business account – Sarah Long http://sarahlong.org/ 32 32 Co Derry man in limbo as bank suddenly closes business account https://sarahlong.org/co-derry-man-in-limbo-as-bank-suddenly-closes-business-account/ Tue, 22 Nov 2022 18:00:00 +0000 https://sarahlong.org/co-derry-man-in-limbo-as-bank-suddenly-closes-business-account/ A County Derry man was left with less than two months to repay his Covid-19 bounce-back loan after the bank closed his business account without warning. Personal trainer and nutritionist Odhran Fleming first noticed problems with his Ulster Bank business account in June 2022 when letters and emails about missed payments started coming in. “I […]]]>

A County Derry man was left with less than two months to repay his Covid-19 bounce-back loan after the bank closed his business account without warning.

Personal trainer and nutritionist Odhran Fleming first noticed problems with his Ulster Bank business account in June 2022 when letters and emails about missed payments started coming in.

“I knew I had money there, so I checked and realized my bank account wasn’t there,” the Limavady man said.

“The only thing that was there was my bounce loan, so I contacted the bank who told me to go to the branch.

“The branch pushed me to another number, who pushed me to someone else, then someone else, and no one was giving me answers.

“Answers to why this happened, how long I’ll be without an account, and if I’ll ever get my money back.

“I filed a complaint with the [financial] the ombudsman who told the bank they had eight weeks to get back to me with a reason why this happened.

“After that, the account came back online about two weeks later, but they had until September 8 to issue a response.”

Documentation seen by the County Derry Post shows an email from Ulster Bank responding to Mr Fleming’s complaint on July 1, 2022.

A further letter from Ulster Bank dated August 30, 2022 informed Mr Fleming that it had ‘decided to terminate’ the ‘banking relationship’ from October 29.

On October 11, another letter from the bank stating that the previous letter had been sent “in error” and that Odhran should “ignore” the correspondence.

However, less than a week later – on November 4 – another letter arrived from Ulster Bank telling Mr Fleming that his account would be closed on January 3.

“Last week they deleted my work account again,” said Odhran, who runs Nutri-Train at Limavady.

“It affects my rent payments, electricity payments and everything else I pay through it. If I pay something personal, it can’t go through taxes.

“I’ve missed phone bills, affecting credit scores and there’s no reasoning, no support, nothing. It’s ‘we’ll take your money and you have to wait for it to be returned.’

The now closed Ulster Bank branch in Maghera.

“I had never missed a payment in my life for anything and now I have missed two that they fined me for. My tax for the car never came out; I was fined for being on the road without tax, which I did not know.

“I get these fines because it’s their fault and they are still unable to provide justification. I missed payments for the personal training app I use.

“I’ve missed payments for equipment that wasn’t funded and I’m trying to explain to them; they ruin everything here.

“I had to find a new application, which took two, three weeks because I didn’t have a bank account. I lost clients because they didn’t want to wait three weeks for their trainer to come back to work .

“It was a real mess at the minute, but last week was the straw that broke the camel’s back. I was going to pay my electricity bill and I had no money to pay it through my professional account.

“How many other people does this happen to?” I am always at home; I’m only 27. My bills are car insurance, taxes, fixtures, rent, hydro, rates.

“If someone has a wife and kids, and a mortgage, that’s a serious thing they’re going to end up with. This must be stopped as soon as possible. »

Odhran said the situation and the resulting stress had taken a toll on his health.

“I just started a masters there in September and I’ve just been diagnosed with Crohn’s disease and it’s just stress after stress.

“More stress means my Crohn’s flare up, I don’t sleep at night, I don’t digest food properly and it’s all over the place by the minute.

“It’s like Ulster Bank just looked at a little person and said, ‘they’re not going to do anything, we’re going to erase it with another letter.

“I want them to be held accountable,” he added.

An Ulster Bank spokesman said he could not comment on individual cases but said regulation was a “matter of priority”.

“Like all regulated banking institutions in the UK, Ulster Bank is subject to legal and regulatory requirements, and we treat compliance as a priority.

“This may mean that Ulster Bank is required to delay or refuse to act on a customer’s instructions, and to suspend or restrict a customer’s accounts and services.

“The bank does not comment on the details of this case,” they added.

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Why open a business account with a bank? https://sarahlong.org/why-open-a-business-account-with-a-bank/ Wed, 02 Nov 2022 07:00:00 +0000 https://sarahlong.org/why-open-a-business-account-with-a-bank/ This article was written in collaboration with OCBC Business Banking. All opinions expressed in this article are the independent opinion of DollarsAndSense.sg based on our research. DollarsAndSense.sg is not responsible for any financial loss that may arise from any transaction and readers are encouraged to do their own due diligence. You can view our full […]]]>


This article was written in collaboration with OCBC Business Banking. All opinions expressed in this article are the independent opinion of DollarsAndSense.sg based on our research. DollarsAndSense.sg is not responsible for any financial loss that may arise from any transaction and readers are encouraged to do their own due diligence. You can view our full editorial policy here.

As a new business owner, you may have setbacks in running a successful startup. One of the main ones is that you are now responsible for all facets of the business rather than just being a good operator or managing part of a business.

Opening a business account is usually one of the first things you do, as you will use your account to collect revenue, pay employees and vendors, and for legal and accounting purposes.

There are different business accounts offered by banks. While a good business account is essential, you don’t want to incur unnecessary expense, especially since it will be an ongoing cost to your business. All other things being equal, try to limit fees and charges as much as possible.

In general, you should look at:

  • Minimum initial deposit – how much money you need to deposit in the account to be able to open your business bank account
  • Fall below fee – how much money you need to keep in your business bank account each month to avoid falling below fee (and how much that fall below fee is)
  • Monthly Service Fee – a monthly fee to keep your business bank account running
  • Transaction fees – how much you have to pay for local and overseas transfers
  • Other types of fees – such as early closing fees and overdraft fees

You might have the preconception that a business account usually requires a large initial deposit. However this is not always the case. For example, the OCBC Business Growth account only requires a minimum initial deposit of $1,000 to open. Plus, you only incur charges below $15 when your monthly average balance drops below $1,000. The OCBC Business Growth Account also charges a $10 monthly service fee (which is waived for the first two months). On top of that, you get the OCBC multi-currency account for free. You will be able to transact in up to 13 major currencies with no initial deposit and no lower fees. This is great if you need to make and receive payments from your suppliers or partners in foreign currencies.

The OCBC Business Growth account is also the only bank to offer free FAST and GIRO transactions at will. Another increasingly common feature that many businesses require is international money transfer. Typically, when companies send money overseas, it can lead to high and non-transparent costs, which the OCBC International Automated Clearing House (IACH) seeks to facilitate. With IACH, there is certainty in i) fees (flat fee of S$30 per transaction), ii) speed (2-3 business days) and iii) exact value of payment (beneficiary receives full amount ). You can make transfers abroad in nine major currencies.

While this sums up the OCBC Business Growth Account, each business bank account has slightly different fees and charges. To select an account that best suits your needs, you need to take a closer look at the nuances.

Besides zooming in on account fees and charges, here are 4 other things that will impact your bottom line.

#1 digital tools for your business

With the rise of fintech, a business bank account is no longer just a place to safeguard your business funds and to collect and make payments. Operating in the context of a local and global economy still affected by COVID-19, the subject of digital financial and banking tools has become more relevant than ever.

Most banks today are online and offer various digital tools beyond their internet or mobile banking services. The three local banks have integrated a host of digital tools to provide greater convenience and better equip businesses to digitize and grow.

For example, through the OCBC Velocity platform, business bank account holders can closely monitor their finances. They can use a free suite of business financial management tools to track their cash flow – such as recurring monthly payments, future debtors and payables, and more. – and use the information to forecast their future cash position. This can reveal periods of potential financial stress and allow companies to take action earlier to avoid such cash shortages.

Another issue for many businesses is billing. Many businesses spend countless hours issuing invoices to customers and processing payments. It can also involve messy paperwork and is prone to human error. This not only affects your invoicing procedures and efficiency, as it can lead to cash management issues for your business.

By adopting electronic invoicing, this can be smoothed out. InvoiceNow, a national e-invoicing network, helps businesses create invoices in a standard digital format, send them directly to customers on InvoiceNow, and process payment requests automatically. Some business bank accounts, such as those with access to OCBC Velocity, can also help you integrate InvoiceNow for free.

Some features can also be very bank-specific. For example, OCBC OneCollect is a contactless digital merchant solution offered by OCBC. It allows customer-facing businesses to collect payments made to them by their customers via PayNow or SGQR. This means you are notified when payment is made at the point of sale and receive payments instantly to your business account. Collection details are also conveniently broken down by collection points and, if you have more than one business, between your multiple businesses. For businesses wanting to use the service, there are no setup fees or subscription fees, and the only fees charged are a 0.25% transaction fee. In addition, customers can take advantage of the first 3 months waived for a new registration until December 31, 2021.

Read also : Guide to Payment Solutions You Should Offer Your Customers in Singapore

#2 Discounts on your business debit card

Opening a business bank account can also give you access to a debit card that you can use for business expenses. When you start and grow your business, you are likely to incur a substantial amount of business expenses that can be difficult to track. With an OCBC business debit card, which you can receive after opening a business bank account, accounting is simplified as your card transactions are debited directly from your business account and presented in one consolidated statement.

You also get other benefits such as a 0.5% cashback on foreign currency spending – the highest among the 3 local banks – and a 0.2% cashback on local currency spending with no minimum expenses. For businesses, this can be a cost-effective way to reduce business expenses.

#3 Access to free resources and advice for new business owners

Starting a new business can be daunting. You may spend a lot of time researching and talking with other business owners about licensing, hiring, accounting, and more. In some cases, your bank can appoint a Relationship Manager to advise you and put you in touch with the right specialists to guide your decisions.

When you open an account with OCBC, you get immediate access to a dedicated team of specialists to help you get started easily and efficiently. You also get a free business starter kit; a guide to help you avoid common pitfalls, get your books in order, and get it right the first time.

#4 Assurance that your funds are safe with a reputable bank

Banks in Singapore are highly regulated, and rightly so. None of us would want to open and hold funds with a bank that doesn’t have a great reputation.

If you’re opening a business bank account in Singapore, you’ll typically turn to one of three local banks, including OCBC. Indeed, almost everyone in Singapore is already familiar with local banks, as we use them for our personal banking. Since you already understand the service standards and interface, it might be a good idea to also open a business bank account with the same bank.

However, if you want to venture beyond local banks, there are currently 10 eligible full banks in Singapore that are licensed by the Monetary Authority of Singapore (MAS). You can also consider the network of banks and the global presence of the business you run.

For example, OCBC has a strong foothold in the Singapore market with its own unique characteristics that customers can leverage. Beyond local shores, OCBC is also well established in ASEAN and China. This makes them ideal for Singaporean businesses looking to expand into these regional markets.

Open a suitable business bank account

Every business will have its unique requirements in an appropriate business bank account. This is why you should evaluate the features offered by the various business bank accounts offered in the market.

A brand new e-commerce business may require very different functionality than an established F&B outlet. Nonetheless, the OCBC Business Bank Account is packed with useful tools that business owners in a variety of industries can leverage.

It’s not always about costs and digital tools. Ideally, you want to work with a bank that you can grow with. This means determining whether they have a footprint in the regions you operate in or expand into.

Those opening the OCBC Business Growth Account can be assured that you can open your business account fully online and instantly (for locally incorporated companies owned by up to two Singaporeans and PRs only), subject to approval by the bank.

Need financial support during this time?

Enjoy quick access to funds and instantly receive your loan approval status when you apply online with OCBC.

For SMEs that have only been in business for six months, get up to S$100,000 with the OCBC Business First loan. If your SME is over two years old, get up to S$500,000 with the OCBC Working Capital Loan, a government-subsidized loan that is good for financing operations or business expansion. Terms and conditions of application.

Join the DollarsAndSense business community

For more content that helps entrepreneurs, freelancers, and self-employed people learn how to build better businesses, join the DollarsAndSense business community on Facebook.


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Yuze – An all-in-one business account https://sarahlong.org/yuze-an-all-in-one-business-account/ Thu, 27 Oct 2022 10:17:00 +0000 https://sarahlong.org/yuze-an-all-in-one-business-account/ Right is founding CEO Rabih Sfeir and left is Chairman Dilmurod Urunov Most small business owners know that opening a business bank account isn’t one of the easiest things to do. DUBAI, UNITED ARAB EMIRATES, Oct. 27, 2022 /EINPresswire.com/ — Looking at market needs and the exponential growth of startups over the past two years, […]]]>

Right is founding CEO Rabih Sfeir and left is Chairman Dilmurod Urunov

Most small business owners know that opening a business bank account isn’t one of the easiest things to do.

DUBAI, UNITED ARAB EMIRATES, Oct. 27, 2022 /EINPresswire.com/ — Looking at market needs and the exponential growth of startups over the past two years, a new mobile app “Yuze” created by top professionals is here to help. make a difference and fill the gaps in the fintech market by offering professional financial solutions to SMEs.

The app offers business account products and features tailored to the business needs of these users, including the ability to send and receive payments, manage expenses, and track profits.

The exponential growth of startups in the UAE over the past two years has created a gap in the fintech market, says Yuze founder and CEO Rabih Sfeir; a void filled by the launch of Yuze and its professional financial solutions.

“We are proud to be pioneers in supporting the UAE Ministry of Labor, helping to launch the Wage Protection System in 2009 under the C3 Card Company, and promoting financial security and inclusion for blue-collar workers at the initiative of the UAE government,” Sfeir says. “At Yuze, we have created a user-friendly and easy-to-use application for the underbanked segment of the SME world, in response to market needs. We recognize that opening a bank account isn’t always the easiest for SMBs, therefore Yuze’s primary focus is to offer a cost-effective business solution that will help small businesses and startups meet most, if not all, of their financial business needs in one seamless app experience.

Yuze’s goal; – in line with the UAE government’s initiative to support SMEs and encourage freelancers and e-tailers, and research showing that financial inclusion is a key aspect of the success of small and medium-sized businesses; – is to facilitate the integration of these companies into the economy and enable them to play a role in the economy and contribute to its growth.

Dilmurod Uronov, President of Yuze Digital, said, “When fintech accesses the right technology to reach the masses and make finance widely accessible, the entire payment ecosystem thrives. Yuze is an agile and innovative mobile application that aims to foster financial inclusion by offering a digital product with an exceptional all-in-one customer experience.

While the app’s initial launch is in the United Arab Emirates, Yuze Digital intends to expand the rollout to other countries in the not-too-distant future.

About YUZE Digital
YUZE is a financial technology platform and not a bank. Yuze provides simple banking solutions for small businesses, e-tailers and freelancers to help them manage the financial side of their business efficiently and easily.

YUZE also aims to give back to the community by actively supporting start-ups and entrepreneurs, so they can take their first steps towards financial independence.

Contact:
Limited Digital Yuze
Rabih Sfeir
contact us@yuzedigital.com
Tel: +9714 2669247
www.yuzedigital.com

###
This press release is published by Arab Newswire (www.arabnewswire.com) – a newswire service for the Arab World, Middle East and North Africa (MENA), and it is distributed by EmailWire™ ( www.emailwire.com) – the global newswire service that provides press release distribution with guaranteed results™.

Rabih Sfeir
Limited Digital Yuze
+971 4 266 9247
write to us here

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Important things to do if your business account is terminated MyrtleBeachSC News https://sarahlong.org/important-things-to-do-if-your-business-account-is-terminated-myrtlebeachsc-news/ Tue, 18 Oct 2022 17:27:33 +0000 https://sarahlong.org/important-things-to-do-if-your-business-account-is-terminated-myrtlebeachsc-news/ If your business account is terminated, it can be a devastating experience. Suddenly all your hard work has been wiped out and you’re scrambling to figure out what to do next. Fortunately, there are a few things you can do to try to recover your account. This article covers some of the most important steps […]]]>

If your business account is terminated, it can be a devastating experience. Suddenly all your hard work has been wiped out and you’re scrambling to figure out what to do next. Fortunately, there are a few things you can do to try to recover your account. This article covers some of the most important steps you should take if your business account is terminated.

Get off the blacklist

This is the first step you need to consider if this unfortunate event happens to you. Do some research on how to get out of match lists so you can continue in your quest to restore your business account. You may need to meet certain conditions or criteria to be able to get out of the blacklist. But it is still possible and worthwhile if you want to be able to use your professional account again.

MATCH stands for Merchant Alert To Control High-Risk, which means that if you are a high-risk merchant and your account is terminated, you will be placed on the list. This is a database that other banks consult when considering whether or not to do business with you. Getting off the blacklist can be difficult, but it’s not impossible.

Stop incoming payments

Be sure to immediately stop any payments coming into your account if your business is terminated. This will help minimize any potential financial loss. Stopping incoming payments is easy to do and only takes a few minutes.

Simply go to your bank’s online portal and navigate to the “Stop payment” section. From there, you will be able to select the account from which you want to stop payments. Once you have selected the account, enter the payment amount you wish to stop. Finally, confirm your selection and submit the form.

Stop bill payments

You should also stop all bill payments associated with your business account. If you fail to do so, you may continue to be charged for the Services even after your account is terminated. To do this, log in to your account and go to the billing section. From there, you should be able to find the option to stop all payments. If you’re not sure how to do this, you can always contact your bank or the company that bills you for help.

Stopping billing payments is an important step to take when your business account is terminated. This will help ensure that you won’t be charged for services you no longer have access to.

Determine the reason for the termination

Various things can cause a corporate account to be terminated. Some of them are:

  • Not providing accurate information: This is one of the main reasons business accounts get terminated. Make sure all the information you provide is accurate to avoid this issue.
  • Violation of terms of use: Every social media platform has a set of terms and conditions that users must agree to. If you violate any of these terms, your account may be terminated.
  • Inactivity: If you don’t use your account for an extended period of time, some social media platforms will terminate it.
  • Spamming: Posting too much spammy content can also lead to account termination.

If your business account was terminated, determining the cause is the first step to restoring it. Once you know why your account was terminated, you can take the necessary steps to resolve the issue and reinstate your account.

File a complaint

Once you know why your business account was terminated, you can take steps to resolve the issue and then file a complaint with the company. This will help you restore your account and avoid future problems.

To file a complaint, you’ll need to gather all information about your account termination, including any correspondence you’ve had with the company. Be sure to include your account number, termination date, and reason given for termination. Once you have this information, you can contact the company’s customer service and file a complaint.

You should hire a good lawyer to help you with your business account reinstatement application. Your lawyer will help you fill out the appropriate paperwork and file it with the court. The lawyer will also represent you in court if necessary. If your business account was terminated due to illegal activity, your attorney can help clear your name and reinstate your account.

If you cannot afford a lawyer, many legal aid organizations can help you. These organizations provide free or low-cost legal services to people who cannot afford to hire a lawyer.

Business accounts are your livelihood, so you need to act as soon as they are terminated and get off the blacklist. Be sure to stop incoming and billing payments promptly. After that, you need to figure out what caused the termination and file a complaint. Finally, you should hire legal help and request that your account be reinstated. Good luck!

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Kuda Launches Business Account for Nigerian Entrepreneurs https://sarahlong.org/kuda-launches-business-account-for-nigerian-entrepreneurs/ Fri, 14 Oct 2022 10:16:00 +0000 https://sarahlong.org/kuda-launches-business-account-for-nigerian-entrepreneurs/ By Aduragbemi Omiyale Nigerian entrepreneurs, especially those in the Micro, Small and Medium Enterprise (MSME) sector, now have the option of operating a suitable bank account for their financial transactions. Indeed, Kuda Microfinance Bank has introduced an all-in-one business account called Kuda Business. This account package allows customers to easily send invoices and pay multiple […]]]>

By Aduragbemi Omiyale

Nigerian entrepreneurs, especially those in the Micro, Small and Medium Enterprise (MSME) sector, now have the option of operating a suitable bank account for their financial transactions.

Indeed, Kuda Microfinance Bank has introduced an all-in-one business account called Kuda Business. This account package allows customers to easily send invoices and pay multiple invoices to different individuals and legal entities without switching apps.

With this account, small business owners can easily send estimates to their clients and get paid in multiple ways. They could also make free and bulk transfers, pay business bills without switching to another app, and help manage business finances with a team of two or more.

At the product launch in Lagos on Monday, October 10, 2022, Kuda MFB’s Head of Banking Products and Partnerships, Mr. Nosa Oyegun, said that Kuda Business will give much-needed boost to freelancers and MSMEs.

“Kuda Business will help small business owners overcome some of their many challenges. It’s the answer to some of the most fundamental challenges freelancers and MSMEs face in running their businesses, particularly invoicing, making and receiving payments, and general management of their business outfits.

“Kuda Business is an all-in-one manager that allows customers to easily send invoices and pay multiple invoices to different individuals and entities without switching apps,” Oyegun revealed.

He listed other benefits like the ability to start as freelancers and get help registering businesses with the Corporate Affairs Commission (CAC) and the ability to use features (which will be available through the mobile app) that would enable businesses to receive payments.

He further noted that Kuda Business helps the business owner reduce costs and facilitate internal processes.

“We know that saving money is important for businesses, which is why customers of the platform get Kuda MFB’s standard 25 free monthly transfers to other banks with their Kuda Business account.

“Plus, to help entrepreneurs manage their finances, the Kuda Business account has a detailed dashboard that shows how money is coming and going with real-time updates so they’re never confused. about the company’s finances,” he said.

Outlining the steps that potential customers would follow to register on the platform, Mr. Oyegun said, “We have simplified the process of onboarding the platform, so that potential customers do not have to go through by a time-consuming or energy-intensive routine.

“Any entrepreneurs or freelancers who wish to take advantage of the Kuda Business functionality should do so; register at business.kuda.com, add money to their Kuda Business accounts, continue to use Kuda Business as a freelancers or upgrade to a full account and finally download the Kuda Business mobile app from their app store to manage their business account wherever they are.”

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Kuda Launches All-in-One Business Account to Support Nigerian Entrepreneurs https://sarahlong.org/kuda-launches-all-in-one-business-account-to-support-nigerian-entrepreneurs/ Mon, 10 Oct 2022 07:00:00 +0000 https://sarahlong.org/kuda-launches-all-in-one-business-account-to-support-nigerian-entrepreneurs/ FinTech company, Kuda Tech, said its new offering, “Kuda Business”, offered by its Nigerian subsidiary, Kuda MFB, will provide much-needed boost to freelancers and micro, small and medium-sized enterprises (MSME) entrepreneurs. The company made the claim when launching the product in Lagos on October 10, 2022. Kuda MFB’s Head of Banking Products and Partnerships Nosa […]]]>

FinTech company, Kuda Tech, said its new offering, “Kuda Business”, offered by its Nigerian subsidiary, Kuda MFB, will provide much-needed boost to freelancers and micro, small and medium-sized enterprises (MSME) entrepreneurs.

The company made the claim when launching the product in Lagos on October 10, 2022.

Kuda MFB’s Head of Banking Products and Partnerships Nosa Oyegun said, “Kuda Business will help small business owners overcome some of their many challenges.

“It’s the answer to some of the most fundamental challenges freelancers and MSMEs face in running their businesses, particularly in the areas of invoicing, making and receiving payments, and general management of their businesses. Kuda Business is an all-in-one manager that allows customers to send invoices, pay multiple invoices to different people and corporate entities easily without having to switch apps.”

He also listed some of the features that Kuda Business brings to include easy sending of estimates, ability to send invoices and get paid in multiple ways, make free transfers and bulk transfers, pay professional invoices without switching to another application and manage business finances with a team of two or more people.

According to him, others are the ability to start as self-employed and get help registering their business with the Corporate Affairs Commission (CAC) and the ability to use features (which will be available through the mobile app) that would allow businesses to receive payments. .

He further noted that Kuda Business helps the business owner reduce costs and facilitate internal processes.

“We know that saving money is important for businesses, that’s why customers of the platform enjoy the standard 25 free transfers from Kuda MFB to other banks every month with their Kuda Business account. In addition , to help entrepreneurs manage their finances, the Kuda Business account has a detailed dashboard that shows how money is coming and going with real-time updates so they never get confused about company finance.

“We’ve simplified the platform onboarding process so potential customers don’t have to go through a time-consuming or energy-intensive routine.

“Any entrepreneurs or freelancers who wish to take advantage of the Kuda Business functionality should do so; register at business.kuda.com, add money to their Kuda Business accounts, continue to use Kuda Business as a freelancers or upgrade to a full account and finally download the Kuda Business mobile app from their app store to manage their business account wherever they are,” he said.

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Want to change your Google Business account to a personal account? Try that . . . https://sarahlong.org/want-to-change-your-google-business-account-to-a-personal-account-try-that/ Sun, 21 Aug 2022 07:00:00 +0000 https://sarahlong.org/want-to-change-your-google-business-account-to-a-personal-account-try-that/ Laura Butler* Setting up your Google Business account is quite simple and there are plenty of pointers on how to do it. Once this has been set up, some people want to upgrade their professional account to a personal account. The Google Business Account involves setting up a Google Business Profile, including setting up your […]]]>

Laura Butler* Setting up your Google Business account is quite simple and there are plenty of pointers on how to do it.

Once this has been set up, some people want to upgrade their professional account to a personal account.

The Google Business Account involves setting up a Google Business Profile, including setting up your hours of operation, health and safety status, photos, and other information that will allow you to communicate with clients or customers.

The Google Business account was previously called Google My Business and is specifically designed to convert people using Google Maps or search into customers.

The focus is on converting these users of Google services into customers and customers from Google. Specifically, it focuses on converting people who are looking for clients or clients of a particular business (from accident repairs to lawyers) and creating a new source of business for your business or service business. professionals.

The business account provides your “business profile” (rather than a personal profile) and is therefore significantly different from a personal Google account in this respect, but it is an important way to grow your business SEO.

It allows you to display how your business will appear on Google Search, Google Maps and it will of course allow you to update the details of your products and services.

You can access your profile details from Maps or search by searching for “my business” as well as logging into your Google My Business website.

The main feature is that it allows you to raise your business profile online and complements your existing website.

Google My Business is a dashboard for your business and lets you see different types of information about how your business is found on Google. Google+ is a social network that allows you to connect more closely with your online visitors.

The Google My Business account is different from a personal Gmail account for example, but you can use your profile page to also use your Gmail email.

It is therefore a key business asset to lift your business name, your domain name (if they are different, which is often the case) and allow your email address details to be displayed online. e-mail address, your work phone number, type of business and other information. .

Google My Business will be an increasingly important part of Google services that will allow potential customers to connect with you across different devices and is a major benefit for small or large businesses.

Google goes out of its way to ensure that you use the free business listing provided through the Google Business account, going so far as to provide a Google Marketing Kit that allows you to promote your business and services.

Update your Google profile

You can update your business profile using Google Search and Google Maps after logging into your account and verifying your business.

For Maps, you need to tap on the profile picture in the top right corner and select “Your Business Profile” to see the tools you can use.

Google Maps has specific requirements for local business listings and a mailing address for the business is required, although you may not necessarily want to display an address on the Google Maps listing. Google wants to be certain of the existence of the business and with details of the area where the listing will appear.

For search, you search for your business by name or search for “my business” and then update your profile.

For example, you can customize email address you’re using (click on settings in the top corner and customize things like your email, theme, profile picture, and email signature.

Steps to move your Google Business account to personal or delete

You can follow different steps to manage a Google Business account that you want to make “personal”.

First, you can migrate the data to your new personal account.

But since it’s a “professional” account, you technically can’t turn it into a personal account for the obvious reason that you’re changing the account to something it’s not designed for.

However, keep in mind that a “business” can and often does involve a partnership, sole proprietor, and other entities. If you want to make the change from the business profile you have, you must edit your business profile and save each change you make.

Account details including account settings, work or personal emails you use and of course the work email address you have should be changed to reflect your desired gmail account.

Changes, like any business address or business profile changes, will need to be logged and may also need to be verified by Google.

If the change is rejected, there is not much you can do if you go from a professional activity to a personal one. But if you make changes to remove business details from the account, you may end up with what is effectively a personal Google “business account”.

These changes are similar to other changes or deletion of your account. Keep in mind that Google wants accurate information disclosed and the type of account you have should also be accurate.

Nevertheless, there are occasions when some seek to make significant changes to Google business accounts and the best you can do is seek to do so as accurately as possible, complying with Google’s free business profile information. . Otherwise, a new Google account is the best solution.

If you want to delete the account, you can do so by going to the business profile and selecting the three-dot menu, then selecting the business profile and the delete option.

Go to your Google My Business and open the location (if there is more than one) you want to edit. If you want to add a user to the account, you can then add the user by entering the name and email address.

If you want to transfer the Google Business account to another client, you need to make sure that you own it (rather than an SEO agency, etc.).

You can manage permissions in the Google Business account. If you are only a “manager”, you cannot modify the company information, while an “owner” can modify the company details and make these changes.

By making these changes, you can move your Google Business to another personal work account.

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First Internet Bank launches small business account https://sarahlong.org/first-internet-bank-launches-small-business-account/ Thu, 18 Aug 2022 16:12:13 +0000 https://sarahlong.org/first-internet-bank-launches-small-business-account/ Diving Brief: Indiana-based First Internet Bank of Fishers on Monday launched a checking account for small business owners, a product the digital banking pioneer says will give customers greater control over business finances and personal. First Internet’s Do More Business Chequing Account allows business owners to earn interest and conduct unlimited transactions. The account also […]]]>

Diving Brief:

  • Indiana-based First Internet Bank of Fishers on Monday launched a checking account for small business owners, a product the digital banking pioneer says will give customers greater control over business finances and personal.
  • First Internet’s Do More Business Chequing Account allows business owners to earn interest and conduct unlimited transactions. The account also allows small business owners to link their business and personal checking or savings accounts, credit cards, loans, and investments.
  • The $4.1 billion asset bank said the new account is the first release of its Do More Business platform aimed at helping small businesses simplify day-to-day operations and spur growth.

Overview of the dive:

“When you’re founded by an entrepreneur, you’re encouraged to think like a startup,” said Nicole Lorch, president and chief operating officer of First Internet Bank. “It gives us a unique perspective in delivering innovative solutions to meet the needs of small businesses.”

First Internet, the first digital-only institution insured by the Federal Deposit Insurance Corp. (FDIC), aims to provide small business owners with insight into their finances by breaking down spending trends by category. The account also offers a budgeting tool and transfers.

“Now, more than ever, entrepreneurs need to effectively track all of their finances — business and personal — to save time and money,” Lorch said. “Do More Business Checking allows small business owners to focus on managing their operations with a clear idea of ​​their overall financial situation.”

First Internet’s new account creates a one-stop shop for small business owners, many of whom turn to third-party vendors for various business-related tasks, according to research by Cornerstone Advisors.

Small business owners spent more than $500 billion on accounting, invoicing, bill paying and accepting payments from third-party vendors in 2020, the consulting firm found.

According to the report, about four in 10 small businesses with revenues over $5 million said they would “definitely” consider a bank for their accounting, invoicing, bill paying and payment acceptance services. . This represents a $370 billion market opportunity for banks, Cornerstone said.

A number of fintechs have been launched with the mission of filling the banking gap for small businesses. The industry, however, has seen fluctuations in how fintechs have structured their business models around serving the segment.

Brex Corporate Spend Management Firm announced in June he made the “difficult decision” to stop serving traditional small business clients so he could focus on venture capital-backed startups.

Azlo, a neobank that offered small businesses a subscription banking service and a subsidiary of BBVA USA, was the victim of the decision of the Spanish lender to sell its retail arm in the United States to Pittsburgh-based PNC for $11.6 billion in 2020.

Azlo’s shutdown sent a wave of former users to small business banking platform Novo, prompting the neobank to launch new features including billing and budgeting, Novo CEO Michael Rangel said. . says Banking Dive in March 2021.

Bluevine, another fintech targeting the small business market, offers checking accounts and lines of credit to small business owners. Bluevine launched in 2013 with an invoice factoring product, a feature it sold to FundThrough in January, according to protocol.

As fintechs continue to find ways to tap into the small business market, traditional banks need to be aware of the financial needs of entrepreneurs, wrote Ron Shevlin, director of research at Cornerstone Advisors. Forbes.

“Banks must integrate into the day-to-day operations of small businesses to achieve the speed and agility needed to compete with new competitors,” Shevlin wrote.

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PayNearby will waive business account opening fees for women entrepreneurs https://sarahlong.org/paynearby-will-waive-business-account-opening-fees-for-women-entrepreneurs/ Fri, 12 Aug 2022 10:45:08 +0000 https://sarahlong.org/paynearby-will-waive-business-account-opening-fees-for-women-entrepreneurs/ Fintech start-up PayNearby has launched a “zero investment plan” for female last-mile entrepreneurs, on more than 20,000 PIN codes in the country. As part of this initiative, the company will waive business account opening fees in a bid to help rural women move closer to financial independence. The company currently charges Rs 1,000 as the […]]]>

Fintech start-up PayNearby has launched a “zero investment plan” for female last-mile entrepreneurs, on more than 20,000 PIN codes in the country. As part of this initiative, the company will waive business account opening fees in a bid to help rural women move closer to financial independence. The company currently charges Rs 1,000 as the cost of the corporate account for the purpose of creating and maintaining an account.

According to the company, this is an extension of its Independence Day campaign, Pragati Mahotsav, which celebrates the contribution of its business partners. He also added that he aims to onboard more than 10 lakh female entrepreneurs by FY24.

“This is part of a series of initiatives the company will be rolling out over the coming months to create a more empowered society. Very soon, PayNearby aims to partner with leading banks across the country and launch savings accounts and current bank accounts at a nearby store for SMEs and last-mile customers.This will ensure that every household in the country, including its women, will have easy access to opening and managing a bank account, which is crucial to last-mile financial well-being. The company is on a mission to double down on its commitment to creating a more inclusive and empowered nation,” PayNearby said in a statement.

“A country progresses when its women become equal participants in progress. While the pathways to women’s empowerment are many, one of the most important enablers is financial empowerment. It is important that women have access to digital and financial tools that allow them to better control their income and savings. With women as partners, this will ensure seamless delivery of accessible banking services to all sections of society while improving their social status,” said Anand Kumar Bajaj, Founder, Managing Director and CEO of PayNearby.

Jayatri Dasgupta, Chief Marketing Officer, said, “In India, nearly 48% of the rural population is female. However, due to societal construction and low literacy rates, they have little or no access to any form of financial services or employment. Today, only 27% of women in India are employed, of which only 13% are those running small businesses. For India to progress, women must come forward and participate. In such a scenario, the importance of financial and digital literacy for women at the last mile becomes very important.”

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Why switching business accounts can get you a better deal https://sarahlong.org/why-switching-business-accounts-can-get-you-a-better-deal/ Thu, 11 Aug 2022 16:24:24 +0000 https://sarahlong.org/why-switching-business-accounts-can-get-you-a-better-deal/ Research shows that most companies don’t bother to switch business bank accounts: two-thirds haven’t done so in the last six years. But moving might get you a better deal. Possible benefits include improved customer service, access to additional – often free – facilities, and potential cost savings, especially as a growing number of digital banks […]]]>

Research shows that most companies don’t bother to switch business bank accounts: two-thirds haven’t done so in the last six years. But moving might get you a better deal. Possible benefits include improved customer service, access to additional – often free – facilities, and potential cost savings, especially as a growing number of digital banks increase competition in the industry. Additionally, many small businesses are eligible to take advantage of the Checking Account Switch Service, an initiative aimed at persuading more consumers to shop for a checking account.

Businesses with fewer than 50 employees and an annual turnover of less than £6.5 million benefit from the scheme, which requires banks to manage changes in less than seven working days. It must also minimize disruptions faced by customers, for example by ensuring that errant payments end up in the correct account.

The bank account you choose will depend on your business needs. An online price comparison service can be informative, but there is no single answer to the question of who provides the best business accounts. For some companies, the priority will be to find lower overdraft rates; others may be more focused on good currency exchange services or perks like free accounting software, which is now widely available.

Service is paramount

You can also identify specialty accounts. Some business bank accounts are aimed at large corporations, but there are also products specifically designed for the self-employed and self-employed as sole traders. Furthermore, customer service, a crucial point of competitive differentiation, is difficult to objectively measure on a price comparison. The fact that an account has an above-market interest rate on credit balances, or ultra-low fees, can be little compensation if the bank cannot respond to your routine inquiries by timely – or worse, if she makes mistakes. For this reason, the Competition and Markets Authority (CMA), the regulator, now funds regular customer satisfaction surveys of banks in both the retail and business account markets. . Its most recent research, published in February, crowned app-based Starling Bank, Handelsbanken and Metro Bank as the best business bank account providers in terms of overall service quality.

Two big banks, Santander and Barclays, make the top five, but lag far behind. Starling Bank also scores highly with experts when it comes to account features. Its offer of free banking services and the availability of multi-currency accounts seem particularly attractive. The downside is that Starling does not offer overdraft facilities or business loans.

It’s also a potential deal breaker for Monzo, another digital new entrant in business banking, which is also winning accolades for its products. He has two different accounts, Monzo Lite and Monzo Pro. The former is free while the latter costs £5 per month, but comes with free access to the Xero cloud-based small business accounting service for six months.

In fact, few digital banks – including Revolut, Tide and Monese – offer overdraft facilities, so if that’s important to your business, you’ll have to look elsewhere. Co-op Bank, Metro Bank and Santander all charge competitive interest rates on overdraft borrowings, although no bank guarantees that they will extend credit to your business. And prices may vary depending on the specific circumstances of your business.

Store your extra cash wisely

Finally, an issue that small businesses often overlook when choosing bank accounts is the interest they can earn on excess funds. If your business has cash on hand — buffer funds or cash for future investments, for example — simply putting it in your business bank account likely means it earns little or no interest. Instead, look for a decent business savings account, especially now that interest rates are rising. You don’t have to save with the same organization you use for your banking.

According to financial analyst Moneyfacts, the most generous business savings account currently pays 1.5% interest per year. Recognize Bank offers this rate; Aldermore Bank pays 1.25%. These are easy to access rates. However, if you are willing to lock in your money for an agreed period, you can earn more.

The Union Bank of India is paying 3.3% per annum on its two-year bond, for example. However, remember that with these accounts you will generally lose some or all of the interest if you withdraw early, and there is also the risk of missing out on better rates elsewhere as interest rates continue. to increase.

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