Quote:
|
Originally Posted by rowan
Do epass business accounts let you withdraw funds via cheque?
|
Business accounts do allow for withdrawl via wire, however, the cost of the wire probably outweighs the benefits of your interest bearing accounts unless you are talking about a lot of money. Most business account holders do not withdraw money from their accounts, instead they wire money in and use the account to do things like pay out resellers. There are no load fees via wire transfer (except the wire fee) so in the grand scheme of things they save a lot of money this way.
Quote:
There are a number of reasons that cash in my bank account and using bank issued credit cards is a better idea:
- My savings account earns 6.77% p/a interest.
- The majority of my Visa purchases are at AU merchants, which means that the USD->AUD exchange rate losses accumulate with each epass transaction. With AU issued cards there is no conversion loss.
|
You would need to look at the numbers as see what makes sense for you, but unfortunately (in your case, anyway) ePassporte doesn't have any banking relationships in the AU system. I don't know of any way around the exchange rates.
Quote:
|
- My bank issued credit card has 55 interest free days so I never pay any interest.
|
That's an excellent deal. Remember too, since ePassporte is a pre-paid card you're not paying any interest either. Use your ePassporte Visa for purchases and if the exchange rate isn't too bad you may still come out ahead.
Quote:
|
- My bank issued credit card has a rewards program, with points redeemable for products or gift vouchers.
|
I agree that's an incentive, but ePassporte doesn't solve everything yet. It has its place just as other financial instruments do.
Quote:
BlueQuartz thinks I'm bashing, but I am just pointing out why a cheque option would be nice. 
|
I realize Blue Quartz is a big fan of ePassporte. He can be a bit over zealous sometimes but its easy to see he's a believer in the product.
If it's any consolation, *I* don't think your bashing.
I'm always open to finding a solution where I can. I agree with your points. But I also think there are ways to make ePassporte work for you without needing to move money out of the account. Unless, like I said, we are talking about substantial amounts of cash.
Feel free to contact me personally if there's anything I can do to help you get something done.