Businesses need to ensure customers' money in holding accounts is earning good interest - 21 November 2005

Monday, 21 November 2005

Real estate agents, accountants and other businesses were reminded today to ensure their deposit holding trust accounts are earning high rates of interest.

By providing trust accounts that earn high rates of interest, businesses are providing their own customers with another benefit, says the National Australia Bank (NAB).

"Trust accounts that earn a good rate of interest on the monies on deposit becomes an additional selling point for their own business," said Darren Jones, senior sales support manager of Business and Private Banking at NAB.

Bruce Munro, chief operating officer of Business and Private Banking at NAB, said: "Generating high interest from deposits in trust accounts is good business practice. That is why we have developed National Business Cash Maximiser, which allows trust account holders as well as business owners and managers, to make the most of their customers'  cash.

"National Business Cash Maximiser is an easy to use deposit account free of monthly service fees. It is part of our strategy to provide our business partners and customers with value adding products and services that help them do their business better."

Interest in deposit holding trust accounts are earned on behalf of customers.

Important Information
Any advice contained in this article has been prepared without taking into account objectives, financial situation or needs. Before acting on any advice in this article, National Australia Bank Ltd recommends that you consider whether it is appropriate for your circumstances.  The National recommends you consider the Product Disclosure Statement  available from the National, before making any decisions regarding National Business Cash Maximiser. This product is issued by National Australia Bank Ltd ABN 12 004 044 937.  For further information call 13 10 12 for Business Accounts.

About NAB Business and Private Banking
The National Australia Bank employs over 5,650 business banking specialists and 450 financial planners and specialists at over 158 business banking centres Australia wide.  It is one of the market leaders in providing business banking services to Australian business. For further information visit  /wps/wcm/connect/nab/nab/home/Business_Solutions?contentIDR=ffd678804b81dd679f3dffa8d9bf8e41?ncID=ZBA.

For further media information, please contact:
NAB Australia Corporate Affairs
Guy McKanna
Tel:    (02) 9237 9817
Mob:  0402 893 843

* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges