Which additional bank account would you guys suggest for my freelance and consultation work (sole trader for the moment), I already have commbank for job and personal things.
Mainly it's just to make things easier and keep track of abn/acn tax returns in future.
Better if it's more accessible globally and has some rewards or etc.
How would WISE be useful - it costs at least $1 for every domestic bank transfer
The OP has not indicated that they are working for foreign clients or receiving money in other currencies, they only said the account should be "accessible globally" which is unclear, but all Aus accounts can be accessed from anywhere (some may require an Aus phone number that can receive sms)
Since you're already with CBA.
https://www.commbank.com.au/business/bank-accounts/business-…
Exactly this and then I have a card linked to the account and use that for anything I want to put through the business.
Do you suggest I should stick to CBA, I already have their current account. NAB seems a good option
May as well and just have new bank accounts. Issue to manage and no need for multiple apps, verifications etc.
Macquarie bank everyday account with an additional saver account attached to it. The saver account gives you I think about 4% interest with no conditions, no minimum deposits or anything like that. Transfer between CBA and Macquarie is instant.
are you doing your own bookkeeping?
NAB has their app for bookkeeping for sole traders and self employed businesses.
Yes, for the moment I use excel but that will be a plus
Join WISE and get AU BSB & account numbers. (don't forget to use OB referral link)