Small Business. Services

Transcription

1 Small Business Services

2 Contents 1 Small Business Services and what we can do for you Bank and transact 6 Small Business Services Current Account 7 Card offerings 9 Digital banking 13 Global trade 14 Letters of guarantee Finance your business 16 Overdraft 16 Term loans business banking loans 17 Vehicle finance 18 Plant and machinery finance 20 Home loans 23 Property finance Invest and protect 26 Investments 32 Financial planning for your business 34 Insurance 35 Bank on our service promise 36 The A to Z of Nedbanking E (06/07) Ltd Reg No 1951/000009/06 Nedbank is an authorised financial services provider. This information replaces any information in previously distributed brochures that may still be in circulation.

3 Small Business Services and what we can do for you Talk to us about your business Tell us more about your plans and aspirations for your small business, and allow us to introduce our range of customised small-business solutions. If you have an annual turnover of between R and R5 million and employ under 25 people, than you can enjoy all the advantages offered by Nedbank Small Business Services. We are particularly well-placed to service the unique needs of the following: Small-sized franchises Startups Small professional entities Traditional small businesses (manufacturing and service-related businesses) Plan your business s growth and success with us We understand that, when you trust us with your financial needs, you re entrusting us with your dreams. For this reason we strive to work hand in hand with you to build not only a firm financial base from which to operate, but to acquire the additional skills that will boost your business success. Nedbank Small Business Services promises the following: 1

4 A relationship management offering to suit your needs; A specialist unit to deal specifically with the needs of small-sized franchises and startup businesses; Competitive pricing and the highest calibre products and services, tailored to the specific needs of small businesses; Financing solutions structured according to your individual circumstances and needs. We shall work closely with you to review your current financial status and find ways in which Nedbank s banking solutions can be optimised to suit your specific needs. A differentiated credit-lending model, which has been established to cater for the diverse needs of the small-business market. Value-added services helping your business to go from strength to strength. These include: - Free business management seminars; - Non-financial assistance in the form of coaching and mentoring programmes through our strategic partners; and Service efficiency and excellence, rewarding you not only with what we do, but with how we do it. Build a platform from which to grow your business Nedbank Small Business Services financial and nonfinancial programmes enable you to achieve far greater levels of success than you could in isolation. We extend these value-added services to the small business entrepreneur through our association with our strategic partners, which include: 2

5 Financial assistance in association with Khula Enterprise Finance Ltd Finance can be made possible through our association with Khula Enterprise Finance Ltd which assists businesses that generally do not qualify for loans due to a lack of or inadequate collateral. Access to finance can be improved through the following: the Standard Scheme, offering funds to finance fixed assets or working capital; the Emergent Entrepreneur Scheme, facilitating the startup of a business; and the Empowerment Scheme, financing empowerment transactions. Non-financial assistance through our association with business partners and Sizanani Advisory Services Through our association with the above partners we: give you access to the business expertise, skills and wisdom of a range of mentors; and work with you in developing your business, taking into account the industry within which you operate, the life stage of your business and the specific needs or problems you may be facing. Consult Nedbank Small Business Services To maximise the potential of your small business visit a Nedbank branch or log on to 3

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7 Bank and transact

8 At Nedbank we pride ourselves in finding innovative ways to help to ensure that your time, energy and focus stay on the business of doing business while we focus on the business of banking. That s why we ve designed a comprehensive range of trade and transactional products as well as digital channels that make it easy, quick and convenient to access your account and to take care of your personal and business banking needs. Small Business Services Current Account Our current account lies at the heart of Nedbank s banking service. It will provide your business with a complete banking solution and is your gateway to all our other products and services. It is designed to cater for all your money management and transactional needs. This effective banking tool allows you to: deposit and withdraw money 24 hours a day countrywide using your Nedbank ATM Card or a Nedbank Cheque Card at any Nedbank ATM; pay accounts via - stop or debit orders against your current account, and - digital banking channels, ie internet banking, telephone banking and selfservice banking; 6

9 apply for a linked Nedbank Garage Card, which can be used for purchases of fuel, vehicle spares and repairs; keep track of your transactions; and utilise an overdraft - the simplest way to borrow additional working capital. Card offerings Cheque Card Once you qualify for a current account, you may apply for a Nedbank Cheque Card and enjoy: the security of never needing to carry cash; immediate access to your current account; the freedom of a payment mechanism that allows you to purchase goods at millions of outlets locally or internationally 24 hours a day; the facility of having transactions reflected on your current account statement; free travel insurance, provided travel tickets are purchased with your Nedbank Cheque Card; and the option of earning Nedbank Greenbacks when you link your card to the Nedbank Greenbacks programme. Garage Card With a Nedbank Garage Card you can pay for all vehicle-related expenses, such as fuel, oil, vehicle maintenance and accessories as well as tollfees, without having to carry cash. You can link your Nedbank garage card to a current account and/or to a business card account. 7

10 Business Credit Card A Nedbank Business Credit Card offers you the freedom and security of being able to transact or purchase without carrying cash, combined with the flexibility of having instant access to credit. This card is intended for sole proprietorships, close corporations, smaller (Proprietary) Limited companies, trusts and non-profit organisations, and is available in classic or gold options based on the credit limit required per card. NedFleet Card This is a convenient card-based management system that allows you to control fleet expenses, providing information in terms of the following: current month tax year life to date VAT input credits financial year vehicle resale history Procurement Card The Nedbank Procurement Card plays a crucial role in reducing costs and rogue expenditure by providing you with an impressive array of fiscal and expenditure controls. Savings are attained through reducing procurement overheads and reengineering the business process. State-of-the-art cardholder and company VAT and MIS reports are generated in browser-based HTML format for review, with the delivery tailored to your requirements. 8

11 Backoffice integration of data into client ERP systems is available, as well as worldclass web-based expense management tools. Tip: A Nedbank Procurement Card is the ideal way of equipping staff to deal with unplanned offsite expenditure in a controlled manner. Another benefit is that it allows companies to purchase and reconcile business expenses electronically. Digital banking In a fast-paced, competitive environment it is essential to have instant, convenient access to your account round the clock. That s where Nedbank s range of digital banking channels comes in, allowing you to conduct a wide range of banking activities wherever you are, whenever you choose. Thanks to the high level of security made possible by the necessity for PIN and profile identification, you can perform a range of activities in a totally secure digital environment. Tip: When making payments through digital channels, you can effect payments instantly, allowing you to enjoy savings in terms of time and transaction fees. NetBank internet banking NetBank is a full-service internet banking facility that allows you to do your banking with complete security from the comfort and safety of your home or office. An additional security measure is a client-selected password and SMS authentication. 9

12 Once registered for internet banking, you can do the following online: balance enquiries; statement enquiries; transfers between personal accounts; payments to third-party beneficiaries; viewing of cheque and deposit slip images; ordering of chequebooks; account maintenance, and once-off payments. Small Business Services Telephone Banking For telephone banking with a personal touch you may select this specialised transactional and information service. Simply call from 07:30 to 18:00 Monday to Friday and from 07:30 to 13:00 on Saturdays for the following: direct transactional or general enquiries; balance enquiries; ordering of chequebooks; transferring of funds, and cancelling of debit or stop orders. PhoneBank: Self-service PhoneBank: Self-service is a digital banking channel that makes banking possible, from any place on the globe at any time, via an interactive voice response (IVR) service, using your landline or cellphone. Using the service is as easy as calling our ShareCall number and following the straightforward voice prompts. Tip: When calling on a landline or from abroad, dial 0860NEDTEL or

13 PhoneBank: Agent-assisted Agent-assisted is another telephone banking service the main difference being that you speak to an actual person and is available during extended operating hours to perform your banking transactions. Functionality includes payments, transfers, balances and statements on all accounts. Please call for more information. Self-service terminals Self-service terminals are located at most Nedbank branches, allowing you easy access to your Nedbank current, savings or credit card account and to perform a variety of non-cash transactions. NedInForm NedInform is your gateway to more streamlined administration and greater security in your company s financial transactions. It permits controlled access to your accounts, allowing you to carry out virtually all your company s financial transactions electronically. Besides the great amount of flexibility, control, security and convenience, NedInform also provides the following choices: Basic module With the basic module you can, in a totally secure environment: request up-to-date bank account statements, balances and ministatements; search for statement information according to statement numbers, transaction amounts, dates, etc; 11

14 use the messaging facility, which entails sending and receiving messages to and from a Nedbank branch and other NedInform users; stop cheques; and request stop orders. Electronic funds transfer module This module offers the following features: The secure, convenient transfer of funds to and from accounts. Intracompany and third-party payments. Salary and wage payments. Importation from various salary, wage and creditor packages. Prenominated accounts for transfers, with a line number enquiry facility. Reusable batch facility. Move and restore facility. Branch code enquiry facility. Transaction limit enquiry facility. Unlimited number of beneficiaries. Collection facility. Unpaids facility. Line number enquiry facility. The blocking of line numbers. The release of line numbers. Statement downloads module This module will allow you to: download all of the available statements; and print, view, sort or export the statement information. 12

15 Global trade When it comes to crossborder trade, we provide an integrated solution focused on managing the associated risks and maximising your returns, handling far more than just crossborder payments. Services are delivered through our branch network, and we focus on the following key areas, which are all integrated within the broader concept of foreign currency cash management: Payments and settlement including outward and inward payments, foreign currency drafts, foreign currency cheque collections, the issuing of travellers cheques and the provision of foreign banknotes. Trade mechanisms including documentary credits, documentary collections and guarantees. Liquidity management our simplified account-opening procedures allow you to open client foreign currency accounts. Foreign exchange instruments we offer highquality, comprehensive service through spot cover, forward exchange contracts and derivative instruments. In addition, we offer advanced transactional processing capabilities, professional advisory and consultancy services and access to specialists able to deal with your queries. Call our Global Trade client helpdesk on or us at or visit our website at 13

16 Letters of guarantee Bank guarantees, which are used in trade to guarantee payment to one of the parties involved, are available to you on application and are subject to approval by our credit division. 14

17 Finance your business

18 Whether you need capital to finance a business venture, working capital to expand your business or the finance to acquire vehicles, plant and machinery or property, Nedbank Small Business Services has the right solution to meet your business needs. Overdraft An overdraft offers the easiest way to access additional working capital whenever you need it. Linked to your current account, your overdraft facility allows you to access additional funds should your business require it. Speak to your banker about putting your overdraft facility in place. Tip: In the event of death, disability or retrenchment overdraft assurance provides you or your family with a means to meet and settle your overdraft repayments. Term loans business banking loans A term loan allows you the freedom of financing either equipment or working capital over a specified period. When granting a term loan, we lend money directly to you, which can be repaid over a period convenient to you or your business. 16

19 Vehicle finance Nedbank Vehicle Finance offers a cost-effective way to finance vehicles from company cars and delivery vans to a fleet of vehicles. Custom-designed packages ensure that you remain in full control of your account at all times, while also offering you a choice of financing your vehicle by means of an instalment sale, a financial lease or financial rental. Vehicle finance options Instalment sale The most common way of financing a vehicle is a simple instalment sale, an option that allows you to pay instalments over an agreed period. Financial lease A financial lease allows you to use financed assets for an agreed period. It is effective in lowering your monthly repayments because it incorporates a balloon payment or allows for a residual, payable at the end of the finance period. Financial rental Financial rental is similar to a financial lease in that it is structured with a balloon payment or residual value. Financial rental is used to finance a car when usage, and not ownership, is a priority, and it has the additional benefit of rental payments and operating costs being tax-deductible. Tip: Whether you use your vehicle for private or business purposes, Nedbank will find, finance, license, insure and even deliver your new vehicle. 17

20 Plant and machinery finance As your business needs grow and change, so do your financial needs. At Nedbank we understand this, which is why we have designed a range of finance options flexible enough to suit your specific requirements when buying plant and machinery for your business. The following table explains the difference between an instalment sale, a financial lease and financial rental. Type of finance Instalment sale What happens on termination of the contract? Ownership of the asset passes automatically to the client. Financial lease The asset can be returned to bank, purchased, or sold to a third party. A rental agreement may be entered into. Financial rental The asset can be returned to bank, purchased, or sold to a third party. A secondary rental agreement may be entered into. 18

21 Tip: Ask us about options that will allow you to settle early without penalty fees. VAT implications Are costs tax-deductible? VAT is capitalised upfront, which means there is no outstanding VAT on termination of the agreement. Wear and tear allowances are tax-deductible. VAT is capitalised upfront, which means there is no outstanding VAT on termination of the agreement. You may recoup rentals if you choose to take ownership of the asset on termination. VAT is calculated on and is payable with each rental payment. Rental payments and operating costs are tax-deductible. 19

22 Home loans Since we understand that, as a business owner, your personal and professional needs often overlap, we also offer a range of home loan options to small business clients, providing you with advice and finance when acquiring fixed property of your own. Your home loan can be used to purchase an established residential property freehold or sectional title including second homes, to purchase vacant residential land or to construct a new residential property. As with all our personalised solutions, we shall assist you in negotiating a home loan at the best rate and advise you on mix-and-match options to suit your circumstances now and in the future, both as regards home loan solutions and additional linked options. 20

23 Home loan solutions The normal monthly instalment With this repayment option you pay the normal monthly instalment, comprising capital redemption and interest calculated in terms of your home loan agreement as well as the applicable insurance premium(s). In this way your interest-rate-related payments will fluctuate, and you ll pay off your home loan within the agreed repayment period, or earlier if you choose to increase your monthly instalments or make a lump-sum deposit. The fixed-rate home loan Regardless of interest rate fluctuations, this option maintains your interest-rate-related repayments at the same rate for a period of up to 12 months. Once the fixed-rate period has expired, you will be able to negotiate a new rate with Nedbank. Additional linked options In addition to the standard home loan solutions detailed above, there are several additional options that can be linked to your home loan, making it easier and more effective to manage. 21

24 The NedRevolve option This facility allows you to deposit additional funds, over and above your agreed monthly repayment, into your home loan account. You can withdraw these surplus funds simply by transferring them electronically to your current or savings account, and then accessing the money via your Nedbank ATM card, 24 hours a day. The facility is automatically included in all new Nedbank home loans. Houseowner's Insurance (HOC) and Loan Protection Assurance (LPA) HOC covers you in the event of damage to the property resulting from fire, water damage, etc. The indispensable cover protects your investment and gives you peace of mind, and is therefore mandatory for the granting of a home loan. LPA is usually an optional, albeit extremely valuable, additional option that gives your family the security of knowing that your home will be paid off in the event of your death or disability. Tip: If you are a homeowner, you can expand and improve your home by using Nedbank s readvance or further loan with registration options. 22

25 Property finance Property finance is different from home loans in the sense that the use of the property is exclusively for business purposes. The ideal product for financing property is NedBond, a medium- to long-term loan that allows for the purchase of commercial and industrial property occupied by your company. 23

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27 Invest and protect

28 At Nedbank we understand that it s far simpler to manage the majority of your business financial needs through a single avenue, rather than through several individual sources. This is why we also offer an integrated range of investment, business management and insurance options to small businesses, working with you to build a firm financial platform that will give your business more stability and security, both now and in the future. Investments N-5000 Investment Cheque Account The N-5000 Investment Cheque Account is an interest-earning cheque account with all the features of a standard cheque account with the exception that overdraft facilities are not offered. If you require full access to your funds, and interest on credit balances, then the N-5000 I nvestment Cheque Account is the right choice for you. Tip: Returns on the N-5000 Investment Cheque Account may be compounded. Interest is calculated daily and capitalised monthly. 26

29 Money Market Investment Account This multitiered investment account is designed for clients who want good interest rates with liquidity, accessibility and full transactional functionality. The interest that you earn is dependent on the balance in your account, with more interest earned the higher the balance in the account. The Money Market Investment Account can be opened in the name of individuals, trusts and non-profit organisations only. Apart from the high rates, a garage card and debit card may be linked to the account. Electronic payments to third parties can also be made through the internet and other electronic channels. Fixed deposits Nedbank fixed deposits allow you to invest a sum of money for a fixed period at a fixed rate. Interest may be paid out monthly or on maturity, and capital is secure for the term of the investment. In addition to the standard fixed deposits, Nedbank also offers the unique N630 and N1230 Investment Accounts, 6- and 12-month fixed deposits respectively, with the additional benefit of allowing access to 30% of the original capital during the term of the investment. To open a fixed-deposit account you require a minimum investment that you are willing to invest for at least one month. Both businesses and individuals qualify for the benefits of a fixeddeposit account. 27

30 Notice deposits NedTerm One of the most competitive and convenient notice deposit options is NedTerm. With NedTerm you enjoy competitive interest rates that are tiered to reward higher investment balances. All investments are fixed for an initial period of 32 days, after which funds may be held indefinitely and withdrawn at any time with only 24 hours notice. Another benefit is that the interest earned is protected for 32 days after a cut in prime rates while, when rates increase, you receive the benefit immediately. Tip: If you want to earn good interest on your savings, but don t want to commit to an extended savings period, then NedTerm is the perfect choice. Call accounts A call account, which is offered by Nedbank Treasury, is the ideal investment to manage short-term cash flows, as it allows you to access funds on demand. Tip: A call account acts as a buffer against cash flow problems. 28

31 Savings accounts A savings account is the ideal option for investing funds in a secure account that will allow you to earn market-related interest rates and give you immediate access to your money. With your savings account you can make payments and access your money conveniently and instantly via NetBank internet banking, PhoneBank: Self-service or PhoneBank: Agent-assisted. NedMobile cellphone banking, NedInform business digital banking, automated teller machines (ATMs) and self-service terminals (SSTs). 29

32 For your convenience the following tables compare a variety of investment options. Product Interest structure N-5000 Investment Variable interest Cheque Account calculated daily on balances greater than R Money Market Rates are tiered: Investment Account <R (0%) R R R R R R R Fixed deposits Fixed interest paid monthly, quarterly, half-yearly, annually or on maturity. Notice deposits Call account Savings account Rates are tiered: <R1 000 (0%) R1 000 R4 999 R5 000 R R R R Interest is calculated daily and capitalised and compounded monthly. Variable interest determined by market conditions. The higher your balance, the more interest earned. 30

33 Access to funds Investment requirements Funds easily accessible through a variety of channels. Funds fully accessible. Access to interest depending on option selected. Minimum balance of R Certain fees and charges are waived for balances above R Minimum investment of R Most fees and charges are waived for balances above R and debit transactions over R500. Minimum investment of R for standard fixed deposits and R5 000 for N630 and N1230 Investment Accounts. After an initial Minimum 32-day fixed period, investment of R funds may be Additional deposits of at withdrawn at any least R100 each are allowed. time after 24 hours notice. Funds may be accessed on demand. Immediate access to cleared funds via ATMs, internet banking or debit and stop orders. Minimum investment of R Savings Deposit Account: minimum age of 19 years; gross monthly salary of R Optimum Savings Account: minimum age of 55 years; minimum balance of R in a fixedor notice deposit account. NedSave: minimum balance of R10; must be younger than 18. Young Adult Savings Account: minimum balance of R30; must be students between 19 and 25 years of age. 31

34 Financial planning for your business As a financially astute business person, you know that sound financial planning is crucial to the longterm success of your business. So do we, which is why Nedbank has a specialised team of financial planners available to advise and assist you in the creation of an effective financial plan for you and your business. Nedbank s financial planners have the skills to help you set specific business goals and allocate the resources to achieve them. They will work with you to establish which areas of your business require attention, taking into consideration your current and anticipated financial situation. They will then establish a dynamic, effective financial blueprint that will cover the following: Business continuity planning ensuring that your business is protected in the event of the death or disability of a shareholder or member. Business contingency planning insuring your company against losses arising from the death or disability of staff with specialist skills, and covering your personal estate for financial obligations and suretyship in the event of your death. 32

35 Pension and provident fund management aiding in the creation of retirement benefits for staff, thereby enabling your company to attract staff with specialist skills. Medical schemes advising you how to structure your company s medical benefits. Staff retention and remuneration drawing up incentive-based remuneration schemes to attract and retain staff with specialist skills. Your business is just as unique as you are, and your financial plan will be designed around the specific needs of your business and your personal vision for the future. In addition, because a business is never static, your financial planner will be happy to review your plan as often as you require (annually may be best) and update it as needed. Your plan will thus keep up with the needs of your business as they change. Visit one of our financial planners today and lay the foundation for a more secure, more prosperous future for your business... and yourself. Tip: Ask your financial planner to review and update your plan regularly to ensure it keeps pace with the changing needs of your business. 33

36 Insurance Homeowner s cover and loan protection These insurance options provide you with greater personal security, covering your house against loss or damage and providing your family with the assurance that your home will be paid off in the event of your death or disability. Tip: Loan protection assurance may be used to cover the lives of key people within your business, providing invaluable protection and security, and ensuring that you don t lose your business in the case of the death or disability of a key person. Comprehensive motor insurance Whether you use your vehicle for private or business purposes, Nedbank Motor Insurance offers you a range of affordable, flexible insurance options. NedExcel With a focus on convenience, NedExcel is a superior motor vehicle and household insurance policy designed to offer cover for all your valued possessions, as well as for personal liability. 34

37 Please remember that certain qualifying criteria apply to the products detailed in this brochure. Certain financial documents may be required when processing applications for products detailed in this brochure. For more information on Nedbank Small Business Services visit our website at Bank on our service promise We promise to: treat you as an individual; treat you with respect at all times; acknowledge your requirements and take them seriously; and continually strive for service excellence. If you feel that we have or have not lived up to this promise, please let us know by telling the manager at your branch or suite, ing us at or calling us on

38 The A to Z of Nedbanking The A to Z of Nedbanking is a reflection of Nedbank s philosophy of the values, principles and attributes that we believe should be fundamental in everything we do. We have made a commitment to uphold those values and principles in all our dealings and the services and products we provide, and to strengthen our relationship with you by treating your personal banking needs with empathy and professionalism. 36 We subscribe to the Code of Banking Practice of The Banking Association South Africa and, for unresolved disputes, support resolution through the Ombudsman for Banking Services. We are an authorised financial services provider. We are a registered credit provider in terms of the National Credit Act (NCR Reg No NCRCP16).

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40 Ltd Reg No 1951/000009/06