With a few smart choices, you can simplify your finances, save time, and focus on what really matters—growing your business.

Here’s a rundown of the essential banking tools every small business should consider, plus how they can help set you up for success.

1. Business debit cards: Streamline your everyday expenses

A business debit card is a must-have for any small business owner. It keeps your personal and business expenses separate, making it easier to manage your finances. Plus, it’s perfect for everyday transactions like purchasing supplies, covering travel expenses, or paying vendors.

By using a business debit card, you can also track spending in real-time and simplify your bookkeeping. This means less time chasing receipts and more time focusing on your business. And with a dedicated business account like Coastline Bank’s Business Access Account, you can get easy access to funds while enjoying benefits like free BPAY transactions and online banking.

2. Merchant facilities: Give customers more ways to pay

Today’s customers expect flexibility when it comes to payments. Offering a variety of payment options can not only increase your sales but also enhance customer satisfaction. That’s where merchant facilities come into play.

One powerful solution is Tyro’s integrated EFTPOS system, which helps you serve more customers and boost productivity. Tyro offers a seamless card payment acceptance solution that integrates directly with your business systems. This eliminates double entries, reduces re-keying errors, and makes reconciliation a breeze - helping you focus on your customers rather than admin work.

With Tyro’s EFTPOS terminals, you also get the added advantage of built-in 3G backup and dual ‘live-live’ data centres, ensuring reliable, uninterrupted service. Plus, Tyro’s systems are NBN ready, making the transition smooth and future-proof. Whether you’re running a café, a retail store, or providing professional services, Tyro can streamline your back office and improve your bottom line.

3. Online banking: Manage your finances from anywhere

Gone are the days when you had to visit the bank to handle your business finances. With online banking, you can manage your accounts, pay bills, transfer funds, and even check your cash flow—all from the convenience of your phone or computer.

This is a lifesaver for busy entrepreneurs who are always on the go. Coastline Bank’s Business Access Account, for example, comes with free Internet Banking. This means you can handle your business transactions anytime, anywhere, making it easier to stay on top of your finances.

4. Accounting software: Keep your books in order

Tracking income, expenses, and cash flow can be a challenge, but it’s crucial for the health of your business. That’s where cloud-based accounting software like Xero comes in. Xero simplifies accounting by giving you access to real-time financial data from anywhere.

With Xero, you can create and send professional invoices, manage payroll, and keep track of your bills and expenses - all in one place. It also integrates seamlessly with your bank accounts, automatically importing transactions to make reconciliation easier. And with mobile apps, you can handle your business finances on the go, from sending invoices to capturing receipts.

5. Payroll solutions: Pay your team with ease

Managing payroll doesn’t have to be a headache. Integrated payroll solutions, like those offered by MYOB, simplify the entire process - from calculating wages and taxes to paying superannuation. These systems help you automate payroll, reducing the risk of errors and ensuring compliance with regulations.

MYOB’s solutions are designed to grow with your business, offering everything from payroll and tax management to customer relationship management (CRM) and point-of-sale systems. With over 50 tailored products and services, MYOB can meet the diverse needs of businesses in Australia and New Zealand.

6. Mobile payment solutions: Accept payments anytime, anywhere

If you’re a business that operates on the go - like a market stall, food truck, or mobile service - mobile payment solutions are a must. Products like the Square Reader let you accept chip and contactless cards, as well as Apple Pay and Google Pay, from virtually anywhere.

Square’s devices are easy to set up and connect wirelessly, allowing you to accept payments quickly and get funds deposited into your account fast. This flexibility not only makes it easier for your customers to pay but also helps you get paid sooner, which is great for cash flow.

7. Integrated banking and accounting: Boost efficiency and cash flow

Lastly, consider banking tools that integrate directly with your accounting software. This can save you time and reduce errors by automatically syncing your transactions and financial data. Tyro’s business Smart Account, for instance, offers integration with popular accounting platforms like Xero and MYOB, streamlining your processes and giving you easier access to working capital.

By integrating your banking, payment processing, and accounting, you can spend less time on admin and more time focusing on growing your business.

The bottom line

Investing in the right banking tools is one of the smartest moves you can make as a small business owner. Whether you’re just starting out or looking to scale your business, Coastline Bank offers a range of solutions designed to support you every step of the way.

Ready to take your business to the next level? Reach out to us today and discover how our Business Access Account and other services can help you succeed.