How can I protect my business against risk?
Everything we do in our lives involves risk
Being in business is one of the biggest. As a business owner, you know these risks, understand them, and go with them for the rewards they bring. However, with a little planning and some insurance, most of these risks can be minimised.
If you’re concerned about cheques bouncing, Certegy Cheque Warranty can give you a complete on the spot guarantee on almost all forms of cheque payment. This is an optional feature available only on our EFTPOS Extra i5100.
How can I establish credit terms?
It’s important to work out the right credit terms for your customers, if you’re sure they are reliable. We can help you reduce the risk of extending credit to new or existing customers, with our credit check reports service.
Once you have established terms, rather than waiting to receive payments from credit sales, you can turn up to 80% of the value of approved invoices into working capital in under 24 hours by using our Invoice Finance.
Exchange rate fluctuations?
To help protect you from exchange rate changes, we offer a number of ways to handle foreign currency transactions and to help you manage foreign exchange risk exposures.
You can open a foreign currency account in a foreign currency that can be used to protect against exchange rate fluctuations.
Bank and country risk?
We can help you manage the credit risks associated with dealing in foreign countries and overseas banks. Export Documentary Letter of Credit allows you to convert overseas bank and country risks into domestic risk against Westpac, giving you greater protection from non-payment and helping you better manage your cash flow.