St.George Business Visa Debit card explained

The recent addition of a Business Visa Debit card to St.George’s product range now brings them in line with other big banks such as ANZ, Westpac and The Commonwealth Bank, who also offer business Visa and MasterCard debit cards. There are many advantages of these cards over traditional forms of payment such as credit cards, cash, or traditional debit cards.

What’s the difference?

As opposed to non-Visa debit cards, the new St.George Business Visa Debit card can be used to purchase items online and over the phone, in the same way a credit card would be used, only you are using your business’s money instead of using credit.

Advantages

The card has many advantages over credit cards as now you can use the business’s own money instead of using credit. This means no more interest charges, or accidental overspends. You can set spending limits on the cards, which means you can control how much money will be spent, making it a lot easier to stick to a budget. This feature in addition to the other advantages of credit cards, such as the ease of use online and over the phone, means that the St.George Business Visa Debit card combines the functionality of a credit card with the control of using a debit card, to create a great new option for businesses.

Apart from the obvious advantages of using a card vs. using cash, the new St.George Visa Debit card also has contactless payment technology. This means that you can quickly and easily pay for any purchases under $100 by simply holding your card up to a contactless card reader. No more pins or signatures required. This feature can be used in addition to the usual methods, such as swiping or inserting your card, which means you can still get cash out when purchasing items or buy using ATM’s.

The Business Visa Debit card also allows you to choose which account you’d like to use, as St.George offers you the option of linking two different accounts to the card. You can easily choose which account to draw from when you use the card by selecting between the Cheque, Savings or Credit options.

Fees & Charges

There are no additional fees or charges to hold the St.George Visa Business Debit card, or on transactions using the card in Australia. However, if you lose the card there is a small replacement fee. There is also a fee of $5 if you withdraw cash overseas. While there are no fees to use your card to purchase items overseas, if the currency is not AUD, you will be charged a 3% foreign currency conversion fee, of the transaction amount.

How to get one?

A St.George Visa Debit card can be linked to any of the following St.George business accounts:

  • Freedom Business Account – Apply here
  • Business Cheque Account Plus – Apply here
  • Business Maximizer Account (with overdraft)
  • Commercial Line of Credit

If you are a new business customer you can apply using those options as well as applying online by clicking on the relevant account above. If you are an existing account holder, apply for a card by going into your local St.George branch or calling 133 800.

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