BankWest helps firms switch banks

Around 20 to 25 per cent of business customers want to change their bank but only 6 per cent actually do change, says JP Morgan. That's why BankWest has launched a new high-interest business transaction account without maintenance fees and will send a bank representative to the business to help it change banks. The new BankWest account offers 5.25 per cent interest for accounts with balances above $100,000 and 4.75 per cent on accounts with balances over $20,000.