“I have a good business but the bank does not fully understand our requirements to successfully run and grow our business. Aren't all banks the same?”
It is essential you have a “principal bank,” and particularly a banker who you can work with in a constructive business relationship, a relationship of mutual trust and above all of mutual respect. Banks demand your respect and your loyalty too, but often it is all one way. If you don’t enjoy such a mutual relationship you need to understand why. Sometimes it is not always the bank’s fault. BankChoice can help you understand and work through the issues with your current business banking relationship. However, if your relationship is fractured beyond rescue the good news is there are banks and particularly personal bankers out there who want your business. The trick is finding the right one and that’s where BankChoice comes in.
“Should I be concerned that all our dealings are with one bank”
Having a strong relationship with one bank can be a very rewarding experience provided your bank has a thorough understanding of what you do and provides banking facilities that match your needs. However, since the Global Financial Crises, many businesses have suffocated from having all their financial arrangements with one bank when lending conditions have been tightened. In many cases, the relationship between customer and banker has deteriorated. There could be many reasons for this but usually the bank not having a clear understanding of the business is often a major contributing cause. There are many options available in regard to the assessment of your real business needs and Bank Choice can help
“Is it true that changing banks is a nightmare”
After dealing with the one bank for a lengthy period, you may think that making alternative arrangements is “just too hard”. This need not be the case. From a total change of your business banking relationship to diversifying your banking exposure, Bank Choice will personally step you through a process to minimise what can be a minefield. This may be a lot easier and less stressful than you think.
“How do I know I have the appropriate business banking deal?”
“The Big Four” dominate the Australian Banking Industry however they are all anxious to attract good new business banking opportunities, as indeed are smaller players. BankChoice, with contacts in a wide range of Australian based banks, can source the banking options that are most appropriate for your business banking needs.