Business People Club

Search All Topics !

How to Choose a Bank That is Right For You and Your Business?

0 like 0 dislike
156 views
Posted by GreedyPig
How to Choose a Bank That is Right For You and Your Business?

Your comment

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

1 Comment

0 like 0 dislike
commented by nicejone

Your success in getting a Bank to support a request for finance you may need does depend upon you choosing the right Bank in the first place. Even if you don’t initially intend to borrow any money, you should keep this possibility in mind when you are researching the market for the right Bank. With competition increasing you can get some good deals if you are prepared to shop around. Also, don’t pass over the Banks which offer only telephone or Internet Banking for small businesses. If you operate a very small and simple business then an Internet only Bank account may be right for you. So where should you look and what criteria should you use when searching for a Bank for your small business? 

Your Existing Bank If the Bank where you have your personal account offers business banking facilities then this may be a good place to start. You already know their level of service (good or bad!), the layout of the branch and perhaps some of the staff if you are lucky! This can make the whole process of opening a new account much easier. But don’t open your business account at the same Bank just because it will be less hassle. You must still ensure that the services which go with the business account are what you are looking for and at the right cost. 

A New Bank Even if you have a good relationship with the Bank that has your personal account, don’t discount the opportunity of looking around. One reason to consider opening your business account at a different Bank is that of total separation between the two aspects of your life – your business and personal life. Consider whether you want one institution to have complete control of your business and personal finances. If you do go through a sticky patch in the business, would you feel comfortable with the Bank seeing what you have sitting on your savings account? 

Location If you have no preference for a particular Bank then location of your Branch may be more of a priority, especially if you will be paying in a lot of cash where a bank just around the corner would be very useful. Some businesses have very simple needs when it comes to banking. If you don’t handle cash or large volumes of cheques and are happy banking over the telephone or Internet then location is obviously less of an issue! But be mindful that the lack of a ‘real person’ to talk to could be a frustration when you have a major problem to sort out. 

Go Hunting If you have no particular Bank in mind, or you are only interested in getting the very best deal, visit as many as you can so you can make an informed choice. Ask to speak to the Manager and tell them you are interested in opening a Business account and that you are looking for information. The good ones will spend time with you, offer you brochures, talk you through the process and the leaflets and tell you about their range of services. How you are treated at this early stage will give you a good idea of how you are likely to be treated later on. Now is the chance for you to get to know about what services and benefits they can offer your business. Ask questions such as, • Do they offer on-line banking or telephone banking? • Will you have a named point of contact? Or will you be put through to the dreaded Call Centre? • At what point will you be able to apply for borrowing facilities and what are the standard terms? • Do they provide help and support? • What are the charges to operate the account? • If you decide to open an account with them, what information such as ID or application forms will they need from you to open the account? • Do they offer an opening incentive such as 12 to 18 months free banking? 

Could You Do Business With Them? Once you have done all your research take some time to assess all the information you have gathered. Which Bank offered you the best deal? Which Bank is the most convenient? Which Bank offered the services or products most suitable to your circumstances? I have not mentioned probably the most important aspect for many business people – the person who is going to be looking after you; your point of contact to sort out the things that will go wrong! Ask yourself whether you could get along with him or her. A good relationship with your Banker is vitally important. 

And Your Decision Is? So, based on all your findings, which Bank stands out head and shoulders above the rest? Which one did you feel most comfortable with? Make an informed decision based on all the information you have gathered and then move on to the next stage which is actually opening your account.

Related posts

0 like 0 dislike
0 comments 132 views
Avoiding the Scams: How to Find a Business Opportunity That is Right for You

It is heartbreaking to me that so many women with big dreams get knocked down by ruthless business opportunists who take ... a business opportunity that will be both fulfilling and profitable.

Posted by Finderpros
0 like 0 dislike
1 Comment 164 views
How to Choose A Name For Your Company That Makes Sense ?

How to Choose A Name For Your Company That Makes Sense ?

Posted by SilkPredator
0 like 0 dislike
0 comments 138 views
Five Steps to Create a Budget for your Small Business

How I hate budgets! Every time an accountant told me to put together a budget for my company, my response was - When ... Have systems in place to increase revenue and decrease expenses as necessary.

Posted by UncleRhino
0 like 0 dislike
0 comments 174 views
The Right Financing For Your Business

One of the biggest challenges for business owners in the USA and in Canada is finding and securing the right type of financing ... , be sure to consider invoice factoring as your financial solution.

image
Posted by Tomatoad
0 like 0 dislike
1 Comment 302 views
How to Find Hidden Money for Your Business Through Revenue Recovery?

How to Find Hidden Money for Your Business Through Revenue Recovery?

Posted by UncleRhino
0 like 0 dislike
1 Comment 145 views
How To Reduce Tax Burden For Your Small Business?

How To Reduce Tax Burden For Your Small Business?

Posted by Herogue
0 like 0 dislike
1 Comment 167 views
How to Choose a Credit Card Processing Company?

How to Choose a Credit Card Processing Company?

Posted by ForceSoldier
0 like 0 dislike
0 comments 131 views
How A Loan Can Help You Fix Up Your House?

How A Loan Can Help You Fix Up Your House?

Posted by HarmlessRose
0 like 0 dislike
1 Comment 257 views
How to Choose A Domain Name That Floods Traffic To Your Website?

How to Choose A Domain Name That Floods Traffic To Your Website?

Posted by Madept
0 like 0 dislike
1 Comment 120 views
How to Choose A Domain Name That Floods Traffic To Your Website?

How to Choose A Domain Name That Floods Traffic To Your Website?

Posted by SwiftHeroine
0 like 0 dislike
0 comments 156 views
10 Ways To Reduce Tax Burden For Your Small Business

An ideal lawyer will not just have a string of impressive credentials or gold lettering on his door. He or she will ... accounting professional as to which accounting system would be most suitable.

image
Posted by HairyFoal
0 like 0 dislike
1 Comment 177 views
How Your Home Business Can Get Fortune 500 Clients... That Pay You A Fortune?

How Your Home Business Can Get Fortune 500 Clients... That Pay You A Fortune?

Posted by FatKomodoDragon
0 like 0 dislike
1 Comment 192 views
How To Get Approved For A Student Credit Card?

How To Get Approved For A Student Credit Card?

Posted by FoolishJaguar
0 like 0 dislike
1 Comment 176 views
How to apply for a car loan?

How to apply for a car loan?

Posted by KeyboardPie
0 like 0 dislike
0 comments 143 views
How To Apply For Business Loans?

How To Apply For Business Loans?

Posted by Conjursa
0 like 0 dislike
1 Comment 167 views
How To Choose A Shopping Cart Vendor For Your E-Commerce Site?

How To Choose A Shopping Cart Vendor For Your E-Commerce Site?

Posted by Cheatah
0 like 0 dislike
1 Comment 176 views
How Do I Choose A Lender?

How Do I Choose A Lender?

Posted by MammothMoth
0 like 0 dislike
0 comments 147 views
Why Is Invoice Factoring Financing Better Than A Business Loan

Are you looking for a business loan? Many business owners who need financing start their financing search by looking for a business ... and you need financing, be sure to consider invoice factoring.

image
Posted by FlamboyantChomper
0 like 0 dislike
0 comments 202 views
Businesses Need Money To Grow. Is Venture Capital Right For You?

The goal of every business is to be successful in their efforts and continue to grow. However, they often come to a crossroads where ... but not nearly to the same extreme as in the United States.

Posted by Monkeyno
0 like 0 dislike
1 Comment 147 views
How To Choose The Right Small Business Billing Software?

How To Choose The Right Small Business Billing Software?

Posted by BeautifulWolf
0 like 0 dislike
1 Comment 167 views
How to choose a corporate gift that hits the spot?

How to choose a corporate gift that hits the spot?

Posted by MammothMoth
0 like 0 dislike
1 Comment 135 views
What to look for in a credit repair company online?

What to look for in a credit repair company online?

Posted by Madept
0 like 0 dislike
1 Comment 286 views
How to Build a Retail Store that is Made to Last?

How to Build a Retail Store that is Made to Last?

Posted by Butcherry
0 like 0 dislike
1 Comment 234 views
How to attract big investors for Small Cap Companies ?

How to attract big investors for Small Cap Companies ?

Posted by DreamBaby
0 like 0 dislike
1 Comment 180 views
Is Venture Capital Right For You?

Is Venture Capital Right For You?

Posted by FoolishJaguar
0 like 0 dislike
0 comments 110 views
How to create A Trade Show Budget?

How to create A Trade Show Budget?

Posted by Falconjurer
0 like 0 dislike
1 Comment 193 views
How To Safeguard Your Financial Life?

How To Safeguard Your Financial Life?

Posted by KeyboardPie
0 like 0 dislike
1 Comment 218 views
How To Cut Your Household Expenses?

How To Cut Your Household Expenses?

Posted by SwiftHeroine
0 like 0 dislike
1 Comment 152 views
How to Increase Your Credit Card Limit?

How to Increase Your Credit Card Limit?

Posted by Amigod
0 like 0 dislike
1 Comment 135 views
How to repair your credit?

How to repair your credit?

Posted by VirtualAssassin
0 like 0 dislike
0 comments 103 views
How to improve your credit score?

How to improve your credit score?

Posted by SwiftHeroine
0 like 0 dislike
1 Comment 199 views
How to cut your property taxes?

How to cut your property taxes?

Posted by Knighttime
0 like 0 dislike
1 Comment 155 views
How To Make Sure Your Financial Budget Will Succeed?

How To Make Sure Your Financial Budget Will Succeed?

Posted by SleepyFledgling
0 like 0 dislike
1 Comment 874 views
How To Save Money On Your Home Heating Bills?

How To Save Money On Your Home Heating Bills?

Posted by SwiftHeroine
0 like 0 dislike
1 Comment 151 views
How to Rebuild Your Credit after Bankruptcy?

How to Rebuild Your Credit after Bankruptcy?

Posted by FatKomodoDragon
0 like 0 dislike
1 Comment 165 views
How To Finance Your Government Contracts?

How To Finance Your Government Contracts?

Posted by HairyFoal
0 like 0 dislike
1 Comment 223 views
How to save money as small business owner?

How to save money as small business owner?

Posted by AmazingKitty
0 like 0 dislike
1 Comment 193 views
How to get business grants?

How to get business grants?

Posted by Conjursa
0 like 0 dislike
1 Comment 197 views
How To Finance My Small Business?

How To Finance My Small Business?

Posted by Amigod
0 like 0 dislike
0 comments 127 views
Incorporation Is It Right For My Business?

For anyone starting up his or her own business, an understanding of business incorporation is must. While there are both ... informed decision about whether incorporation is right for your business.

Posted by HairySeahorse
0 like 0 dislike
1 Comment 158 views
How to choose a reliable Business Broker?

How to choose a reliable Business Broker?

Posted by HarmlessRose
0 like 0 dislike
1 Comment 256 views
How to find an Inventory Software Solution that Fits Your Business Needs?

How to find an Inventory Software Solution that Fits Your Business Needs?

Posted by Madept
0 like 0 dislike
0 comments 125 views
6 Tips For Saving Money On Your Next Computer Purchase

Buying a Computer does not need to be a budget breaker. A Computer purchase often includes additional components and software ... buying, will keep the salesman commissions from emptying your wallet!

Posted by SnailMail
0 like 0 dislike
0 comments 203 views
How To Advertise And Build Brand-Name For A Product Online

According to the research of authors Al Ries & Laura Ries, there are 22 immutable laws of branding to build a product into world- ... don't you try to speech-up your business by online advertising?

image
Posted by HuggingDuck
0 like 0 dislike
0 comments 127 views
Cost-Reducing Tips for the Small-Business Owner

One of the keys to running a successful small business or home office is learning to control costs. Even the smallest expenses can ... a postage meter or get a mail scale to eliminate overpaying.

Posted by HuggingDuck

online business.png

Connect with us:
...