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Ever wondered if your bank is really looking after you?

words by Finlease

Not happy with your bank, or just wanting to check if they are still looking after you as well as they should? It takes little effort and minimal time

HOW? Just ask 2 or 3 of the other banks to pitch for your business. They will do all of the work, not charge you and put their best foot forward. Once you have the results, compare the best to what you already have and then either change or let your existing bank know what they need to do to keep your business – just a simple matter of using “market forces” to distil the best outcome. One word of warning, any account manager who verbally promises anything, probably won’t be at that branch in 3 years to honour their commitment, so make sure it is all in the agreement. We call it the “prenup” and when things ever go off the rails, this is the document that comes out so it needs to be right!

Finally beware of covenants around trading profits as a percentage of turnover and debt ratios requirements that trigger substantial increases in “bank margins”. If they are not met, it is a license for a bank to increase rates on you at their discretion. This has always fascinated us as it essentially allows a bank to increase your interest costs at a time when you are not trading so well and the last thing you need at that time is increased overheads!!

All of the above is simple to do, however if you don’t have the time, let us give you a hand, we do this regularly for many clients. Unlike the big banks, we take the time to visit you, understand your situation and assist you in selecting the right financing solution. If you are not satisfied with our solution, simply walk away with no cost. We are delighted to seek approvals as over 85% of them are taken up by clients!


Don’t just take our word for it though, visit product review at and see what our clients have to say about us!

To speak to one of our financial experts call 1800 358 658 now!

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