Thought For The Week

WHEN starting in business, find the right bank. Shop around. Look at which offers the best services and rates for you. Stay with a bank where you might have held a long-standing personal relationship. The better the bank knows you, the more they can help.


  • Mary Hull

    I find that the banks are not helpful at all regardless of the relationship I have had with them.I went to apply for a loan recently and while all the money from my salary did not go through the account, I had been with the bank for 30 years.Now, it's just a process, it's not about people. Whereas some time ago I might have known the manager and he would have lent to me, now it is a computer lending by a set of criteria. Miss one of those milestones along the way, such as all your salary not going through one account, or at least the one you want the loan on, then you have had it. To add insult to injury, even if you have a £30,000 figure sitting in another account with that bank, they won't lend if the figures don't stack up regardless of other accounts you have. It is a strict black and white policy. You either win, or you lose. The relationship with the banlk means nothing. It's ludicrous.

  • Mark Hammer

    I tend to agree with Mary. There really isn't the opportunity to have a relationship with a bank these days. It's you, and a computer. That's about it and even if you used to have close links with a manger all the power is now gone from the branches and none of the lending is done from anywhere other than a central lending centre. They have no idea who you are or what you have done in the past. It's all about numbers. Mary is right.

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