Posted on 14 May, 2014 in Banking, Small Business, Tips

Is your Bank Manager working for you?

No matter who you bank with, it is in your best interest to maintain a strong relationship with your Bank Manager. In times of triumph these team mates can help you work your money. In times of need they can help you get out of the shit.

Your Bank manager needs to understand how your business works and the how changing tides impact your business’s cash flow. Bank managers have a number of paddles at their disposal to help you keep your business floating during the good and bad times.

When was the last time you had a review with your Bank Manager?

Bank products seem to change every 5 minutes with new account types and special deals. By having regular reviews, your bank manager will be able to help you take advantage of the best rates available and may even be able to shuffle things around to reduce your bank fees. The bank is still a great place to get free specialist advice.

In my experience, the bank manager has always had the small business owner’s best interest at heart. In fact being an ex “bankie” myself, there was no greater satisfaction then being able to improve a customer’s overall position by re working a few things.

So the message is, “don’t be hatin’ the bank manager” use them to your advantage, and get them working for you.