For the smallest businesses, banks have a published
tariff. But for most concerns the charges are negotiated individually.
This means you have little idea whether you are getting a good deal.
Our experience suggests that over 80% of businesses
are paying too much in transaction charges – sometimes 100% too
much!
What bank charges does your business pay? Some
businesses don't even know. The charges can dribble in, in bits
and pieces. Sometimes they can mount up significantly. Whatever
you pay there is at least an 80% chance that your business is being
overcharged – eating into your profits and reducing your ability
to invest & build for the future
Merchant services costs
Banks also charge for processing credit card and
debit card transactions. From our experience it is very clear that
they will charge what the market will bear - that is, what you are
prepared to pay. How much does it cost you every year to accept Mastercard
and Visa transactions?
This is where we come in. We
can tell you whether you are getting a good deal, and if not, what
you should do about it. We have Publicly Quoted Companies among our
clients. Most businesses using this service have an annual turnover
of £5m or more, though much smaller concerns can also benefit. Please
feel free to ask. We save money for businesses in these areas.
Bank transaction charges
Processing of credit and debit cards - merchant
card fees
Transport of cash and cheques
Guaranteeing of cheques not covered by cheque
cards
International banking transactions, including
payments for imports and exports.
Businesses pay for our services by simply
passing on to us a proportion of the bank charges savings which
we achieve for them. If there are no savings, we charge no fee.
This service can therefore be regarded as a "health check" on a
contingency fee basis. You need not worry that in pressing your
bank to reduce your charges you will injure your business relationship
with the bank. We find that, through strong but reasonable bargaining,
relationships are strengthened. As our consultants were all previously
senior bank managers they are all able to guide you in the best
way to approach each stage, and indeed we are well qualified to
undertake direct negotiation for you.
Additionally,for large companies,
or public bodies such
as local authorities, wishing to put
their banking business out to tender, we can offer in depth experience
in the entire range of bank transaction charges, and provide expertise
in areas from assessment of pricing, through drawing up tender documentation,
to negotiation of successfully reduced terms.
