Do you bank directly with your bank? You could be missing out.
By Ryan Fallon – 4th June 2021
When starting your new business there is a plethora of things you need to consider – where do I go for utilities? How do I set up a website? Who should I get my card machines with? The latter question might appear to the easiest to answer; simply ask your business bank.
But is the simplest solution necessarily the best?
You might think that your bank is looking out for you. Afterall, if your bank has safeguarded your personal finances, you’d think they would do the same for your business. This is not always the case. Many banks outsource their merchant services to third parties. This is known as “white-labelling”. The banks brand is attached to a third-party processor. You aren’t working with your bank, rather you are working with another organisation. The other organisation does not know you in the same way that your business bank does.
At Bespoke Merchant Solutions, however, you are assigned a personal Account Manager. Your Personal Account Manager is someone who knows you and your business. They build a tailored package for you. This package is different for all our clients. Afterall, your business is different to the sweet shop next door and the butcher’s opposite.
Our contact with your business does not start and end with you signing your contract. We keep close to our businesses to make sure that they have no issues with our systems. In fact, after I finish publishing this blog, I am calling a client to ask about how she is experiencing her new PAXA920 card machine.
A further problems of going directly with your bank is the issue of rates. After being on hold with your bank for what seems like eternity, they’ll present you with a “wonderful deal”. They promise your business the sun and the stars. And after all that hassle, it would be wrong of you to hum and har, Right? Not only that, but you need to have a card machine immediately, You need to serve your customers NOW. So of course, you say yes.
The immediacy of your agreement shows another flaw of going directly with your bank. There is only so much an independent business owner can do. They do not have the advantage of time. Especially when time’s arrow keeps ticking. Due to time constraints independent business owners simply cannot get the best deal.
Bespoke Merchant Solutions can help you overcome the pressure of time. Because we work independently of our four partner banks, we can ensure that you get the best rates. All the while, you can serve your customers and get back to doing what you do best – running your business.
If you have gone directly with your bank, and believe it’s time for a change, then why not get in touch with us? We will review your current contract – free of charge – and make sure you’re on the best rates. It really is a bespoke package. And who knows, you might be pleasantly surprised. We are 35% more competitive, and that is because we have four different banks to choose from. On top of that, our packages are tailored towards you.
What do you think – Will you go direct with your bank?
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