Selecting A Bank?

[jonson]

How did people go about choosing a bank for their business? My plan was to just check out the banks in my neighborhood and see which one offers the best rates, but I was sure if that was the best strategy.

[tomylee1]

you can check interest rate and mortgage loan and installment payment.
to choose the bank.

[lockyer]

sitdown with the manager and see if you get on, a good relationship with your bank manager is wiorth more than the interest in this climate

[Paul Norman]

The assumption above is that you need funding, in which case you will find rates quite punitive just now.

But whether or not you need funding, the advice by Lockyer above is absolutely spot on. You need continuity of support from your bank, and a good relationship is worth having.

[lockyer]

I meant on loans and deposits i.e most banks are fairly poor on both at the moment, its the service and assistance from the BM where the added value is.

[Paul Norman]

Originally Posted by lockyer

I meant on loans and deposits i.e most banks are fairly poor on both at the moment, its the service and assistance from the BM where the added value is.

That is completely true.

Sooner or later, banks will make an error. And then, you will be glad you have a local person you can speak to, who will be helpful.

Never, ever, be dependant on a call centre!