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If you are new to business banking or new to UK business banking, this module will help you understand the players and the basic mechanisms.
Even if you are an experienced businessman you may not be confident in your knowledge of the banking market and the negotiation ploys of bankers and how to counter them.
Banking negotiations are an art, not a science, and therefore skills need to be developed and knowledge gained. This module provides essential confidence and provides a sound basis and methodology for a successful bank negotiation.
This module is included in all our advice packages.
Content Headings of Module
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Banking Marketplace Contents Headings
- Feedback from you about our advice
- Frequently asked questions
- Introduction
- The Banks
- Which banks should you trust with your money?
- The global financial crisis
- The UK banking crisis – is it over?
- How do you choose a bank you can trust?
- Standard Offerings – accounts and tariffs
- Customised rates
- Shopping around
- Single versus multiple banking
- Assessing Interest Rates
- Credit Crunch effects
- Article written early 2008
- Banking During A Credit Squeeze
- Falling Base Rates and LIBOR
- Base Rates
- LIBOR
- LIBOR based borrowing costs
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Bank Negotiations Contents Headings
- Contents Headings
- Feedback from you about our advice
- Frequently asked questions
- Objectives
- Truth and trust
- Targets
- Service v Pricing
- Art v Science – nature of Banking
- What is my account worth to my bank?
- Normal profit and above normal profit
- Understanding the nature of how bank charges are set and where the profit on them comes from
- Where does the profit arise and how can you assess it
- Calculate the value of your account to your bank
- Taking a holistic view v “cherry picking”
- Prepare a Negotiation Plan
- Strategy
- Strategy on sale of insurance products by your bank
- To change or not to change bank
- Correspondence v Meetings
- Private Tenders
- Targets – service, interest and tariff rates
- “Free” banking
- Deposit rates and Borrowing rates and relationship to Base Rate and LIBOR
- Deal defence and deal improvement
- Dealing with objections
- New Businesses and Introductory Offers
- Handling the Negotiation
- Embarrassment Factors
- Drafting your first letter
- Achieving a response
- Bank responses
- Handling a meeting
- Drafting a reply
- Agreement
- Implementation
- Draft Bank Letter Suggestions
- Summary
- Good Luck!
- Keep us informed of the results of your negotiation and any notable incidents and stories that arise on the way.
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