Keeping your bank honest
Transactional banking can be described as the way in which business owners operate their day to day banking. The banks like transactional accounts as it generates a “risk free” income stream with fees and charges levied monthly.
A bank's main focus has always been profit, and transactional banking fees generally make up a large part of their revenue. A finance broker on the other hand, works directly for you and serves as a professional mediator between their clients and the banks.
When it comes to transactional banking, our fee is based directly on a client's savings in the first year, so you can rest easy knowing that we always do our best hunting down the best deal available anywhere in the country.
As part of our process, we introduce our clients to new technologies that help increase the efficiency of their banking and we regularly review the specific circumstances of each client to make sure their business' transactional accounts are always fully optimised and cost effective.
LKFS has the ability and experience to analyse the current banking facilities used by our clients and can easily facilitate a review
Why pay more than you have to?
All we need is:
- Previous 3 months bank statements of your business operating account.
- Previous 3 months of electronic payment data, bearing in mind the banks have different types of charges in this area.
- Previous 3-6 months EFTPOS statements (12 months if the business is seasonal)
We can then review and compare rates with competitor banks to ensure that your fees and charges are fair and reasonable; if they are not then we can request the authority to speak to the bank directly and negotiate an improved/reduced structure.