Scan the market for new lendersLEARN MORE
Analyse your deposits and improve interest incomeLEARN MORE
Two different SMEs, placing a £ deposit of equal term, to the same bank may receive two different interest rates.
If you have surplus cash in deposit accounts then it may benefit you to assess “how” and “where” you are placing these balances and to “which” bank.
The assessment will suggest possible/general savings you could make, based on the size of your deposit. If this suggestion is large enough then you should investigate further.
Understand your payment tariffs to reduce costs and review new servicesLEARN MORE
There are new financial technology companies providing innovative ways for SMEs to collect money from their customers and make domestic and international payments.
They also offer new ways to automatically reconcile your ledger, all saving you time and costs.
Yet traditional banks continue to overcharge SMEs to make payments.
The assessment provides a general cost saving across the payment products you told us you use, factoring the volumes of payments you make.
If the suggested Payments £ saving catches your eye, it’s time to review precisely what you are paying and assess if this can be reduced, or a new provider found.
Improving foreign currency pricing and your costs for international payments are the easiest areas an SME can immediately save costs on.LEARN MORE
Foreign Exchange should be a transparent banking product – but it’s not. Banks are able to make large revenues from SMEs on thier foreign currency services and payments.
The assessment will provide you with approximate FX cost saving based on the FX products you told us you use and the volumes of currency you buy/sell.
"Read more" to quickly review your last five currency trades via our partner.
That’s why ExplainMyBanking was created – to assist you to benefit from better banking products and services, at reduced costs
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