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Debt and Alt Finance
Scan the market for new lenders
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Deposits
Analyse your deposits and improve interest income
LEARN MORECLOSEDeposits
Two different SMEs, placing a £ deposit of equal term, to the same bank may receive two different interest rates.
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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. -
Payments
Understand your payment tariffs to reduce costs and review new services
LEARN MORECLOSEPayments
There are new financial technology companies providing innovative ways for SMEs to collect money from their customers and make domestic and international payments.
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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. -
Foreign Currency
Improving foreign currency pricing and your costs for international payments are the easiest areas an SME can immediately save costs on.
LEARN MORECLOSEForeign Currency
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.
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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.
How do we review your banking?
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You answer general questions regarding your business banking, taking less than 10 minutes. All information provided is non sensitive and anonymous -
Our digital framework reviews your business banking and instantly provides your FREE report to your PC/tablet/smartphone -
The report is your action plan to make savings in your banking costs and allows you to connect to new financial providers. Hassle free, at no cost and with no obligation -
Or directly assess dozens of new lenders who want to lend to firms like yours; in all stages, across all sectors and to all sizes.
- £14,600 of savings identified for the last 5 ExplainMyBanking users
- £403,000 of savings identified for all our clients in the last 3 months
- £27,300 savings identifed for our Tech and Telecoms clients
- An average of £12,800 savings for our Financial clients
The next steps to better banking
Our research shows that only 34% of SME’s are satisfied with their banking charges and fees
That’s why ExplainMyBanking was created – to assist you to benefit from better banking products and services, at reduced costs
Your free e-Book
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