| When it comes to small business banking, this can be a | | | | Another necessary problem that small business |
| confusing issue for those just starting out. Some banks | | | | banking advice would suggest is that of keeping an |
| will use this situation to get the most out of those | | | | eye on your charges. If you think you have suffered |
| customers and independent advice on small business | | | | unfair small business banking charges, then you must |
| banking is always a good idea. | | | | find the time to act to reclaim them and not just put up |
| One of these issues regarding the finances of small | | | | with it. Hundreds of thousands of people have done |
| businesses is the problem of staff. Offering staff | | | | this successfully. |
| enough incentive to stay with the smaller firm and not | | | | Despite claims for unfair personal banking charges |
| succumb to the added bonuses and attractions of a | | | | being currently on hold, this is not the case for business |
| larger corporate firm is a hurdle to be overcome. | | | | banking. The difference is that business accounts are |
| Small business banking dictates that large salaries and | | | | covered by Common Law rather that Consumer Law |
| perks are not possible. However, there are some | | | | and to this end, need to be worded differently. Always |
| things that can be done. There are schemes that are | | | | make sure you keep accurate records in case you |
| currently running where small business managers can | | | | ever need to claim back unfair charges. |
| offer their staff the chance of private healthcare plans. | | | | It also pays to direct all mail concerning overcharging to |
| These are discounted to the company and also have | | | | your local branch rather than head office as this will |
| the added advantage of reducing time employees | | | | ensure that if your case makes it to court it will be a |
| take off work sick. This is a bonus to small business | | | | court local to you. Always make sure you read the |
| banking as no money is lost through sick employees or | | | | small print before trying to claim back small business |
| having to find temporary staff and pay their wages | | | | banking charges. There can be nothing worse than |
| too. | | | | shouting about a discrepancy and finding you were in |
| While some may think this wouldn't be enough to keep | | | | the wrong. |
| staff it has been found that eighty per cent of | | | | Be on the lookout for excessive charges. It is only |
| employees actually liked the idea of voluntary | | | | lawful for the bank to charge a fee in relation to what |
| healthcare benefits. 'Voluntary' is always a good word | | | | the inconvenience has actually cost them. Charges |
| to use for staff benefits as it is also widely known that | | | | over and above this are seen as penalties and are not |
| employees feel happier about their jobs when they are | | | | enforceable. Go back over old statements and |
| in charge of decisions that affect themselves. In fact, a | | | | records and work out exactly what you are owed. |
| quarter of those employees polled stated the choice | | | | Your first step should be to write to the bank and |
| of healthcare benefits as a deciding factor when | | | | request your unfair charges back. This often has |
| choosing an employer. | | | | favourable consequences and can remove the need |
| Staff are the most important asset to any small | | | | for lengthy and costly court proceedings. |
| business and healthcare plans are just one aspect that | | | | Take a close look at the court action choices open to |
| small business banking would advise is on offer. Other | | | | you. Listen to what the bank has to say and if you |
| choices encompass pension schemes, bonuses and | | | | decide to proceed, inform the bank of your choice. |
| gyms, depending on disposable income and numbers | | | | You will often find that this is when they back down |
| of staff as to whether or not it would be viable. | | | | and repay your charges to avoid the bad publicity. |
| A choice of some benefits as well as good treatment | | | | Above everything else, ensure you keep a close eye |
| of staff can be the deciding factor over whether or | | | | on your small business banking. Avoiding the charges in |
| not a small business will retain staff or not and is just | | | | the first place saves a lot of time and hassle that most |
| one of the issues they face. | | | | small businesses can ill afford. |