which business bank

[Dman2]

Currently bank with Barclays
After waiting 8 weeks for a reply on a loan application, think that after 41 years trading with them, having never defaulted on any payments. Maybe it`s time to tell where to stick their bank.
After our telehandler burnt out earlier this summer, we had to replace it, and obviously we upgraded on what we had. We had funds to purchase outright, but would be leaving cash flow a bit tight. So rang bank to arrange a loan for £15000, which is half the purchase price of what we bought so no worries about collateral. After a few calls and emails, still waiting for a reply

 

[Socksitis]

Should be easier to make it right with your existing bank - ask if they have an agricultural manager? I have not changed banks so do not know how easy it is - but the relationship is key, whatever bank you choose. We are with HSBC and have an agricultural manager who is contactable and answers emails and phone calls.

 

[curlietailz]

Try Oxbury. They have been great with our invoice purchase arrangement ( basically a short term loan to ease cash flow for specific invoices ie fertilizer and seed)

 

[db9go]

Changing banks is not a big problem but finding one that you can work with might be.

Treat them like any other business dealing they are only a money shop

 

[thesilentone]

Should be easier to make it right with your existing bank - ask if they have an agricultural manager? I have not changed banks so do not know how easy it is - but the relationship is key, whatever bank you choose. We are with HSBC and have an agricultural manager who is contactable and answers emails and phone calls.

It's good to have a person you can contact directly, however he/she is an intermediary between you and a corporation who does not give tuppence for you or your business, that is why they have relationship managers.
My advice is use anyone and everyone, and act in your own interests, I've seen to many very good people who establish excellent customers relations in banks and finance companies dumped like a hot potato due to a 'change of policy',
Our own empathy makes us loyal to good people, the banks know that, and profit from it, however the days of being loyal to the bank brand are over.
The HSBC appear to have locked into building relationships again, maybe a good thing, let's see how long it lasts, my only worry is, they seem to be desperate to lend money at the moment, and what is over the horizon.

 

[upnortheast]

For finance for a telehandler there is a chap called Howard Musgrave, not so far from you who should be able to sort something for you. Organised competitive HP rates a couple of times for us when changing vans.
Canny bloke for a Sunderland supporter

Our Team – Dealer Net Finance

dealernetfinance.co.uk

 

[S J H]

Currently bank with Barclays
After waiting 8 weeks for a reply on a loan application, think that after 41 years trading with them, having never defaulted on any payments. Maybe it`s time to tell where to stick their bank.
After our telehandler burnt out earlier this summer, we had to replace it, and obviously we upgraded on what we had. We had funds to purchase outright, but would be leaving cash flow a bit tight. So rang bank to arrange a loan for £15000, which is half the purchase price of what we bought so no worries about collateral. After a few calls and emails, still waiting for a reply

I’ve stopped the overdraft with NatWest and gone with oxbury for the flexi account. It seems to be working so far and have a contact with oxbury. Just have the current account with NatWest so have as little to do with them as possible.

 

[som farmer]

we have to ring up a call station in Scotland, if we need anything, totally couldn't care less, luckily we only now speak, to renew the OD.

last renewal, said we might purchase some land, 'local' manager rung the next day, p1ssed me right off.

but that's the way its going, and unless we vote with our feet, nothing will change. Just like cash will disappear one day.

 

[Bald Rick]

Currently bank with Barclays
After waiting 8 weeks for a reply on a loan application, think that after 41 years trading with them, having never defaulted on any payments. Maybe it`s time to tell where to stick their bank.
After our telehandler burnt out earlier this summer, we had to replace it, and obviously we upgraded on what we had. We had funds to purchase outright, but would be leaving cash flow a bit tight. So rang bank to arrange a loan for £15000, which is half the purchase price of what we bought so no worries about collateral. After a few calls and emails, still waiting for a reply

Be easier to bang it on HP

However, we are finding that the traditional high street banks are moving away from agriculture (& the understanding thereof) as they try and move ever more online … including meetings now which they want to do via Teams rather than around a table with a brew and a slice of cake.

Talking to Oxbury was a breath of fresh air although they do not operate a current account so you still have to maintain one from your existing bank

 

[Dman2]

Have options for HP
There used to be an Ag manager at Barclays who was great.
I could send him a txt saying we wanted to buy something and within 2 days he would call in with the paperwork and a good rate of interest.
He got promoted ( probably because of the amount of business he got )
Now it`s difficult to speak to someone who knows what you are talking about

 

[WD2022]

I’ve stopped the overdraft with NatWest and gone with oxbury for the flexi account. It seems to be working so far and have a contact with oxbury. Just have the current account with NatWest so have as little to do with them as possible.

I am doing the same. They don’t want you

 

[Green oak]

Sometimes it’s better the devil you know. Least Barclays still have an agricultural bank manager. But it’s slow getting stuff done now regarding loans. So many hurdles to jump over to get the job done.

 

[Ford7700]

Have options for HP
There used to be an Ag manager at Barclays who was great.
I could send him a txt saying we wanted to buy something and within 2 days he would call in with the paperwork and a good rate of interest.
He got promoted ( probably because of the amount of business he got )
Now it`s difficult to speak to someone who knows what you are talking about

Is Martin Dodd still there ? Was based at Darlington.