Maximize Your Relationship with Your Banker

Your banker can be a valuable asset. After all, you are paying them treasured funds to process your payments and receivables. Why not access their knowledge to ensure you are using the most appropriate services and obtaining optimal pricing?  

Let's say you are told that you are receiving the best price available. To validate that claim, you must know how your unit price compares to others in your industry. Each client may be paying a different amount, so it is important to see how you or your company compare so it is necessary to talk about the different services your bank provides to other clients.   

Another important rule to follow, is to review your account analysis statement with your banker. This step is significant because going through the statement with your banker will allow you to inquire and ask questions as you analyze each line. It is the best way for you to gain all the essential information as your banker will be able to explain the functions and benefits of each service in understandable terms.

During this process, it is necessary for you to identify redundant or underutilized services like multiple checking and savings account options. You may be paying extra for these unnecessary services so you can go through and mutually agree to eliminate services that you do not need, and ask for suggestions or solutions in regard to processing your payments.   

After you go through the review with your banker, talk about the level of fraud protection provided by your selected services. It is important for you to take these matters into your own hands because they are your payments and ultimately affect your bottom line. Your banker is there to guide you, not just to tell you what is ideal. Additionally, it helps to be cognizant of your bank statements because errors can be made, and you cannot solely rely on your bank to notice each one. An open conversation with your banker is the best way to feel confident that you are receiving optimum pricing and services.

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