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Independent Banking Advisory Service |
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Business Banking, Small Business Banking, Turnaround & Rescue Small Business owners provide banks with sensitive business financial information trusting that their bank will work with them and hoping that the bank will understand their position and support them. Unfortunately, this doesn't work.
All banks seek
maximum return and minimum exposure, charging heavier fees and higher interest on small
businesses, whilst demanding higher or maximum security. The banks
We work
with small businesses
Sunday Times – Business – How to keep out of trouble with banks – Pressure groups are calling for tougher measures against banks, saying sharp practice, high charges and inflexibility are still hurting small firms. When Chris Vass opened the letter from his bank telling him that a decade after his family business had collapsed. NatWest suggested he sell his home to repay his debt, he says it was like a “hammer – blow”. “The case of the Vass family – shows how easily a bank can enforce a signed agreement,” says Eddy Weatherill from the Independent Banking Advisory Service (IBAS), which helps people who run into trouble with banks. “Never trust the phrase, ‘this is just a formality’, or ‘we can change this later’ when signing a document. Get all the facts on the worst case scenario and don’t be rushed into signing something.” Weatherill says: “Banks do lie and cheat.” - Result on this case? We were able to negotiate a settlement with the bank. Sunday Times Small Business - Banks profit at expense of small firms – The big four have been criticised for taking advantage of inexperienced owner-managers. Eddy Weatherill of Independent Banking Advisory Service (IBAS) says: “Small businesses are an attractive target because they have high security, liquid assets and are here rather than thousands of miles away.” - “Ask yourself just how solvent you are if the bank demands its cash within hours - because nobody is immune,” says Eddy Weatherill
It's natural you will want to know
our 'pedigree' - visit
UK Bank News 2009
for most recent Banking News and you will
also find our national newspaper comments
plus many more in the News and archives sections of our site -
see our site map. IBAS
has featured in BBC TV and ITV News items and programmes on banking and the
banking issues many times since we were established in 1992.
Independent Banking Advisory Service (IBAS) is a national, independent, non-profit, unique specialist banking customer membership organization which resolves banking complaints and disputes and which has campaigned on UK Banking customer issues since 1992. We provide bank and banking assessment, analysis, bank comment and content for BBC TV News, ITV, Radio and national newspapers, keeping many serious banking issues 'alive'. |