RBS vs Handelsbanken - which is the winner for your business account?
Handelsbanken - or Svenska Handelsbanken AB to give it its full name - is a Swedish bank which provides universal banking services. These services include the traditional corporate transactions, investment banking and trading, along with consumer banking and life insurance. Handelsbanken is one of the most prominent banks in Sweden with over 460 branches - and starting to make inroads into the UK banking market. But can it provide an alternative for business customers who are having to leave RBS?
Why do I need to switch?
It could be - if you are one of the many thousands of business owners currently banking with RBS who have discovered your bank does not want your business anymore.
RBS has been ordered to reduce the number of business customers it has to increase competition in UK business banking. It was rescued by the taxpayer with a £45bn cash injection a decade ago. Now the Government believes that it is time for the taxpayer to get some return - with the banking system opened up to more players. But it means taking some of RBS’s customers away.
So you may be one of the many thousands who find themselves looking around for a new bank. But be reassured. If RBS can’t help you, there are plenty of other banks ready to step into their place.
You can make your choice of at least 11 other 'Challenger' Banks who will receive money from RBS under the scheme - and take your pick of the incentives and services they offer.
It’s not good news for RBS - but it could be very good indeed for you, your business - and the bank you choose for your business in future. RBS will get in touch directly with all businesses who are eligible to take part, but if you've got some specific issues and questions you want answered, and want to talk to our independent experts you can call us on 0330 808 8802 or email [email protected].
Svenska Handelsbanken AB wants your business
The banks taking part in the scheme range from smaller high street names which have been providing financial solutions for generations - to complete iconoclasts who are turning the banking world upside down.
Svenska Handelsbanken AB provides an alternative to both. Based in Sweden, and dedicated to personal service, it is starting to open branches in the UK.
Their approach is traditional. The branch is the bank: local relationships come first, even if they are backed up by modern digital services.
But is it right for you?
If your business is based within London, it may be easy enough to take advantage of the personal service that is key to the Svenska Handelsbanken experience.
You might enjoy the convenience of very personal service, and the support of a business manager who knows you and your business, as well as the convenience a local branch offers. But there might be other considerations. You might want digital banking from your mobile, for example. You might prefer the reassurance and connections of an established UK player.
You might want a flexible approach to lending or specialist support services.
Whatever you are looking for, you may find that it takes more time than you have to hunt it out from the banks taking part in the scheme.
Fortunately, at Rangewell we can help. Call 0330 808 8802 or email [email protected] to talk to us and discuss the factors to consider before making your move.
We work with all the leading banks and other lenders in the UK. We have a team that includes former RBS Business Bankers and Relationship Managers who know the business banking market inside out. It means we know each one and how they work, and we can take an objective view of each on your behalf.
Think of us as an expert team working on your behalf, because that is exactly what we are. Our team includes experienced bankers including ex-branch managers, and business advisors, as well as sector specialists.
We can use our knowledge to help you see what bank would best suit your needs if you want to transfer your business from RBS in the Business Banking Switch. We will look at Svenska Handelsbanken with you and talk about the negatives as well as the positive so you can make your choice.
Our help is completely free.
So why do we offer it?
The answer is actually very simple. Whatever bank you choose, you can call on us when you are looking around for business funding.
So ring us now and ask about the business bank you should choose for your business, and about the funding you want to make the most of it. Call 0330 808 8802 or email [email protected] to talk to us about your specific issues and the answers you need.