Angry with your Banker?

"Be a friend to your Banker." I shared this with one of my friends who is the CEO in a Pharmaceutical Company. Lately he had been irritated by his Banker. After all the businesses that he had given to the Bank, it charges him for every small transactions and services that he needed to be done.

I put forward to him that other Bankers may be doing the same with their respective customers. If they do, there is nothing he can complain about. I believe that under the banking fraternity, and the practices governed by the Central Bank, there is nothing unusual in what the Bank does.

Thus, stick to his existing "one and only" Banker. There is no advantage in bursting into tantrums and desiring to change his Banker. It does no good. He will run out of Bankers if he is to "jump from Bank to Bank" whenever there are issues that arise occasionally.

The Banker will definitely extend special privileges to its customers that it values and appreciates. Thus, "make sure that you are one of the appreciated customers instead!"

I advised him to initiate, cultivate and grow the friendship with his Banker. And surely, I believe, the working relationship would be strengthened to his desired advantage.

I also believe that every business entity should have at least 2 different Banking Institutions for business facilitations, financial services and advice. If the business is into different geographies as well, I would advise appointing a local and foreign Banking Institutions to facilitate its business.

Having a great working relationship with the Bankers is a basic requisite in business. However, not many business men are appreciative of the advantages in doing so. Therefore, take time to reflect ... and take the relevant action.