How Knowing the Right People Can Improve Your Commercial Banking

by Mike on October 21, 2013

How Knowing the Right People Can Improve Your Commercial Banking

The advantages of your Commercial Banking can be skewed towards you if you know the right people in the banking sector. Like in all business today networking is not just a buzzword but a real way to get things moving as per your desire, and getting to know news before they hit the stands. Information is power and so having someone to provide it at the time when it can be put to viable commercial use is great. Here are some people you should make a deliberate effort to know at your commercial bank:

Credit Officer

In many banks, this is the first person with whom you relate when trying to secure a loan. He will ask you basic questions relating to your business including what you intend to do with the loan. He will run his eyes down your bank account as you speak and it is what he sees on your bank statement and what he hears from you that will determine what he puts down on paper as recommendation. However if your relationship with this person is with whom you share a cup of coffee or a drink then he is likely to advise you on shortcuts, perks and even share some ideas on how to manipulate your bank statement for the right results. It is important that your business appears like it is facing bigger prospects and he may eveb advise you to delay your loan application for a couple of months during which you can channel money for other uses through that account to make it look healthier and vibrant. On the reverse of this if you are just another customer you will get a “Yes or No” answer and that’s it. This is also the guy who you need to talk with if and when loan repayments are overdue so it always helps to be in his good books.

Customer Care Manager

Although the manager is supposed to care about all customers having a personal relationship means that you and your employees can be saved the long queues especially if you make daily cash deposits. You will often find yourselves being directed to an idle teller behind some opaque window or such other place. Sometimes even a ‘closed’ counter can be re-opened for your sake; and a few other customers benefit in the process. That is how free business banking services come casually and as a matter-of-fact.

In case of a transaction error, you can be sure to have it rectified quickly and without fuss even if you discover it after you have left the bank. For example, you may deposit $1,250 only to get back to the office and realize the slip reads $125. When you are on first name terms with the customer care manager the error might be rectified without you having to visit the bank in person. Yet the same error would be a cause for panic for any other customer or small business and you may well end up being on the losing end.

Investment Manager

This is the person who can give you a personal call and advise you to liquidate the securities you have at the stock exchange and bid for an asset that is being offered by the bank to recover its money from another customer. This is you inside person to help you achieve your business financial goals faster. These are the opportunities the Investment Manager is likely to only let you know when you have become friends. Sometimes you will even get to learn when a great IPO is in the offing since bank investment personnel are strategically placed to learn of such deals.

Branch Manager

The bank manager’s opinion is very important when it comes to committing the bank on matters of massive amounts. The credit officer and manager usually work together with their larger organisations to achieve their goals and yours. Usually the cliensts who can benefit from bank guarantees or letters of credit are those that the manager knows well and for whom he might go the extra mile. Taking the initiative to develop a relationship with your branch manager and spending some time of this may payoff in the long run if you need bailing out one day.

All Bank Personnel

Here’s another tip to make things better for you. Be friendly to everyone who serves you at the bank and when possible leave them with a smile. They deal with hundreds of clients a day and how often does anyone attempt to do this nor to be friendly. If your the customer who is friendly and stands out its more likely to help you in the long run. Like any workplace bank employees talk and the more people on your side the more likely the important senior personal are to notice and be friendly as well.

Any bank information from them can only be to your advantage. Even a caveat when things are not so rosy at the bank can save you a fortune.


How do you interact with your commercial lending institution. First name basis or just a nod? Got a great tip on befriending the branch manager? Leave a comment and dont forget sharing is caring!


***Photo thanks to fufuwolf***

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