Make sure your bank is working for you

WITH 22 banks in Nigeria fighting it out to house your hard earned money, the level of products and services on offer has gone up a notch.

If you’re in the market for a new bank account or you want to squeeze your current bank to make you a better offer, it always pays to first look at what the competition can bring to the table.

With competition among banks heating up, your bank should be willing to go the extra mile to retain you as a customer. If they don’t then you should look elsewhere.

Banks can be a little bit like your girlfriend or boyfriend in that as soon as you start talking about an ex or another someone, they tend to get upset and nervous.

But if they know you’re worth the trouble they’ll do almost anything to try and keep you and it’s this leverage you can use to get a better deal out of your bank.

Thanks to the rise of the internet and the focus by banking institutions on Nigerians as internet bankers, banks compete against each other on a somewhat level playing field.

Most banks have competitive rates, fees and charges and easy to use banking apps so you rarely have to step foot inside a bank.

Of course some banks will always outshine others but the devil is always in the detail and some of the smarter customers will push a little harder to find out what extra perks a bank can offer you.

Right now there is a big push by both the federal government and the banks to support Small Medium Enterprises in Nigeria.

Some of the biggest gains in services have resulted from banks looking to bring entrepreneurs and business owners into the fold.

Special business accounts are nothing new but sometimes it’s the little things that matter.

Heritage Bank has initiated what it terms “value-added service”, which is really just business speak for going above and beyond customer expectations.

Keeping in mind the recent focus on SMEs, Heritage Bank is offering its customers innovative and interactive business spaces for free.

This service would be perfect if you’re on the go or away from your headquarters and allows you to carry out business meetings with your customers, suppliers or contractors.

The ‘HB Concourse’ can be reserved online for determined lengths of time and features all you need to remain professional including things like video conferencing, refreshments and administrative needs.

So, it’s these simple and convenient perks that makes it really important to know what your bank is willing to do for you and if they’re not doing it then all you need to do is walk.

This is a featured post.