When it comes to banking, most people are aware of the basic services on offer. Current accounts, savings accounts and credit cards are familiar to us all, and most of us use at least one on a daily basis.
However banks offer plenty of other services that you may not know about and these services could help you in a variety of ways.
Helping you start your own business
If you’re considering starting your own business, opening a business bank account will probably be on your to do list. But you may not be away of other ways in which a bank can help you to make your start up a success.
Banks are always keen to attract business accounts as, on average, once a business has chosen a bank, they tend to stick with it – bringing the bank more business as the company grows. As well as loans to help you cover start up costs, some banks will offer free business advice, seminars, preferential rates and continuing support from financial managers.
Giving your career a boost
If you’re looking to change jobs, or just get a leg up on the career ladder, banks can help you by providing professional career and development loans. This allows you to cover the expense of course fees and living costs, only repaying the loan once you’ve completed your course.
Getting a bank loan to help with career development might seem like a big commitment but your improved career prospects should easily cover the cost of the loan and leave you in a better financial position for the future.
Helping make your house a home
With the housing market still uncertain, many homeowners are choosing to improve on what they’ve got, rather than move house. With UK finances already stretched, many are struggling to find the money for essential maintenance and renovation.
This is where banks can help. With a homeowner loan, you may be able to borrow money secured against your home. Giving you the freedom to create that dream kitchen, build an extension or simply give your whole home a face lift.
This should actually help to increase the value of your home, whilst giving you and your family a great place to live.
Insuring your valuables
Your bank may not be the first thing to spring to mind when you’re sorting out your travel insurance but if you get a premium account, some banks will include travel and mobile phone insurance as part of the package, you could even get car breakdown cover thrown in as well.
This can take a lot of the stress out of managing your finances and if you do need your insurance while on holiday, you’ll know you’ve got cover you can trust.
Helping the environment
The banking industry is helping the environment in a number of ways. Firstly by encouraging customers to use paper free banking they are decreasing the demand for paper, and therefore the toll on our forests and woodlands.
Secondly, ethical banks such as the Co-operative bank, actively seek to encourage lending within the renewable energy and carbon reduction sectors. This helps to develop environmentally friendly technologies and works towards creating a healthier world for us all.
So next time you’re planning some home improvements, a career change or a holiday, have a look at what your bank has on offer to see how they can help you.
