Bankspese
Regular evaluation (every 2 to 5 years) and selection of current banking relationships as a fixed part of active bank management
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Target group:
- Companies with low/high number of bank details and/or accounts
- Companies with 6-digit bank charges/cash transaction costs
Brief description/basic statement:
- Regular evaluation (every 2 to 5 years) and selection of current banking relationships as a fixed part of active bank management
- Benefits from this: Overview of current banking products and regular monitoring of existing financing and agreements
- Bank rating: Instrument for assessing the requirements of a bank. Comparing products/services according to qualitative and quantitative criteria helps in deciding on necessary bank connections and the distribution of cash flows per bank.
- Inhouse Banking & Corporate Banking – Insourcing of banking services
Cash relevance:
- Cost
Banks and their pricing
When it comes to price, banks have always been characterized by their elegant restraint. This is reflected on the one hand in a very non-transparent design of conditions and on the other hand in the confusing "wording". It is not uncommon for us to work with companies that do not have a complete overview of their global banking conditions.
A quote from Prof. Süchting, who is considered a specialist in the banking sector and for many years head of the Institute for Credit and Finance at the Ruhr University in Bochum, sums it up: "The revenue from a customer is maximized when in price negotiations the presumably necessary overall price reduction is kept as small as possible. The bank can achieve this if, instead of a standard price for a service, it calculates partial prices with different price reference bases”.
The price reference bases for bank services are:
- Stock sizes: provided credit line acts as a reference basis for the calculation of the commitment fee
- Value streams: larger sales side acts as a reference for the sales commission for current accounts
- Quantity flows: The number of posting items acts as a reference basis for the account management fee
We can only substantiate these statements: partial prices based on different price reference bases result in a large number of pricing options, which severely limits market transparency for customers and makes an exact price comparison impossible. New movements like TWIST will not change banks' pricing and calculation practices.
Many banks are losing the credibility of fair pricing due to a lack of transparency, hidden partial pricing, multiple billing and incorrect billing. It is understandable that companies are increasingly demanding transparent and, above all, comprehensible pricing.
Transparent presentation of your bank conditions and benchmarking
The question that is often asked in practice is: "How much money can a banking service cost?"
CASHFINDER® can help here. In detail, we have developed a benchmarking of bank conditions (a structured comparison of conditions), which we make available to our customers free of charge in our analyses. In our cross-bank comparison of conditions, all service and price components are broken down and scrutinized in detail.
In a first step, we collect all the necessary data in the CASHFINDER® analysis. Then all charged expense rates are analyzed in detail and the types of calculation of the expenses are scrutinized. Our experience shows that there is considerable room for negotiation with many price components.
This is the only way to find out how much you actually pay for which service and how you are in the benchmark.
CASHFiNDER analysis in the field of banks
- Bank statement analysis
- Analysis of payment instruments
- Analysis of quantity and volume representations
- Comparison of conditions and benchmarking of banks
- Bank selection (also international) by the CASHFINDER - bank rating
- Inhouse Banking & Corporate Banking – Insourcing of banking services
- banking strategy
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