Many banks remain apathetic despite difficult trading conditions. Everything takes a long time to process and is invariably referred to someone who has little or no relationship to the business. The reality is changing banks in business can cause lots of problems.
What you probably need is a better relationship manager or alternatively you might benefit from changing branch. Treat banks as a supplier and invite a selection of them to tell you what they have to offer. Even if you don’t need credit and are unlikely to need it in the future, research your bank’s lending criteria and track record in relation to companies of your size in your specific industry. You never know when you may have to draw upon this facility.
Businesses might need to consider changing banks when their current financial institution no longer provides the services to match their growing company.
Consider whether you need a high street banking facility. Why not have several banks with several different funding arrangements so you don’t have all your eggs in one basket?
Even if you’ve no complaints with your current bank, it’s important for businesses to reassess their financial requirements every so often as part of a continuous health check of the business. Companies evolve and expand and your original agreement may have been surpassed.