Banks as a source of referral

Banks as a source of referral

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I would like to try and approach banks as a source of two way referral. Clients ask me for a bank account recommendations. At the moment I just direct them to a particular bank without any further involement. I am missing out on Intoduction fee as well.

I would be grateful if someone could let me know who (job title) contact in the banks in the hope of arranging two way referrals.

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By Roland195
22nd Dec 2010 09:43

You poor innocent

If you believe this mythical beast (a bit like the HMRC Agent Maintainer) exists nowadays then you have either lead a sheltered life or are deluded.

It was possible in the good old days with local bank managers (real bank managers) and in fact was a useful relationship to have but you are about 15 years too late.

If the banks do such a thing these days, there will be an "approved" list somewhere that you can bet you are not on. How you get on it is very likely a mystery but will certainly be an opaque process possibly even invloving used £10s in a brown envelope.  

 

 

 

 

 

 

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FT
By FirstTab
22nd Dec 2010 10:54

Roland195

Your response made me to do some of my own homwork.

Barclays Bank have a Business Manager who is very keen to meet me and form a mutually benefical business relationship. Further they offer inroduction fees as well. I had very good feedback from my clients on Barclays Business Bank account.

 

 

 

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By David2e
22nd Dec 2010 11:34

HSBC

I know Business Managers at HSBC can also have these arrangements, where there is an introduction fee (~£100 I last heard) .

As for being referred to, this is also something I know is done but the arrangement and actual referrals you receive may fall down to the individual Business Manager and your relationship.

David Toohey
The Accountants Circle

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By justsotax
22nd Dec 2010 14:25

HSBC...

i have referred a couple of clients to hsbc...current referral fee is £50, but i return it to client as a goodwill gesture, not had anything the other way, although have met the business managers on a number of occasions....i suspect i am lower down the order in regard to local accountants....(I also advise hsbc because they do 18mths free banking ....which is as good as it gets on the highstreet i think)....

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By Roland195
23rd Dec 2010 09:44

Kickbacks?

I must say I am suspicious of the referal fees and I don't doubt that ICAS has something to say on the matter. Giving it back to the client as a fee reduction seems better but I would not do this myself.

As for getting work out of them, you are dreaming.

 

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