The lovely bank ...
Hi Folks,
Well, it's been a stressful week so far (and it's only Tuesday!).
After receiving a letter in the post yesterday morning about having gone somewhat over the overdraft limit I feel ill!
A couple of weeks ago I asked for an increase in our overdraft limit as I knew we had a few things to come out of it which would take it not particularly significantly higher. We had just printed a book after all, and was about to embark on a PR campaign as well at Erotica.
Needless to say, only half of what I needed - note the word NEEDED, rather than WANTED - was sanctioned.
So, it was no surprise to me really, that our overdraft was just shy of the amount I had previously requested!
After some grovelling to the lovely man at the end of the phone (you don't seem to get real bank managers you can visit these days it would seem) provided I stuck to a few rules, and informed them of what was going on - I would have to pay £4 a day for the privilege of being overdrawn past my limit. Whoopee dooo da!
What are we to do. We are a small business, I asked in advance for the amount I knew we would be going overdrawn by.
We are a small business, we are working all hours to try and made a success of this business. We really haven't had much support (I feel) during our first year from the bank - only to try and sell us other services which cost us heaps! No real assistance like, how do you cope with 90 days accounts, and cash flow and keeping on top of invoicing and the like?! Now perhaps I have this slightly wrong, but isn't that what banks are supposed to be able to help you with - how to look after your money & hopefully become profitable?
Isn't it their best interests for us to do well?
One would think so - but I guess not.
Well, we have some cheques in today which I can pay in tomorrow - so that will bring the overdraft down a little - still a copule of thousand to go mind! But, in three months time, I will have most of it in the bank - I might not be able to get our next title printed - but hey - we won't have to pay £4 a day any more!
One disillusioned bank customer trying to run a business!
Come back soon!
PaulineThePublisher
Well, it's been a stressful week so far (and it's only Tuesday!).
After receiving a letter in the post yesterday morning about having gone somewhat over the overdraft limit I feel ill!
A couple of weeks ago I asked for an increase in our overdraft limit as I knew we had a few things to come out of it which would take it not particularly significantly higher. We had just printed a book after all, and was about to embark on a PR campaign as well at Erotica.
Needless to say, only half of what I needed - note the word NEEDED, rather than WANTED - was sanctioned.
So, it was no surprise to me really, that our overdraft was just shy of the amount I had previously requested!
After some grovelling to the lovely man at the end of the phone (you don't seem to get real bank managers you can visit these days it would seem) provided I stuck to a few rules, and informed them of what was going on - I would have to pay £4 a day for the privilege of being overdrawn past my limit. Whoopee dooo da!
What are we to do. We are a small business, I asked in advance for the amount I knew we would be going overdrawn by.
We are a small business, we are working all hours to try and made a success of this business. We really haven't had much support (I feel) during our first year from the bank - only to try and sell us other services which cost us heaps! No real assistance like, how do you cope with 90 days accounts, and cash flow and keeping on top of invoicing and the like?! Now perhaps I have this slightly wrong, but isn't that what banks are supposed to be able to help you with - how to look after your money & hopefully become profitable?
Isn't it their best interests for us to do well?
One would think so - but I guess not.
Well, we have some cheques in today which I can pay in tomorrow - so that will bring the overdraft down a little - still a copule of thousand to go mind! But, in three months time, I will have most of it in the bank - I might not be able to get our next title printed - but hey - we won't have to pay £4 a day any more!
One disillusioned bank customer trying to run a business!
Come back soon!
PaulineThePublisher
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