Banking for Business Overview n Banking Services for

Banking for Business

Overview n Banking Services for Business n n n n Money Transmission Advice International Services Loans Leasing Night Safe Facility Paypath Documents needed when applying for a business loan

Banking Services for Business Money Transmissions Methods of paying bills ü ü ü Cheque Book Credit Transfer (once off) Standing Order (fixed amount) Direct Debit (variable amount) Plastic Cards (Visa, etc)

Banking Services for Business Advice on: ü ü ü Forms of business ownership Sources of finance Taxation

Banking Services for business International services ü ü Foreign currency exchange Money transfers to other countries

Banking Services for Business Loans ü Short Term – Bank Overdraft (raw materials) ü Medium Term – Term Loan (car or computer) ü Long Term – Long Term Loan or Mortgage (loan for a house)

Banking Services for Business Leasing ü Renting vehicles and equipment

Banking Services for Business Night Safe Facility § Putting money into the bank after opening hours

Banking Services for Business Paypath ü Paying employees wages directly into their bank account by bank giro/credit transfer

Documents needed to accompany a loan application from a company 1. Memorandum of Association (external rules) 2. Articles of Association (internal rules) 3. Written agreement of directors 4. Signatures of people authorised to sign cheques 5. Proof of where the deposited money has come from

Recap/Review n Banking Services for Business n n n n Money Transmission Advice International Services Loans Leasing Night Safe Facility Paypath Documents needed when applying for a business loan