Frequently Asked Questions
BankCare
Why do so many professionals and business advisors refer clients to IBC?
Because it’s in their client’s best interests. Not many people can offer truly independent and expert advice on banking and commercial lending. There are other reasons, though:
- We do not compete with our introducers
- We are independent and offer clients best advice at all times
- An introducer’s reputation is at risk every time they advise clients on matters with which they are not completely familiar
- We have had extensive training in our field, and many years practical experience
- We are members of the NACFB (National Association of Commercial Finance Brokers) and comply with their professional code of conduct
When IBC are involved, will I lose control over my dealings with the bank?
No. We do not stand in the way of the bank/customer relationship. We are simply there to support and advise our client.
Will my bank feel threatened if I am using IBC for ongoing advice and support?
No; and we have never known a problem in this area! Our banking backgrounds mean they see us as lenders – just like them – so appreciate our involvement.
However, if a client prefers, the bank does not need to know of our involvement – we can work effectively behind the scenes as well.
If I use IBC to help negotiate my borrowings in the first place, why would I need BankCare?
Borrowing facilities might be in place for several years and a lot can happen during that time, leading to changes in the initial arrangements:
- The lending manager might change;
- Continuation of certain facilities might be subject to an annual review;
- The bank might suggest new products and services;
- The bank’s lending policy might change;
- The bank might change its tariffs or charging policy;
- A business or its market can change dramatically;
- For many reasons the bank may want to change some of the borrowing terms
Many borrowers have found it reassuring to have our expert help and advice on hand for just such eventualities.
What support will I get and how much will it cost?
The level of support required is at the client’s discretion, and this determines the cost. In most cases, the correct level of support is readily apparent so clients can opt for a simple fixed monthly payment, and there are no hidden costs.
If the level of support required is harder to predict, clients can opt for a ‘pay as you go’ arrangement. Here, the amount can be capped to give clients an added level of comfort and protection.
We usually find that a mix of the two – a fixed monthly payment, with a ‘pay as you go’ arrangement to cover any unforeseen eventualities – works best.
The entry level is for simple email and telephone based support, in case of need.
There are examples of how some clients have used BankCare in the services section.
Can I change my mind after signing up?
Yes. If a client wants us to do more for them - or less – this can easily be arranged.
There are no extended tie-ins: all we ask is that clients agree to give us one months notice to stop using the service.
