We have a very strong relationship with the Bank of Scotland and list below some of the facilities they offer:
Opening Business Bank Account
Although fairly routine getting a company bank account can often take weeks. We can arrange a meeting at a Bank of Scotland branch with one of our contacts and they will open a current account for you there and then. You will have access to the sort code and account number that day which will then allow you register for VAT. This is great for new start companies who are looking to trade straight away.
Cash Friday for Recruitment Agenices
Lloyds TSB offer a fantastic product for recruitment agencies called Payroll Finance/Cash Friday. It is basically and invoice finance system that allows you to draw down cash from your sales ledger. However in addition you get all the following benefits:
- 100% funding, you receive fully funding on your invoices raised.
- Full back office: Lloyds provide a comprehensive back office and Payroll Finance service. They manage payroll, sales ledger, credit control, HMRC payments and more.
- A single fee: You pay for the service with just one expressed as a percentage of your sales.
Invoice Finance and Factoring
Lloyds TSB also offer a unique facility for Invoice Finance and Factoring whereby you have a 28 days notice period. This is often the complaint from companies that Invoice Finance and Factoring providers lock them into a contract with a 6 month minimum notice period. Lloyds TSB believe that if you are not happy with the service then you can leave with no additional fees after 28 days notice. This shows how confident they are in the service provided. We have found this beneficial for clients who want to make a plan to come off Invoice Finance or Factoring and fund the business from an alternative source. Lloyds can offer up to 90% draw down against your sales ledger and bad debt protection.
Call us today and we can talk you through the services available and arrange a meeting with the appropriate contact at Lloyds TSB/Bank of Scotland.