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Switching Stories: Stephen Cox
Up and down the country, businesses large and small are taking the opportunity to help themselves to some great offers, courtesy of Business Banking Switch. Here, one of them shares their Switching Story.
Welcome to Gould Singleton Architects
Gould Singleton is a Midlands-based group of companies of professional Architects and project managers. Established in 1977 and having banked with the Royal Bank of Scotland from the beginning, switching banks was a big deal for them.
Meet Stephen Cox
Stephen joined the practice straight from school. 34 years later, he is now one of the Directors and Joint Managing Partner of the group. When he first heard about Business Banking Switch, he didn’t think it would be worth their while, due to having accounts for multiple businesses. However, once he’d spoken with his Relationship Manager who confirmed he could receive a cash incentive for each separate business, he headed straight to the website to find out more and began his switching process.
What made you consider switching?
“I sat down with my business partner and went through all the options for our companies, which were clearly laid out on the website. The key for us was having [a bank with] a good name in the business sector, plus locality to a nearby branch and the ease of online banking.”
How did the scheme benefit your business?
“It was a welcome support that came in at the right time really. We use quite specialist CAD software for architectural design that operates on a subscription basis. With the incentive, we were able to secure a long-term deal for three years for a number of stations. As a result, we could immediately reinvest the money back into our businesses, giving us peace of mind.”
How did you find the switch?
“Overall, the departure was easy and the process was smooth. I was amazed how quickly the actual current accounts were set up with my new banks. We even had debit cards within seven days. Our original switch date did get pushed back by a week though, due to discrepancies in our various postal addresses across the four companies. I think the problem is with a company that been going for such a long period of time is that if it’s not all perfectly aligned, it can lead to some problems, but our Relationship Manager helped us out immensely with tying all those details together.”
Would you recommend using Business Banking Switch?
“Would I recommend it to anybody? Yes, I would. Everything was all set up in a line for us, ready to move.”