Benchmarking
Our experience and databases enable us to measure the deviance from market norms of the Terms and Conditions of our clients.
Example 1
A Midlands client had bank charges of £14,000 per annum - these were backed up by transaction reports from the bank. Our analysis showed further charges of £3,500 imposed each quarter. Investigation showed that these were duplications, resulting in a refund of £14,000.
Example 2
A client in Scotland had a large amount of money invested in a High Interest Account. In attempting to reconcile the interest paid, we discovered that the rate had been reduced by 1% over a period of 6 months and then gone up again. The client had not been notified and had not noticed. On application to the bank, a refund of £45,000 was achieved.
Example 3
A client in the West of England had been notified of impending Bank Charge increases. He asked us to review these for reasonableness. Our experience in tendering in his sector enabled us to advise him on the current market level. When he re-negotiated with his bank, he received a reduction of £7,000 per annum, which amounted to 57% of the bank's anticipated new charges.
