Bank Invoice Finance Providers – are they all the same?

I often listen to people discussing whether they should use a bank owned invoice finance provider or an independent provider.

Certainly among the independent providers there is a wide variety of products, credit appetite and service levels. But what about the bank owned factoring companies?

Well they are similar in that they mainly target their own banks banking clients. Some target non bank customers more than others. In terms of service levels it would be fair to say that it can vary from client manager to client manager and regional office to regional office never mind bank to bank. Pricing can also differ dramatically between the banks.

The short answer is that the banks do differ dramatically and depending on your requirement the likelihood is one bank will be better suited than another.

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