BB&T and Suntrust Bank recently announced plans for a merger. What does this mean for customers? Bank mergers are great for the banks, but generally, the customer pays the price of the merger both operationally and financially.
In the short run, you may lose your favorite banker or your local branch may close. Moreover, customers should NOT expect better pricing and lower fees on bank accounts, since a merged bank will typically have more market share, reducing the need to compete on rates.
SIB Fixed Cost Reduction has a proven track record of significantly reducing our clients’ bank fees without changing banks. We lock in these rates and continually monitor our clients’ savings for several years — in this case, ensuring your newly negotiated rates stay in place throughout and beyond the merger. There is NO COST unless we save you money.
Contact us if you’re interested in reducing your bank fees — regardless of who you bank with.
There is hardly a company in the world that isn’t under continuous pressure to reduce or minimize costs while simultaneously striving for growth. Executives feel it. Purchasing departments feel it. Managers and even entry-level staff can feel it. The continual drive to do more with less has resulted in various techniques that look like good solutions, but they can be very difficult to accomplish, and at best only deliver a fraction of what a company’s total savings could be.
