Banking Flat Fee: How to Enter Into Qualified Negotiation

Do you receive a fee for each bank transaction? Similar to how each telephone call used to be listed individually on the bill? There is a way out of this problem: flat-rate bank fees!

The most important idea is: don't expect bank fees to become cheaper than before.

The key to saving time and money is on the business side! The amount of time accounting departments spend reviewing bank fees and eliminating discrepancies is enormous. A Tomato client once said that most of the errors at his 30 banks to the detriment of companies - amount to EUR 60-80,000 annually. For this amount it is worthwhile to hire a workforce.

In 2022 we cooperated in several cases for flat bank fees: To save on bank fees, they proceed thus:

1. Ask your bank representative in nice good demanding style if flat fees are possible.
2. If yes, check on your side the number of transactions for payments, guarantees, currency transactions, etc.
   The bank does the same on their side
3. Meet with the bank representative and negotiate the bank fees for the next year based on the past.
   Agree with the bank on a time interval for recurring billing of flat fees: monthly or quarterly.
4. One year later, repeat the process in point 2 and renegotiate the bank fees.
5. The company's accountants and employees can rely on the debit notices for the flat fee. Since they know the negotiated amount from the CFO or finance department, they no longer need to check with the bank.
6. Meet with the bank once a year to negotiate fees based on the previous year's transactions.

Report your results or ask us for your desired procedure!
martin.schneider@tomato.ch or +41 44 814 2001