BusinessCompany NewsHalifax denying itself good business

Halifax denying itself good business

Halifax is denying itself good business by snubbing small businesses that are heavily reliant on cash, according to Peter Mitchell, chairman of the Small Practitioners Association.

Last night the embarrased bank leaked staff training materials showing Halifax did not want ‘cash-heavy businesses,’ like taxi drivers or window cleaners, as customers of its new business operation.

Halifax said the service could not cope with customers wanting to deposit large quantities of money.

But, following the leak, Halifax said: ‘Hands up. It was a mistake. We do hope to solve the problem pretty soon.’

In response, Mitchell told Accountancy Age: ‘They are just denying themselves business which we have no reason to suspect is any worse than any other.’

But it is not really an issue for small businesses, he explained, because there is a reasonable range of other business resources, so when a client has difficulties finding a lender in one direction, accountants can point them towards other means of financing.

‘If all the other building societies and banks were doing this we would be in trouble,’ he warned.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

5m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

5m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

8m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor