Halifax denying itself good business

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.

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