BikeBiz Bicycle and cycling retail news
Words by the Association of Cycle Traders
Although it can be tempting for all of us to chase price driven deals, too often nowadays it ends in ultimate regret and the inevitable question “why did I bother?”
Every year we see new financial service providers popping up in the UK seeking to buy market share by undercutting the competition with an unsustainable product. This in itself isn’t a crime, but the limited income generated inevitably means that the service that comes with this kind of approach, can leave customers with a bad experience and often a hefty bill at the end of it all. Not to mention the wasted time a small business simply cannot afford.
The cycle trade has a long-standing relationship with HSBC Merchant Services who are the long established preferred card processing provider to the sector. So when retailer research in 2010 identified business banking as a key service to deliver who better to turn to than HSBC?
After all, The National Association of Cycle Traders has banked with HSBC for decades now. They are tried and tested with award winning credentials, are keen to offer preferential terms to ACT members and back that up with quality service from a network of over 1,500 branches in the UK.
ACT members who don’t currently bank with HSBC can benefit from 18 months free Business Banking and those already banking with HSBC can make significant savings (25 per cent discount off the HSBC standard tariff) simply by asking to be transferred to the ActSmart tariff.
It gets better too; the ActSmart tariff benefits from an extra five per cent discount for every 100 users, which means that the industry truly has a shared objective to get together and save costs.
If you are not already an ACT member switching to the ActSmart Business Banking scheme should fund your membership fee, whilst giving you access to a fast growing range of promotional and business services.
In addition to ActSmart’s preferential card processing and banking arrangements with HSBC, ActSmart are planning the launch of a gift card scheme throughout the sports and leisure market during 2011 and HSBC card processing will be pivotal to participating in the scheme.
For full details of how the scheme works visit www.actsmart.biz and see ‘Business Banking’ or contact ActSmart on 0845 618 7256 or info@actsmart.biz.
How much you could save?
Existing HSBC retail customer in York will save c£250 p.a. by making a phone call to request switching from the standard HSBC tariff to the ActSmart scheme.
A current Barclays retail customer in London will save c£700 in his first 18 months free banking period on the ActSmart scheme and has identified an ongoing saving of c40 per cent thereafter based upon his current tariff.
