With the rise of digital banks and the competitive landscape of financial services in Brazil, it has become almost standard for business owners to negotiate fees for their business accounts. After all, why pay for limited services that don’t add tangible value when digital alternatives are often free and more accessible?
This was my exact mindset when I decided to reach out to my traditional bank manager. I wanted to see if I could negotiate a fee exemption, considering the minimal services I was using. So I explained my perspective—why pay monthly fees when I barely utilize the bank’s offerings?
But then, something unexpected happened.
The Perspective of the Traditional Banker
Instead of the usual resistance, my bank manager listened carefully to my points and responded in a thoughtful manner. He acknowledged my concerns but shifted the conversation by highlighting the value proposition of a traditional bank beyond day-to-day transactions.
He explained that the monthly fee was more than just a cost—it represented access to a range of services that my business might not be using now, but could prove valuable in the future. These included access to credit for business expansion, a large portfolio of investment opportunities, hedging services for international transactions (a common activity in our line of business), and, perhaps most importantly, his advisory services and guidance.
His approach was not just about justifying the fee; it was about revealing hidden value. The kicker? He proposed an adjusted plan that better suited our current transaction volume. If our business’s transaction value increased by roughly 40%, we could see further reductions or even the possibility of completely waiving the fee.
Turning Costs into Opportunity
The discussion didn’t stop at fee reductions. As we delved deeper, he opened my eyes to the potential of leveraging our longstanding relationship with the bank to unlock new opportunities. One particular idea stood out—why not consider using our established credit line to finance an office purchase, thereby creating a new revenue stream for the company?
At this point, I realized something crucial: both of us were “right.” I was right to question the cost based on my current usage. He was right in showing the untapped value that a traditional bank could offer if I chose to utilize its full potential.
The Win-Win in Business Negotiations
The outcome was a favourable reduction in our monthly fee—around 30% less than what we were paying—with a clear path to further reductions. More importantly, it opened up a dialogue on strategically using our banking relationship to grow the business.
This experience is a reminder that, in negotiations, it’s not always about one side winning over the other. Sometimes, both parties are correct in their own realities. By staying open to dialogue and willing to explore different angles, it’s possible to arrive at solutions that benefit everyone involved.
Final Thoughts
As business owners, it’s easy to get stuck in the mindset of minimizing costs. But sometimes, listening to the other side can reveal opportunities to turn expenses into investments that drive long-term growth.
After all, the best negotiations aren’t about one side getting everything they want—they’re about finding ways for both sides to win.
