Danske Bank Invoice Finance User Reviews
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Danske Bank is a Danish bank that operates in the UK as Danske Bank UK. The UK base is in Northern Ireland where they were first established in 1824 under the name Northern Bank. They have branches throughout Northern Ireland only and they provide a range of personal and business banking services. The business services they offer include bank accounts, overdrafts, loans, credit cards and invoice finance.
Danske Bank Invoice Finance Options
Danske Bank offers both invoice factoring and invoice discounting solutions which allow businesses to increase their working capital by getting an advance on their unpaid sales invoices. They provide customised solutions that are tailored to your business needs. The solution includes:
- Funding up to 85% of invoice values
- Online system to load your invoices to release
- Funds can be released the same day
- Repayment is made when the customer pays the invoice
Invoice discounting is a confidential service that allows you to maintain control of your credit services and keep the involvement of the service confidential from your customers.
Invoice factoring provides an invoice finance service that includes managing your credit control service such as managing outstanding invoices. This is a disclosed service and your customers may become aware of their involvement.
Danske Bank Invoice Finance Eligibility
Danske Bank provides lending to individuals who are 18 or over and lending criteria applies. They require you to open a business current account with them to access their invoice finance products and assign your invoices to them as well as provide Personal Indemnities.
Danske Bank Invoice Finance Rates
An assessment of individual circumstances will determine the rate and term offered, and therefore rates are not advertised on their website as they are not standardised.
Danske Bank Invoice Finance Calculator
Danske Bank does not offer an invoice finance calculator.
Danske Bank Invoice Finance Reviews
Danske Bank doesn’t feature on many of the popular review sites and the 2 it does feature on don’t have many reviews. The reviews are a mixture of personal and business reviews too.
Trustpilot only has 10 reviews with most reviews being fairly negative which skews the figures somewhat. 70% of reviewers rated Danske Bank as bad with comments including poor in-branch service, high fees and outdated app. The couple of positive reviews commented that branch staff were supportive, provide helpful business support and online banking was convenient.
Smart Money People reviews were more positive, and the review comments were similar to the positive comments on Trustpilot plus they said that they offer good rates and great security.
How To Apply For A Danske Bank Invoice Finance?
If you want to find out more or apply for invoice finance you can contact Danke Bank on 07764 283389.
- Offers both invoice factoring and discounting solutions
- Experienced provider of invoice finance products
- Provides a range of other financial products
- Eligibility criteria is not clear and the rates are not available
- Only funds up to 85% of invoice values when most offer up to 90%
- Requires you to open up a business bank account
- Customer reviews are very mixed with some very negative
Website: Danske Bank Invoice Finance