Conducting international business with multiple banking relationships and lines of credit can complicate operations and add unnecessary costs, among other issues. Unfortunately, this may be your only option if you currently work with a bank that has limited international capabilities or that can no longer support your financing needs for the business you do abroad. Houston CPA firm Doeren Mayhew offer these signs that you may be outgrowing your bank:

  • You work with different banks internationally and domestically
  • You maintain various operating bank accounts and lines of credit
  • Your multiple financial accounts have created an additional workload for your CFO or controller
  • Your local bank cannot support operations outside the United States
  • You have exhausted your line of credit with your current bank
  • You are paying higher-than-average interest rates

If you are experiencing such signs, it may be time to consolidate your multiple relationships into one with a bank that better suits your international needs. To explore banking partners or to discuss your banking options, contact our Houston CPA firm.