Our office hours over the Christmas and New Year period will be as follows:
|December 23rd: 9am to 1pm, office closed in the afternoon||December 24th to December 27th – office closed|
|December 28th to December 30th: 9am to 5:30pm||December 31st to January 02nd – office closed|
|January 03rd 2017 onwards – 9am to 5:30pm|
At Balmoral Financial we understand the importance of your employees' wellbeing. We work closely with employers to promote financial education, using innovative tools and products, with the aim of reducing the financial stress that employees often find themselves under.
Financial worries can impact a company’s bottom line because employees under financial pressure spend more time worrying about their finances and less time focusing on their work.
Balmoral Financial provides an innovative, all-in-one, solution to help your employees get a better handle on their finances. We offer a finance tracking solution and access to competitive credit.
We work closely with employers to identify which of our solutions are the right ones for their staff. Working with your HR and benefits team we can tailor our products to add real value to your staff and ultimately to your business. We are fully regulated by the Financial Conduct Authority and, below, you can find out about the core services we can offer your employees.
BalmoralTracker is a finance tracking solution that allows individuals to take a rounded, holistic view of their finances to see how and where they are spending or saving money.
This solution helps an individual make decisions on how to improve their financial position, better-educating them on their spending behaviour and money management.
BalmoralReserve will be akin to an overdraft. It can be easy to think of your overdraft as a spending limit, but it should only be used for emergencies or short-term borrowing.
This will act as a safety net, giving individuals access to a small amount of credit to help them overcome financial emergencies.
BalmoralSavings is a savings account designed to encourage employees to save as much as they can afford each month. With the flexibility of an instant savings account, individuals will have automatic access to their money.
BalmoralLoan will provide instalment loans with an affordable, fair-priced lending rate for employees wishing to make important or large purchases, such as home improvements, a car, white goods or consolidation of existing debt. Affordability is at the heart of this product and Balmoral Financial will not provide credit to an employee where there is a risk of the employee getting into financial difficulty. We offer these products directly to staff with no liability on or guarantee being needed from the employer.
No financial risk or liability to employers
Products tailored to your employees
Promote positive financial wellbeing
A range of services designed to improve financial habits
Zero costs to employers
Fully regulated by the FCA
Did you know?
Employees often face financial difficulties which their employer is unaware of. This can significantly impact happiness, health and productivity.
40% of employees have only one month's savings to fall back on in emergencies.
High cost borrowing is prevalent in workforces across the UK and high interest rates often lead to an individual getting into more financial difficulty. Such additional financial problems affect health and wellbeing and it is estimated that employees miss one week of work a year because of this stress.
According to the Health and Safety Executive, nearly 10,000,000 working days a year are lost to stress and anxiety. Further, presenteeism is now growing faster than ever and research done by the UK's Houses of Parliament show that the cost to British businesses of presenteeism is over £15bn a year.
Working with Balmoral Financial couldn’t be simpler. There are no hidden costs for employers and an employer is never liable for any commitments a member of staff makes with Balmoral Financial. Our on-boarding team works closely with you to better understand your employee demographic and tailors our services to meet the need of your employees.
In order to access all of our financial products, employees must request that the employer deducts repayments from their salary, which will be passed directly to Balmoral Financial.
Employer signs up with Balmoral, ensuring data protection and DPA/ICO compliance
Coordinate with HR & Benefits Managers
Balmoral works with HR team to determine best way to arrange for employee salary deductions
Balmoral assists employer in providing promotional material in line with FCA regulations
Staff sign up
Staff sign up for Balmoral Financial's finance tracking solution and start to improve their financial wellbeing
Agree admin & compliance
Employer signs an agreement stipulating how compliance and administration processes lie with Balmoral Financial
Balmoral Financial provides publicity material as needed