TSB: Unveils support for SME suppliers
- Announced it ensure that all of its smallest suppliers be paid within just 10 days of invoicing the bank
- The move apply to all companies that supply goods and services to the bank even if the contract allows it to pay
- While TSB is already one of the leading financial services businesses for prompt payment
- TSB has also pledged to write a 30 day guarantee into all supplier contracts going forward
- Alongside ensuring prompt payment TSB is reaching out to all small suppliers to discuss specific challenges they face
- The pledge developed in 2019 in conjunction with stakeholders including Federation of Small Business
