Around the world, entrepreneurs are generating a massive amount of economic growth, but they tend to have a love-hate relationship with banks. Each entrepreneur will have their reason for this, but many find that as a result of the more modest amount of capital and transactions that they offer, banks don’t tend to treat them as well as they deserve.

However, as an entrepreneur, you need to work with a bank that recognizes the opportunities that your company has and values your business. If you are unhappy with your current bank and have been saying “enough is enough,” then this summer might be your time to move your business somewhere else.

Here are three scenarios wherein entrepreneurs should change banks.

1. You aren’t receiving high-quality personalized service.

As an entrepreneur, the relationship you form with your bank manager is of crucial importance. From the beginning, you want to ensure that you are building a strong foundation with them as they are the individual who can significantly help you achieve your business goals.

They should assist you in securing required financing through a business loan in the UAE, helping you to apply for a personal or business credit card, and certifying that you are safeguarding your assets.

For you to have a beneficial relationship with your bank manager, you need to be honest and open with the state of affairs on your end. But, they also need to be invested in overseeing you, encouraging you, and assisting you in every way they can.

If you get the sense that you and your business are not a top priority for your bank and that you are missing out on personalized service, then you should change banks to find a team who will make it their mission to support you in achieving your goals. You merit a banker that is prepared to sit and speak with you about your business plan to understand the business you are running.

2. You are paying too many extra fees.

As an entrepreneur and business owner, money is always on your mind. Banks are continually trying to attract new clients by offering better deals. Even if you don’t think you necessarily need to change banks, you should still always keep an eye out for superior offerings.

However, if you find yourself frequently paying too many extra fees (for things such as maintenance, overdrafts, bounced checks, etc.), then you should certainly look for a better option as these fees are only going to continue to expand.

Many banks are rolling out specific plans for entrepreneurs, so look for one that offers inexpensive checking accounts, unlimited monthly transactions, and a small business lending capacity (if necessary).

3. You encounter an unexpected change in financing terms.

Trust on both sides is essential for beneficial banking, so if your bank abruptly changes your financing terms, there is a problem. In fact, many entrepreneurs have seen banks cut their credit line, decrease their available line of credit or raise their interest rates unexpectedly.

Whether the bank provided you with a reason or not (some don’t explain while others claim that the firms have become riskier or banking standards have been raised), you shouldn’t be with a bank that you can’t depend on.

When looking for a new bank to work with, make sure you read all of the fine print to see if there is anything that implies the bank can modify your financing terms due to “changing market risk.”

Many entrepreneurs prefer to work with smaller banks as they are often more focused on providing a robust online offering (necessary if you travel frequently or are always out of the office) and have more time and energy to care about their clients than the bigger banks.

Before you decide on a bank to change to, spend some time researching potential options for small & medium enterprise banking and speak with other entrepreneurs to hear about their recommendations. Obviously, it can be a nuisance to switch banks, but when it comes to growing your business as efficiently as possible, then it is indeed worth it.