Barclays offers a range of business checking accounts to companies of all sizes in the UK including offering free initial banking for 12 months to some corporate clients. Below we take a look at reviews for the company along with the accounts they offer, how much they cost and other key things you need to know to help you decide which business bank account provider is right for your business.
Barclays Reviews
Below we take a look at reviews of the Bank of Scotland from a variety of websites. Please keep in mind that these reviews are for all Bank of Scotland services and therefore may not fully reflect their business offering.
Trustpliot: 1.5 out of 5 based on 4,639 reviews.
Review status: 1.3 out of 5 based on 352 reviews.
Reviews.co.uk: 1.43 out of 5 based on 396 reviews.
Barclays Business plans, packages and prices
Barclays offers a range of commercial bank accounts suitable for companies of most sizes including start-ups and those with turnover of up to £400,000 or between £400,000 and £6.5m.
Startup business accounts and small business bank accounts include:
- 12 months of free banking subject to eligibility (including account and transaction fees)
- 24/7 online account management
- mobile application
- Free billing feature on their app
- Access the Business Manager
Choice of two price plans – Mixed Payments Plan and Electronic Payments Plan.
The Mixed Payments plan is designed for businesses that use cash, checks, and other payments. The plan includes:
- Account fee £6 per month
- The fee for electronic payments is £0.35
- A cash-out fee of £0.90 for £100
- Check fee £0.65
- Free cash withdrawal from ATMs
The Electronic Payments Plan is designed for those who predominantly make and receive electronic payments. The plan includes:
- Account fee £6.50 per month
- Free electronic payments
- Cash payments are calculated at £1.50 for every £100
- Checks are charged at £1.50 per transaction
- Free cash withdrawal from ATMs
Plans, packages and pricing notes were all accurate at the time of publication but may have changed since then. Please check the Barclays website for the latest information.
Barclays History
The history of Barclays Bank dates back to 1690 when one of its founding banking companies began. The bank first began trading as Barclays and Co in 1896 when several banks merged and then expanded over several decades to become a nationwide bank. In the last century, Barclays has continued to grow as it has acquired more banks.
Barclays is a British banking provider that provides personal and small business banking services through its Retail Banking Services. It also provides banking services to companies and large institutions through corporate and investment banking services.
They offer a wide range of financial and banking services to companies and individuals which includes bank accounts, savings products, loans, mortgages, overdrafts and a variety of commercial loan products.
Switch to Barclays
Barclays offers a full or partial swap service if you are not ready to close your existing account. To switch your bank account, you will need to provide a three-year address history, all your business details including registration number, your personal details, and any financial arrangements you have such as mortgages, credit cards and loans.
Whichever path you choose, Barclays will take care of switching your bank account and take the hassle out for you. The switch can take place within seven working days and is backed by the Checking Account Exchange Guarantee.
Additional Business Services from Barclays
Barclays offers a variety of business banking and financing products, which include:
- Business credit cards
- Overdraft
- Loans
- Mortgages
- Asset financing
- Invoice financing
- International business support products
Availability of Barclays Business Service
Barclays offers business bank accounts to companies of most sizes up to £6.5m including start-ups. To be eligible for a business checking account, you must be over 18 years old, have the right to live in the UK and provide at least 12 months of history with a UK address.
Specific standards may also apply to some sectors including agriculture and social housing.
Barclays customer service and complaints
You can contact the Barclays Customer Service team on 0345 605 2345 (Mon-Fri 8am-9pm, Sat-Sun 8am-6pm). You can also contact them through the in-app chat function.
Barclays Business Contact
You can contact Barclays through:
- New Customer Accounts – 0800 515 462 (Monday – Friday 8am – 7pm)
- Existing Customers – 0345 605 2345 (Mon – Fri 8am – 9pm, Sat & Sun 8am – 6pm)
- In-app chat
- Live chat on site (Mon – Fri 9 am – 5 pm)
- Contact form
Post – 1 Churchill Place, London E14 5HL
Website: www.barclays.co.uk/business-banking/accounts/
Pros / Cons of Barclays Business Services
Pros
- Offers branch and van banking network
- Access your bank account through Post Office Banking
- The Customer Service Center is available evenings and weekends
- Choose a pricing plan
Cons
- Lots of bad customer reviews
- Currently in the process of closing a lot of branches