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SME Account Maintenance and Transaction Fee Waiver

To help smaller business clients, we will be rolling out the following benefits:

  • Free account fees: We will not apply quarterly account maintenance fees for Business Current Account(s)
  • Free everyday banking: We will not apply fees for everyday banking transactions including cash, cheques, debit card and regular payments.

Please note, there will still be charges for using any service which are billed at the time of the transaction like CHAPS, SEPAs, International Payments and overdraft fees and interest.

For more information on the services and the usual fees, please see our tariff guide [PDF, 233KB] for businesses located within Jersey, Guernsey and Isle of Man.

Am I eligible for the benefits?

Any business client with an account (or several accounts) with annual credit turnover of up to and including £400k will be eligible.

Community Account holders will not be sent a communication as they already have free everyday banking.

Why have you decided to give benefits to businesses under £400k in turnover?

We are concentrating on our smaller businesses who need help through this period.

What if I need financial support like an overdraft or a loan?

We have a webpage which details further information. Please contact your Business Manager or read here for further information on support for businesses during COVID-19.

What do I do if I have an annual turnover above the £400k?

If you need support with banking and transaction fees, you should contact us in the usual way.

What do I do if I have an annual turnover under £400k and haven’t been included in the free charging period?

You should refer to your Business Banking Manager

How long does the free banking period last?

The benefits will waive all account maintenance and transaction fees for activity taking place between 2 March 2020 and 12 June 2020 to coincide with Barclays Business billing periods.

What happens after 12 June 2020?

From 12 June 2020, all published tariffs will apply. Charges and transactions will accrue for that period and be applied from September 2020.

How will I know what charges are free and what are charged for?

You can refer to your tariff on the rates and charges page for details. We will not apply fees for your everyday banking transactions including cash, cheques, debit card and electronic payments – those that typically appear on a Pre-Notification of charges statement (PNCS). Please note, there will still be charges for using any ‘at the time’ services which are billed at the time of the transaction like CHAPS, BIPS or SEPA payments.

Will I receive my usual quarterly Pre-Notification of charges statement (PNCS)?

Eligible business clients who do not have a pre-agreed overdraft, will not pay any pre-notified charges and therefore should not receive a PNCS during this three-month period.

Eligible business clients with an agreed overdraft, will still receive a PNCS if there is debit interest to be applied.