After confirming the structure / ownership of your business, we will help you to fill in any application forms that are needed, and support you in completing the ‘Know Your Client’ verification process, in line with regulatory requirements.
Seamless Switching Process
Moving your business banking doesn’t need to be daunting. Barclays provides dedicated support to ensure swift and seamless switching for every aspect of your business – no matter its size – enabling you to enjoy the benefits of working with Barclays from day one.
Moving you to us
Making switching to Barclays easy
Our team approach and integrated four-step process are designed to ensure minimal disruption to your business when you move to us. At the same time, it provides an opportunity for us to really get to know your business and how we can start to help you.
If I knew before what I know now, we would have looked at changing our bankers a long time ago. With a Barclays transition team supporting you, moving banks can be an entirely positive experience.
Head of Financial Control, Guide Dogs
Four easy steps
Your Relationship Director will act as your single point of contact, working with a dedicated Switching Team and Account Opening Team to make the transition as simple and swift as possible.
Your Relationship Director will undertake a detailed analysis of your business and consider the products and services we can offer to meet your needs, introducing you to our product specialists where appropriate.
Your dedicated Account Opening Team will handle all switching practicalities including:
- Setting up any standing orders and direct debits according to your instructions
- Authorising documents and petty cash mandates
- Requesting any available credit balance from your previous bank1
- Transferring funds to repay any overdraft at your previous bank1
- Establishing any borrowing requirements you may have.
¹Please note: These service levels do not apply if you are transferring a business current account with a secured overdraft.
Your Relationship Director will be in touch to let you know your account has been successfully opened and will provide all necessary details for you to start transacting.
Your team at Barclays
Our relationship approach
Once you become a client at Barclays, you’ll have a dedicated team that works together to understand your business and provide the support you need, when you need it.
Relationship Support Manager
Working very closely with your Relationship Director, your Relationship Support Manager can provide product knowledge and access to Barclays’ wider expertise.
As your strategic support, your Relationship Director provides financial and sector-specific expertise and has authority to progress activity on your behalf. He or she also provides a single-point of contact to the full capabilities of Barclays.
Client Service Team
Your Client Service Team is on hand to deal with all your day-to-day transactional banking enquiries quickly and efficiently.
It’s such a support knowing that we have this kind of relationship with our bank. Barclays have come to us and said ‘We really believe in Brora and we really believe in you and we want to support you wherever you’re going’. How good is that?
Founder & Creative Director, Brora
Having helped luxury UK cashmere brand Brora to execute an ambitious expansion strategy, Barclays continues to support the designer and retailer in a competitive market.
Know your customer: Keeping you safe from financial crime
Financial crime is a real and growing danger to banks and their customers, with more than £1 trillion estimated to be money laundered by criminals every year.2
For large-scale financial crime to succeed, monies need to flow through a financial institution such as Barclays, meaning that our customers can be a target. Through our rigorous and legally required Know Your Customer processes, we aim to prevent criminals from accessing and utilising our customers’ accounts.
‘Know Your Customer’ at Barclays
By understanding your business structure, which countries and third parties you deal with, and the banking services you use, we can assess your potential exposure to financial crime and help avoid it.
We have produced three guides to explain our Know Your Customer approach and what information and documentation we may require from you as part of this process:
2 United Nations Office on Drugs and Crime website – February 2016