Double click here to edit Header component
Signpost is empty.Double click here to edit it in Header component

Strategy

Hub Hero
Parsys 1
Preparing for ring-fencing
About us

Preparing for ring-fencing

We’re changing the way we structure our organisation to make it simpler and prepare for UK ring-fencing requirements.

Why we’re making a change

We’ve made great progress in simplifying and strengthening Barclays over the last few years, and today we’re as strong as ever.

As the financial services industry continues to change, we’re working hard to ensure that our structure is right for the future. To do this, we’ll be separating our banking activities into two legal entities – both still very much part of Barclays. This is called ‘ring-fencing’.

Ring-fencing of retail banking is one of a number of important reforms brought in by the government to strengthen our financial system following the financial crisis that began in 2008.

The aim of ring-fencing is to make sure the larger UK high street banks separate their retail banking activity from the rest of their business. It will require banking products and services like savings accounts, current accounts and payments to be separated from more complex products like derivatives, and from activities that are conducted in locations and markets outside the UK and European economic area.

By 1 January 2019, our new ring-fenced legal entity will offer everyday business and personal banking services in the UK, while products and services designed for our larger corporate, wholesale and international banking clients will continue to be offered by Barclays Bank PLC and its group of companies.

What’s not changing

We’re keeping it simple

We’re doing everything we can to make this transition as smooth as possible for you. We’ll keep you updated and let you know if there’s anything you need to do.

Banking the way you’re used to

The majority of customers will continue to have access to the same products and services they have now and be able to keep banking the way they’re used to – online, using our Barclays Mobile Banking app, over the phone and in-branch.

Your terms and conditions

Besides the name of the legal entity changing for customers moving to our ring-fenced entity, we expect the terms and conditions will stay the same for most of our products and services. If we do change anything, we’ll be in touch to let you know.

Depositor Protection Scheme

If your money is eligible for protection today under the UK FSCS Depositor Protection Scheme, ring-fencing won’t change that.

For our suppliers

Barclays’ suppliers and landlords play a critical role in enabling us to deliver services to our customers and operate effectively as a bank. This will continue to be the case in Barclays future ring-fenced structure. We will be in contact with our suppliers to provide further information about what Barclays ring-fencing will involve for them.

Where to go for more information

We’ll continue to update this page with more information on our plans, and what they mean for you.

The Financial Conduct Authority (FCA) has also published their own site explaining more about ring-fencing. 

Find out more at the FCA siteFind out more at the FCA site (new window)
Parsys 2
Parsys 3
Parsys 4
Parsys 5
Parsys 6
Parsys 7
Parsys 8
Parsys 9
Parsys 10
Parsys11
Parsys 12