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Strategy

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Preparing for ring-fencing
About us

Private Bank & Overseas Services

Which part of Barclays am I in?

Barclays has separated the Wealth and Investment Management business into two distinct businesses:

  • Wealth & Investments, which is part of the UK ring-fenced bank, Barclays Bank UK PLC (BBUKPLC), focusing on financial products and services to UK clients. This business includes our Wealth Management and Private Clients offerings and will also include Smart Investor later this year
  • Private Bank & Overseas Services, which remains part of Barclays Bank PLC, offering eligible UK clients and international clients a broader range of financial products and services

Clients with accounts in the UK are part of the ring-fenced bank and its subsidiaries unless we have communicated with you that you qualify to remain a client of Barclays Bank PLC and, where we have asked you to take action to confirm eligibility, you have done so. We expect clients of our Smart Investor proposition will be serviced by Barclays Bank UK PLC and its subsidiaries later this year. Until this time, Smart Investor services will continue to be provided by Barclays Bank PLC.

Clients with accounts outside the UK (including in Switzerland, Monaco, India, Jersey, Guernsey and Isle of Man) continue to have access to the same breadth of products and services offered by Barclays Bank PLC and its subsidiaries and are not part of the ring-fenced bank.

How does this affect me since I was not transferred to the ring-fenced bank?

If you are a Private Bank or International Banking client you are a client of Barclays Bank PLC and/or its subsidiaries. You continue to have access to the same breadth of products and services offered by Barclays Bank PLC and its subsidiaries, as you did previously.

What does it mean if I have transferred to the ring-fenced bank?

Private Bank and International Banking clients have not transferred to the ring-fenced bank and remain clients of Barclays Bank PLC and/or its subsidiaries. If you are among the limited number of clients of Barclays Bank PLC and its subsidiaries whose product offering has changed, you will have received a separate communication.

  • Certain Terms and Conditions have changed, principally to ensure that our customer and client contractual relationships continue to work in light of our new structure, and to comply with ring-fencing requirements. If your Terms and Conditions have changed we will have already communicated this to you.

  • If you were eligible for protection under the Financial Services Compensation Scheme (FSCS) Deposit Protection Scheme before the implementation of ring-fencing, your money is still eligible for protection today.

    The FSCS, the independent deposit protection scheme for the UK, is in place to pay compensation to depositors if a bank is unable to meet its financial obligations.

    The FSCS protection limit is £85,000 per depositor per bank. For joint accounts, the limit of £85,000 applies to each depositor separately. Barclays Bank PLC and Barclays’ ring-fenced bank are separate banks for the purposes of FSCS protection. You can find further information at barclays.co.uk/fscslimit.

    Deposits made with Barclays Bank PLC, Isle of Man Branch are covered by the Isle of Man's Depositors' Compensation Scheme (DCS) detailed in the Depositors’ Compensation Regulations 2010.

    Barclays Bank PLC is a participant in the Jersey Banking Depositor Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details of the Scheme and banking groups covered are available on the States of Jersey website at www.gov.je/Industry/Finance/DepositProtection or on request.

    Barclays Bank PLC, Guernsey Branch is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details are available on the Scheme’s website www.dcs.gg or on request.

  • The way in which we handle your personal data, including your account details and contact information, as well as the purpose for holding it and way it is used, will remain as set out in your customer agreement or other product or service documentation. We will be under the same obligation to uphold your data protection rights and to keep personal data secure.

    Your personal data may be shared between our ring-fenced bank (Barclays Bank UK PLC), Barclays Bank PLC, their respective subsidiaries and other parts of the Barclays Group.

We’ve made changes to some UK sort codes

If you have a change to your sort code, we will already have communicated with you.

Information for individuals receiving banking services from Barclays

Key information about the business activities of Barclays Bank PLC following ring-fencing

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