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Personal and Premier Banking

Which part of Barclays will I be in?

Subject to the court’s approval all Retail (including Premier Banking and Mortgage) customers of Barclays Bank PLC whose products and services are held in the UK, will be transferred to the ring-fenced bank.

Most customers and clients will continue to have access to the same products and services they have now, and will be able to keep banking the way they’re used to, via online or mobile banking, over the phone, in branch or via your relationship manager. If your banking arrangements are affected, we’ll contact you.

Some customers may find that they have accounts with both banks (Barclays Bank PLC and the ring-fenced bank). For example, a Managing Director could have a Corporate relationship and products that remain in Barclays Bank PLC, although, their personal current account would move to the new ring-fenced bank.  If, in the future, you will have accounts across both Barclays Bank PLC and the ring-fenced bank, we may contact you about ring-fencing more than once to explain the changes. 

Changes to using your UK accounts in the Jersey, Guernsey and Isle of Man branches from April 2018

To ensure Barclays aligns with the new ring-fencing legislation, some of the services that are currently available to you today in our Jersey, Guernsey or the Isle of Man (the “Crown Dependencies”) branches will no longer be available. Once ring-fencing takes place in April 2018 these branches will remain in Barclays Bank PLC as they are located outside of the UK. If you use these branches after April 2018, unfortunately you will no longer be able to use the counter service for transactions such as withdrawing or depositing cash or cheques.

However, you will still be able to use any UK branches for these transactions and will still be able to withdraw money at any Barclays cash machine including those in the Crown Dependencies, when using a Barclays debit card up to your usual withdrawal limits.

You may also be eligible to open an account held at one of the Crown Dependency branches, which would then allow you to continue to make full use of these services. Please see the link below for further information.

How does this affect me if my accounts are not transferring to the ring-fenced bank?

There should be no changes to your banking arrangements. Customers who also hold non UK Retail accounts or who live outside of the European Economic Area (including Jersey, Guernsey and Isle of Man) will continue to have access to the same products and services offered by Barclays Bank PLC and its subsidiaries, as they do today.

How does this affect me if I am transferring to the ring-fenced bank?

You do not need to take any action unless we contact you.  If you are affected by the changes, we’ll tell you how, when the changes take place and whether you need to do anything further.  Please visit the following links to find out more:

Restrictions on Transfer and Court Orders

Where accounts that would otherwise transfer to the ring-fenced bank are held by customers who are subject to an asset freeze under any applicable sanctions regulation, or where they cannot be lawfully transferred for any other reason, the relevant accounts will be retained by BBPLC until the transfer can be lawfully made.

Where accounts that are transferring to the ring-fenced bank are the subject of a Court order imposing restrictions upon them (such as a freezing order), the items will be transferred to the ring-fenced bank as intended, but they will continue to be subject to the same restrictions under the relevant order after the transfer as applied immediately before the transfer. If your account is subject to a Court order, the terms and conditions of the Court order will remain in place. Please refer to the terms and conditions of your Court order for details of what activities are allowed on your account.

  • Certain Terms and Conditions will need to change, 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. Examples of this include:

    • Changing references from Barclays Bank PLC to the new name of our ring-fenced bank;
    • If necessary, changes to confirm that your data may be shared between our ring-fenced bank, Barclays Bank PLC, their respective subsidiaries and other parts of the Barclays Group. For more information about personal data specifically, please refer to “Will the change affect how you use and share my personal data?” below; and
    • If necessary, changes to ensure existing bank rights are preserved with respect to set-off and rights of deduction on transfer from Barclays Bank PLC to our ring-fenced bank.
  • If your money is eligible for protection today under the UK Financial Services Compensation Scheme (FSCS) Deposit Protection Scheme, ring-fencing won’t change that.

    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 will be separate banks for the purposes of FSCS protection. You can find further information at barclays.co.uk/fscslimit.

  • Barclays’ new ring-fenced bank will be issued with a new Bank Identification Code (BIC).

    If you are transferring to our ring-fenced bank, your International Bank Account Number (IBAN) will also change, as the IBAN contains the BIC.

    This will only affect you if you receive international payments to your account. You can find out what your IBAN is at any time by visiting www.barclays.co.uk and searching ‘IBAN’ then using the ‘IBAN generator tool’.

    After the change, we will redirect any incoming payments that use your old IBAN for a period of 36 months. This is to make sure you have plenty of time to tell anyone who makes international payments to you about your new IBAN. To avoid potential delays, however, we encourage you to make arrangements as soon as possible. If necessary, we will contact you again towards the end of the redirection period to remind you to tell anyone paying you money that your IBAN has changed.

    We will contact you separately if your sort code is also changing.

  • Will ring-fencing affect my tax position?

    There will be no changes in tax position as a result of ring-fencing for customers and clients who remain fully served by Barclays Bank PLC (BB PLC).

    In all other cases e.g. customers and clients moving to our ring-fenced bank or customers and clients who remain served by BB PLC, but with one or more product/service moving to the ring-fenced bank, we do not believe these changes will impact your tax position. However, as Barclays does not provide tax advice, we suggest you speak to a tax advisor.

  • Changes when using UK accounts in the Crown Dependencies

    From April 2018, personal and business accounts held by the ring-fenced bank will only be serviced by UK branches, this is to ensure we align with ring-fencing legislation.

    We are contacting customers who hold personal and business accounts and may use Barclays branches in the Crown Dependencies, to let them know that some of the services that are currently available today, will no longer be available from April 2018.

    What are the Crown Dependencies?

    The Crown Dependencies are the Bailiwick of Jersey, the Bailiwick of Guernsey (which includes the jurisdictions of Guernsey, Alderney and Sark) and the Isle of Man. The Crown Dependencies are not part of the UK but are self-governing dependencies of the Crown. Barclays has branches in Jersey, Guernsey and the Isle of Man.

    Why are we making these changes?

    Once ring-fencing takes place in April 2018 the Crown Dependency branches will remain in Barclays Bank PLC as they are located outside of the UK. Legal changes mean that the largest UK banks need to separate certain retail and business banking services, like savings accounts, current accounts and payments, from more complex wholesale and international banking operations (which includes the Crown Dependencies). 

    Our new ring-fenced bank will be separate from Barclays Bank PLC. Both banks will operate alongside, but independently from, one another as part of the Barclays Group under the listed entity, Barclays PLC.

    Which services will be impacted? 

    You will no longer be able to use the counter service at any of the Barclays branches in Crown Dependencies for transactions such as withdrawing or depositing cash or cheques, except for when paying a charity / disaster appeal credit over the counter.

    You can continue to withdraw money at any Barclays cash machine, including those in Jersey, Guernsey and Isle of Man using a Barclays debit card, up to your usual withdrawal limits. However, if you use a savings cash card, unfortunately you will not be able to use this in the Crown Dependencies. 

    For the other service transactions that will be restricted in the Crown Dependencies, such as transferring money/paying bills, customers can continue to use other channels including phone, online or visiting any UK branch.

    This does not affect your terms and conditions with us.

    Are there any alternative arrangements in place?

    You may be eligible to open an account held at one of the Crown Dependency branches, especially if you live in the Crown Dependencies, which would allow you to continue to make full use of the services in these branches. If this is something you would like to discuss, please visit any of the branches in the Crown Dependencies.

    What to do if you think you may be affected by this change?

    If you think that you may be adversely affected by these changes, you have the right to object to the ring-fencing transfer scheme and to have your objection heard by the Court. For further details, including any changes to the Court date, the means by which you can object to the scheme, a summary of the scheme and a report on the impacts of the scheme from the Skilled Person who has been approved to carry out this role by our regulators, please contact us via your usual point of contact at Barclays or refer to the following link.

  • The ISA Manager for Cash ISAs is currently Barclays Bank PLC; the name and address of the ISA Manager for these accounts will change to Barclays Bank UK PLC, 1 Churchill Place, London, E14 5HP.

    This change doesn’t affect the way cash ISA accounts work; account details will remain the same and you can continue to use them as normal.

    However, if as a result of this change if you decide you would prefer to move your ISA to an alternative provider, it’s important that you talk to your chosen ISA provider first. They’ll be able to arrange the move directly with us so that your savings keep their tax free status. If you would like to move your cash ISA to a new provider before the change of your ISA Manager to Barclays Bank UK PLC, we will need to receive this instruction from your chosen provider by 16 March 2018 although under the HM Revenue & Customs ISA rules you can request to move at any time. Please note that if you decide to transfer your Flexible Cash ISA, before the account maturity date then a charge will apply. We would be sorry to see you go, so if this is something you are thinking about please do contact us first.

  • Barclays Bank Base Rate is a reference rate, set by Barclays Bank PLC, which Barclays uses for a range of products. The ring-fenced bank will no longer refer to Barclays Bank Base Rate and will in the future use the rate set by the Bank of England, the Bank of England Base Rate, or in the event that the Bank of England Base Rate no longer exists, such replacement rate as the ring-fenced bank may specify.

    As a result, when customer accounts in Sterling transfer to the ring-fenced bank in April 2018, if there is a reference to Barclays Bank Base Rate, that reference will be replaced with a reference to the Bank of England Base Rate.
    Barclays Bank Base Rate tracks the Bank of England Base Rate, but is not always guaranteed to do so. However, Barclays Bank Base Rate has been the same as the Bank of England Base Rate for many years.

    Barclays Bank Base Rate will still be used by Barclays Bank PLC.

  • Barclays' approach to UK ring-fencing incorporates our objective to maintain solid investment grade credit ratings both before and after structural reform. We intend to create as much stability in the ratings of Barclays PLC, Barclays Bank PLC and Barclays’ ring-fenced bank as we can.

    More information on credit ratings

  • Although the Barclays entity with which you have a relationship may be changing, 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. In particular, we will be under the same obligation to uphold your data protection rights and to keep personal data secure.

    After the change, your personal data may be shared between our ring-fenced bank, Barclays Bank PLC, their respective subsidiaries and other parts of the Barclays Group. We have clarified in the ring-fencing transfer scheme that we are able to share your personal data in this way and any changes will be deemed to be made to our agreements with you, only where it is necessary.

  • Certain liabilities of Barclays Bank PLC relating to the business that is being transferred to the ring-fenced bank will transfer to the ring-fenced bank. These include any liabilities in relation to products moving to the ring-fenced bank under the ring-fencing transfer scheme, the sale of payment protection insurance to any UK customers of Barclays Bank PLC and the sale of interest rate hedging products which are linked to products (such as loans) transferring to the ring-fenced bank.

    Any ongoing or future proceedings (including claims or complaints before any court, governmental or regulatory authority or ombudsman (including the UK Financial Services Ombudsman)) being brought by or against Barclays Bank PLC in respect of the business that is being transferred to the ring-fenced bank will be transferred to the ring-fenced bank (in respect of liabilities transferring to the ring-fenced bank or the business being transferred to the ring-fenced bank).

Separately, you may already have been notified that your sort code has been, or will be, changed prior to ring-fencing. See below for further information.

We’re making changes to some sort codes

To align with the ring-fencing legislation, the sort codes for a small proportion of our customers will need to change before the end of January 2018. This is to ensure their accounts can be held in our new ring-fenced bank. We will contact you individually if you are affected by this. Your account numbers will remain the same and we’ll make sure that any payments continue to reach your new sort code.

  • A UK industry standard dictates that a sort code can only ever be linked to a single banking entity. This has an impact on Barclays as it means clients in Barclays Bank PLC  cannot share the same sort code as customers in the ring-fenced bank.

    At the moment some sort codes are ‘mixed’ meaning they’re currently used by customers who’ll remain with Barclays Bank Plc and customers’ who’ll be moving to our ring-fenced bank.  This means there’ll be a requirement to change impacted customers’ sort codes before we complete the transfer.

    We have worked hard to minimise the impact of this for customers. We will be managing the majority of the changes on customers’ behalf and will be providing guidance and support to explain what is happening and what affected customers need to do. 

  • What’s a sort code? 

    A sort code is a six-digit number that’s used to help identify your account. It’s often written with three pairs of digits separated by dashes.

    Does this mean I won’t have a bank branch anymore?

    We used to have specific sort codes that related to branches, but this isn’t the case anymore. You can keep using any of our branches, regardless of what your sort code is.

    What’s an IBAN?

    An IBAN is an International Bank Account Number. When a sort code changes, the IBAN on the affected account will also change. This will only affect you if you receive international payments. You can find out what your IBAN is at any time by visiting www.barclays.co.uk and searching on ‘IBAN’, then using the ‘IBAN tool’ to generate your IBAN.

    Why is the sort code on my account changing, have I been chosen for a specific reason?

    No. The decision as to which accounts are affected was made to align with the ring-fencing legislation and minimise the impact to customers.

  • Will payments into my account still be made correctly?

    When the change takes place, we’ll redirect incoming payments (including international payments) that use the old sort code or IBAN to your new sort code for a period of 36 months, and we’ll contact anyone that pays you money to ask to update their records for future payments e.g. salary, wages, pension or benefits. We may be in touch again during the redirection period if we notice that companies/individuals have not updated their records, asking you to inform them of your new sort code.

    Will payments out of my account still be made correctly?

    Any existing standing orders instructions going out of your account will be updated with your new sort code to ensure there’s no interruption to your banking. We’ll also inform any recipients of existing Direct Debit instructions going out of your account e.g. gas or electricity bills, TV Licence, Council Tax, etc. of your new sort code details. We can’t guarantee Direct Debit recipients always update their records, so we’ll also re-direct these payments for 36 months to ensure your banking continues without any interruption. If we find that Direct Debit recipients still haven’t updated their records towards the end of the redirection period, then we’ll write to you again asking you to contact them and let them know you have a new sort code.

     

  • Will my access to Barclays Online Banking differ following my sort code change?

    Changes to your sort code won’t affect your ability to access Barclays Online Banking.

    When logging in with a ‘Remember me’ function, you’ll be asked to update the old details if you’ve previously used your old sort code to log in. You’ll also notice that your new sort code will be displayed. All other details will remain the same, including the account names if these have been personalised, as well as saved payees.

    You’ll still be able to use your existing debit/cash/Authentication card until your new replacement card arrives and you start using it. Your existing sort code and account number can continue to be used, however once you receive your new sort code please start to use that.

    Will my access to Barclays Mobile Banking and Pingit differ following my sort code change?

    These changes won’t affect Barclays Mobile Banking or Pingit. You’ll continue to be registered and use the same five-digit access code.

    The new sort code will be displayed on your Barclays Mobile Banking, should you select your account. Saved payees will also remain listed.

    What will happen if I add the old sort code details of someone I’m making a group payment to using Barclays Online Banking?

    When setting up a new group payment where one of the payees is a Barclays customer whose sort code has changed due to ring-fencing, you’ll see the following notification:

    ‘The sort code of the account you entered has changed. We have corrected the payee details to use the new sort code.’

    The new sort code will display and the group payment can then be processed.

  • Will my statements look any different?

    Your statements will look the same. However, after the change has taken place, your new sort code and IBAN (International Bank Account Number) will be printed on future statements.

    Can I still see transactions from my ‘old’ sort code?

    You can continue to access your account. You’ll be able to view transactions on both your old and new sort code.

    Will my statement preferences change as a result of this change?

    Your statement preferences, for example, frequency, online/paper format won’t be affected as a result of the sort code change.

  • What correspondence will I receive to keep me up to date with what’s happening?

    We’re committed to keeping you up to date. The timeline below shows the communications you’re due to receive to help guide you through the changes:

    All letters issued will be available in your CloudIt. You can view all your letters relating to your sort code change using the key names/tags: sort code, SRP, Structural Reform, Ring Fencing, IBAN.

    I have accounts with various sort codes, will I be notified of all the changes at the same time?

    If you have impacted accounts across different sort codes, you may receive multiple communications as the changes may happen at different times.

  • What will happen if a payment is made to my old sort code?

    If you pay in cheques or cash, at a self-service device or counter, using your old sort code the payment will be re-directed to the new sort code. There won’t be any delays in the payment being credited.

    If a payment has been made from a Barclays customer to your old sort code, the payment details will be updated automatically to the new sort code to remove the need for future redirection. There won’t be any delays in the payment being credited.

    If a payment has been made from a non-Barclays customer to your old sort code, the payment will be redirected to your account. There won’t be any delays in the payment being credited. We will redirect for a period of up to three years (36 months) and we’ll contact anyone that pays you money to ask to update their records for future payments e.g. salary, wages, pension or benefits. We may be in touch again during the redirection period if we notice that companies/individuals have not updated their records, asking you to inform them of your new sort code.

    Are there any changes to my account features and rewards?

    No. Even though your account has a new sort code, it’ll retain any existing features or rewards associated with it. For example, there’ll be no changes to Packs, Apple Pay, Blue Rewards, Kaspersky Internet / mobile security and you can continue to use these as you do today.

    Will my overdraft be affected?

    No. Overdrafts won’t be affected by this change and you can continue to use this facility as normal.

    What can I do if I don’t want Barclays to contact any of my Direct Debit originators?

    To ensure there is no disruption to your Direct Debit payments we’ll contact the Direct Debit originators to advise them of the change to your sort code. If you don’t want us to contact your Direct Debit originators call us on 0333 202 7582 or come into a branch and talk to us.

  • Once I receive my replacement card, how do I amend my card details held by companies I make regular payments to?

    When you receive your new debit, cash or authentication card, you should start to use it as soon as you receive it. You’ll need to update your new 16-digit card number if it’s used to make purchases or online payments. For companies where you make regular subscription, you’ll need to contact the retailer or company to update your payment instructions with your new debit card details (new 16-digit card number and expiry date).

    We’ve produced a guide – ‘Company Payments - How to update your debit card details’ (PDF 858KB) – detailing how to update your debit card details for those companies/retailers who hold your 16-digit card number. We’ve based this guide on some of the most common companies/providers, such as Amazon and PayPal.

    The ‘Company Payments - How to update your debit card details’ guide is available on the same site as this guide.

    Please note; there is no impact to Barclaycards held as part of the sort code migration.

    Do I need to update my information on ‘Apple Pay’ with my replacement debit card details?

    No. The details held in Apple Pay will be updated automatically and you can continue to use it as you do today.

    Do I need to update my new debit card details if I use Contactless Mobile in an Android phone?

    Yes, you will need to reactivate your registration when you receive your new card, to do this from your Android phone open the Barclays Mobile Banking app and go to:

    • Contactless Mobile
    • You will see your new debit card, select ‘Turn card on’ or ‘Change card’ then select the new debit card and then select ‘Continue’
    • You are then ready to make payments with Contactless Mobile immediately.

    Can I still use Chip and PIN following my sort code change?

    You can still use your card details to identify yourself in a branch through Chip and PIN, as the process remains the same and the systems will recognise both the old and new details. However, please start using your new card as soon as you receive it.

    Can I still use my card to identify myself over the telephone following my sort code change?

    You can use your current debit card and authentication card until your new replacement card arrives and you start to use it. Once you use your new card, your old card will stop working.

    Will my new debit card be personalised with a picture?

    Yes, whenever we re-issue a personalised debit card it will bear the existing image that you previously selected for your card.

    If you’d like to update the image on your debit card, you can do so at any time through Barclays Mobile Banking or in Barclays Online Banking.

     

  • Will I be issued with replacement cheque and credit books when my sort code is changed?

    No, you can continue to use any existing cheque and paying-in books for a further 36 months. When you get towards the end of your existing books, replacements will be automatically re-issued with your new sort code. For Corporate & Business Banking customers, their existing cheque books can only be used for 12 months after the sort code change due to the nature of these accounts.

    Can I put a stop on a cheque issued with my old sort code?

    Yes, you can still place a stop on a cheque issued using your ‘old’ sort code and account cheque book

 

 

Concerns, complaints and further information

You can raise any concerns or complaints about the Scheme directly with Barclays through the Barclays’ Objections Portal. We will respond via your preferred contact method in relation to the Scheme-related concern or complaint you have raised. Any concerns or complaints raised in this way are not Statements to the Court. Information about how to make a Statement is available under ‘Statements to the Court’.

Barclays’ Objections Portal can also be used to request further information about the Scheme.
 

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