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Supporting our customers and clients impacted by coronavirus (COVID-19)

16 June 2020

During this period, we understand that many customers and clients are experiencing a range of difficulties, whether that’s customers making repayments on their mortgage or clients experiencing challenges with cash flow and beyond.

Across the UK, Barclays is helping with access to finance and wider support. We are proactively contacting businesses and notifying customers to help them navigate the challenges and uncertainty generated by coronavirus (COVID-19).

 

Personal customer support

We are here to help you manage your money, and are constantly looking at ways to make things easier.

New support includes:

  • Between 1 May and 9 July 2020, if you use up to £750 of your arranged overdraft, we won’t charge any interest. If your arranged overdraft is less than £750, your current limit still applies.

     

    If you use more than £750 of your arranged overdraft during this time, we’re waiving some of the interest to reduce the annual rate of interest (EAR) from 35% to 19.51%, with interest charges capped at £90 per month.

  • Customers might be eligible for a payment holiday of up to three months. Find out what you need to know before applying using our online form.

     

  • If your income has been affected by coronavirus then you may be eligible for a Barclaycard payment holiday. This means that you won’t need to make your usual payments for up to three months and your credit score won’t be affected.

     

  • If your income has been affected by the coronavirus outbreak, you can apply for a 3-month break from making your loan repayments.

     

  • We may be able to remove penalty charges for withdrawing your money early.

     

  • Find out more about further support available on finances, travel, and tips on staying safe from fraud.

     

Business customer support

We are here to help businesses through this challenging time – in whatever way we can.


New support includes:

  • We know it’s a difficult time for your business and we want to help. To relieve some of the financial pressure on smaller businesses, we’re giving you free everyday business banking and won’t charge interest on overdrafts between 13 March and 12 June 20201. This applies to all new and existing customers with an annual turnover of up to £250k. We’ll apply these changes for you – there’s no need for you to contact us.

  • This is available to UK businesses that have been negatively affected by coronavirus. You can apply for a loan between £2,000 and £50,000, subject to the eligibility criteria.

    The loan term is six years, but you can pay back the loan sooner with no early repayment charge.

    The UK government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.

     

  • Get the financial backing you need to help your business cope with coronavirus (COVID-19) through this UK government-backed scheme. It is there to provide eligible businesses with lending of up to £5 million and the government will cover the first 12 months of interest payments. We do not take personal guarantees on any CBILS loans.

     

  • We’ve launched a helpline for all our Business Banking customers impacted by the coronavirus outbreak.

     

    Call 0800 197 10862 between 8am and 8pm Monday to Friday (except bank holidays).

  • As well as the Coronavirus Business Interruption Loan Scheme, the UK government have a number of other schemes and grants available to support small businesses negatively impacted by coronavirus, including:

     

     

  • Find out more about further support available for your business.

Corporate client support

Our relationship teams are ready to provide support to clients facing  challenges to their operations.


New support includes:

  • This is available to support corporates who would normally seek market-based finance for their working capital. The facility stands ready to support unlimited financing to eligible companies.

     

  • Launched on 20th April with loans of up to £25 million available for businesses with a turnover between £45m and £250m. Loans of up to £50m are available for businesses with a turnover of over £250m. Backed by a UK government guarantee, CLBILs has no upper turnover limit.

  • A Coronavirus Job Retention Scheme whereby those who might otherwise have been laid off due to the Covid-19 outbreak can be kept on thanks to the Government reimbursing 80% of an employees’ wages up to a maximum of £2,500 per month.

     

  • A number of measures are now available to support international clients and customers. These include streamlined access to Barclays Trade Loan solution, enabling payments to your supplier base to be tailored to your trade cycle. We have also introduced a simplified process for requests to extend existing trade loan facilities and enabled bespoke solutions for submission of Trade related documentation, like guarantee applications, to support clients working from home.

     

    • Business rates are to be suspended for all retail, hospitality and leisure businesses in England, for 12 months. This has been extended to also include nurseries
    • VAT is deferred from 20 March 2020 to 30 June 2020
    • Grants of £25,000 will be made available for smaller retail, hospitality and leisure businesses with a rateable value between £15,000 and £51,000
    • Hospitality and leisure businesses that have been forced to close following government advice will be able to claim on their insurance where they have the appropriate cover for a pandemic
    • Pubs and restaurants that do not already provide takeaways will be able to do so without submitting a planning application.
    • Use this business support finder to see what support is available for you and your business.

     

  • Find out more about further support available for your business.

 

Barclays £100m COVID-19 Community Aid Fund

Launched in April, this fund will provide £100 million to charities working to support vulnerable people impacted by COVID-19, and to alleviate the associated social and economic hardship caused by the crisis.

Jes Staley, Group CEO

We have been doing all we can to look after our customers, clients, and colleagues through this crisis. We want to do more to back the communities in which we live and work and that’s why we’ve launched this community aid package, working with charity partners here in the UK and around the world to deliver help where it’s needed most.

Jes Staley

Barclays Group CEO

Backing UK businesses through COVID-19

Across the country, Barclays colleagues are working flat out to support businesses through these uncertain times, getting appropriate funding to those that need it, and offering broader support to help them deal with the impact of COVID-19.  Our case study hub page includes just some of the ways we’re helping local businesses through this period and beyond.

 

 

 

1 We’re offering free banking and overdrafts to all our business customers with an annual turnover of up to £250k. After 12 June 2020, your normal charges and fees will apply. We’ll debit these from your account from August 2020.
2 Lines are open Monday to Friday, 8am to 8pm (except bank holidays). Calls to 0800 numbers are free from a UK landline and international calls are charged at local rate, mobile costs may vary – please check with your telecoms provider. Calls may be recorded so that we can monitor the quality of our service and for security purposes.