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Woman on video call during self-isolation

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

 

 

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 customers manage their money, and are constantly looking at ways to make things easier.

New support includes:

  • From 1 May until 9 July we will put in place a temporary interest free buffer of £750 on all arranged overdrafts and apply a temporary interest rate of 19.51% EAR.

     

  • Customers with Residential and Buy-to-Let mortgages might be eligible for a payment holiday of up to three months. 

     

    Customers can also switch from ‘capital repayment’ to ‘interest only’ mortgages for up to 12-months.

     

    A three-month moratorium on repossessions started on 19 March.

     

    Personal mortgage customers may be eligible to extend their mortgage offer by up to an extra six months if their purchase has been delayed by coronavirus.

     

  • Customers affected by coronavirus may be eligible for a Barclaycard payment holiday. This means they won’t need to make their usual payments for up to three months and their credit score won’t be affected.

     

    An increased contactless limit of £45 will allow more customers to make payments without touching card terminals or handling cash.

     

    Customers facing financial hardship could be eligible for temporary credit limit increases. No late payment and cash advance fees will be charged for the next 90 days. (starting 19 March)

     

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

     

    •  Barclays Digital Eagles are offering remote digital skills training and helping customers stay safe online. Visit barclays.co.uk/digital-confidence/eagles/
    • We are supporting our vulnerable customers, including self-isolated and digitally excluded, with alternative ways to bank
    • We are prioritising our NHS workers, where we can identify them, in our branches and telephone banking

Business customer support

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


New support includes:

  • To relieve some of the financial pressure on smaller businesses, we’re giving 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. 

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

    The loan term is six years, but the loan can be paid back 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.

     

  • Barclays has an existing £14 billion lending fund which was launched in 2019 as part of a three-year commitment to help SMEs build resilience during uncertain times.

     

  • A 12-month capital repayment holiday are available on existing loans over £25,000

     

  • An increase to, or new, overdraft facilities are being issued

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

  • The UK Government-backed scheme provides 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.

     

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.

     

  • The Coronavirus Large Business Interruption Loan Scheme (CLBILS) launched on 20th April 2020 with loans of up to £25m million for businesses with turnover between £45m and £250m, and up to £50m for those with turnover over £250m, 80% guaranteed by the UK Government. 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.

     

 

Barclays £100m COVID-19 Community Aid Programme

Launched in April, this programme 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

 

 

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Stay safe from fraud

Fraudsters are exploiting the coronavirus outbreak for scams. We’ll never ask customers to move money to a safe account, or ask for them to share their passcodes or PINs with us.

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Vulnerable customers

We are working hard to support vunerable and isolated customers during this crisis.