Free Banking Options from Barclays Business Accounts

One of the most popular suppliers of banking services for Small and Medium Sized Enterprises is Barclays Bank. They offer a range of products suitable for any size of business from new start-ups to large multi-national corporations.

Barclays Bank SME Accounts

The following two products cater for new start-ups and those wanting to switch their provider.

Provider
Account Name
Apply Online
Barclays logo
Barclays Start-up Current Account
Completely fee free banking for up to two years then no charges for automated transactions thereafter (*).
Barclays logo
Barclays Standard Account for Switching Providers
Free automated transactions when you subscribe to the Business Essentials Package (*).

The start-up current account includes the following benefits in addition to those mentioned above:

  • Telephone support from the business team 24 hours a day seven days a week.
  • Secure online data backup services.
  • Bad debt and credit management help.
  • One to one consultations with accountants and marketing professionals.
  • Additional legal and tax advice.
  • Support from account managers.
  • Apply and set up your account online.

(*) This offer is available for individual(s) setting up the first bank account for a business within its first 12 months of trading. There's no charge for standard transactions for 12 months with the standard Business Start-Up Package.

There's no charge for standard transactions for 18 months if the company purchases Business Essentials, Business Essentials Plus or Barclays Business Manager software at the time of opening the account. There is no charge for standard transactions for two years if the company purchases Business Essentials and CREDITFOCUS or Business Essentials Plus and CREDITFOCUS Pro at the time of opening the account.

This applies to everyday Sterling debit and credit transactions and the maintenance fee. Please note accounts must be active. At the end of your initial banking period, you'll automatically be moved to the Automated Transactions Tariff.

Barclays online account screen
Screen shot of the main online account screen.

Companies Switching to Barclays from Another Provider

If you're with another bank and are thinking of switching to another provider, then the standard account may be suitable. You'll receive the following features:

  • Online data backup.
  • Credit management service.
  • Consultations with accountants and marketing experts.
  • Legal and tax advice.
  • Support from account managers.
  • Overdraft facility available up to £25k (Ts & Cs apply).
  • 2% cash back on business loans over £10k (Ts & Cs apply).

Business Essentials and Essentials Plus Details

To qualify for the automated tariff, you must subscribe to additional services. Although there's a monthly fee charged, various additional features are added to your account.

  • Monthly account charge of £17.50 plus vat.
  • Unlimited access to business planning software programs.
  • Training courses and videos.
  • Sage or QuickBooks cash flow management software.
  • VAT management solution and stock control software.
  • Estimated savings amount to £700.

Business Manager Package

This premium service provides the same benefits as the essentials service with additional features and benefits as follows:

  • Monthly account charge of £23.00 plus vat.
  • Business planning document software.
  • Training courses and videos.
  • Sage or QuickBooks cash flow management software.
  • VAT management solutions.
  • Stock control software.
  • Health and safety compliance.
  • HR compliance service.
  • Estimated savings £1,700.

Services Available for all Customers

No matter which account you select, you're able to take advantage of a range of services dedicated to helping manage your organisation.

  • Local account manager to support and help manage working capital requirements.
  • 45 minute consultation with a local accountant.
  • 45 minute consultation with a local solicitor.
  • 45 minute consultation with a local marketing expert.
  • Local seminars.
  • Telephone helpline for legal and tax issues.
  • Automated backup of your business data up to 2GB.
  • Credit management tools to check credit ratings of third party organisations.

About Barclays Bank

The original organisation was founded in 1690 in Lombard Street, London, trading as Goldsmith Bankers.

They operate both retail and corporate facilities around the globe. Innovations include the introduction of the first ATMs or cash machines as well as the first debit card in 1987.

The Woolwich Building Society is part of the group providing mortgage services with their headquarters in Canary Wharf in the former docklands area of East London.