Barclays business bank account comparison and review

Barclays can make a solid choice for your business account.

4.1 ★★★★★ (209 reviews) Write a review
Barclays

Barclays business accounts cover most business needs and come with all the advantages of a big bank, from an extensive network of bank branches to dedicated business customer service.

As with most business accounts Barclays charges fees but there are a variety of ways to reduce what you pay for a Barclays business account from a year without fees for new customers to loyalty discounts.

Compare Barclays business accounts including charges and fees

Name Product Account fee Bank transfers Requires credit check Arranged overdraft Accounting integrations Account management Key benefits Business bottom txt Link
Charity and Impact Account
Charity and Impact Account
Free
Free
Multiple providers
Online, app & phone
View details
Clients Premium Account
Clients Premium Account
Free
Free
Multiple providers
Branch, online, app & phone
View details
loading

What types of business account does Barclays offer?

Barclays offers four types of business account:

  • Startup business account. If you’re just starting out, this account is free for the first year. You’re eligible if it’s your first business account and your business has been operating for less than 12 months.
  • Business account for turnover of up to £400,000. This is for small established businesses.
  • Business account for turnover of between £400,000 and £6.5 million. An account for medium-sized established businesses.
  • Charity and Impact account. Everyday banking for not-for-profit organisations.

Barclays business account charges

New Barclays Business customers will recieve 12 months of free business banking. Thereafter, Barclays charges 2 main kinds of fee on its business accounts:

  • Monthly fee. As you may have guessed, this is a fixed fee that is charged every month, no matter how much you use the account.
  • Transaction fees. These charges depend on how many transactions you make; you’ll be charged for electronic bank transfers (in or out), as well as cash and cheque payments (in or out).

Depending on how you intend to use the business account, you can choose between two types of plan:

  • Mixed Payments Plan. With this plan, all transactions are charged a fee, but cash and cheque payments are cheaper.
  • e-Payments Plan. In return for a slightly higher monthly fee, you get free electronic bank transfers in or out of your account. Cash and cheque payments are more expensive than with the Mixed Payments Plan though.
  • You can see the full list of charges and compare the two plans in Barclays’ business account charges sheet.

    The benefits of a Barclays business account

    • Multiple ways to bank. In person, on the phone, online or through the mobile app.
    • A wide range of related financial products available. From savings accounts to business loans to insurance, Barclays allows you to manage all your business finances in one place.
    • Money back on your fees. After the first year, you’ll be eligible for Loyalty Reward, a Barclays loyalty programme that pays you back part of your business account fees. Depending on how long you’ve had the account for and on your business’s turnover, you can get between 5% and 50% of your fees back.
    • Solutions to accept card payments. With Barclays there is the option to set up your own portable card terminal or e-commerce portal to accept your customers’ card payments.
    • Customer support. If you need help, you can contact Barclays’ business account customer service team through the in-app chat, or by phone (telephone lines are open 8am to 8pm Monday to Friday, 8am to 3pm on Saturdays, 9am to 5pm on bank holidays and closed on Sundays).
    • Accounting software integrations. Barlcays offers free invoicing and accounting software from FreshBooks to its business account customers.
    • Business hubs. Barlcays Eagle Labs offer educational resources, events and support to help your business grow.

    Barclays loyalty rewards can reduce your fees by up to 50%, depending on the size of your business and how long you bank with them. This is worth considering when comparing business current accounts.”

    Ruth Jackson-Kirby, personal finance expert

    How to apply for a Barclays business account

    You can apply through the app, online, on the phone or in person at a Barclays branch. If you don’t have a personal account with Barclays already, you may need to pop into a branch anyway at some point in order to be able to complete your application.

    Here’s a basic list of the information and documents you’ll need:

    • Your personal details, proof of identity and proof of address
    • Three years of address history
    • Details of any other director of your business
    • Your business’s details, including a proof of address
    • Business registration number
    • Date and certificate of incorporation
    • Business turnover and tax information
    • Previous banking details if you have them and are looking to switch

    Barclays business account customer reviews

    In our independent 2024 customer satisfaction survey, 94% of Barclays’ users said they’d recommend the brand to a friend. Customers highlighted the bank’s competitive rates and great customer service. Here’s what some of those Barclays customers had to say:

    “Friendly and helpful customer service teams, quality website and app, and a good online portal to easily manage a wide range of useful financial products”

    “Good customer service and easy to contact when you need to speak to someone”

    On the Apple App Store, Barclays scored 4.6 out of 5 stars from over 5,000 reviews. On the Google Play Store, Barclays has scored 3.7 out of 5 stars, from almost 1,000 reviews (February 2024).

    Pros and cons of Barclays business accounts

    Pros

    • Different business accounts and pricing plans to choose from.
    • Multiple ways to bank – via online, mobile or telephone.
    • Big branch network, if you need to visit the bank in person.
    • Dedicated business support team.
    • Loyalty programme means an eventual reduction in account fees.
    • Option to apply for other financial products, such as business loans.

    Cons

    • Might be able to find a cheaper business account elsewhere.
    • Not 24/7 business customer support.

    Customer service information for Barclays

    Email support
    Telephone support
    In-app or live chat
    Contact form
    Branch support

    Our verdict

    There’s a reason Barclays still has over 900,000 business account customers despite increased competition from challenger banks and app accounts. It offers a range of accounts to suit businesses at every stage in their development and it uses its experience to offer extra support to its business customers. This could be at its Eagle Labs where it offers business mentoring or education resources or its dedicated assistance to female run start ups.

    Barclays also has another advantage over some of the newer banks and app-based accounts – a substantial high street presence. This is a big advantage for businesses that need counter services.

    There are some digital-only business accounts on the market that don’t come with a monthly fee, but if you’re looking for an account at a high street bank, then Barclays represents a solid choice.

    You can start signing up for a business account by visiting the Barclays website or downloading its app. If you have read this review and decided that a Barclays account is not for you, you can also compare other business bank accounts on the market.

    Frequently asked questions

    Banking scores

    ★★★★★ — Excellent
    ★★★★★ — Good
    ★★★★★ — Average
    ★★★★★ — Subpar
    ★★★★★ — Poor

    Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

    To find out more, read our full methodology.

    We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
    Avatar

    Written by

    Valentina Cipriani

    Valentina Cipriani was a writer at Finder UK. She wrote news, features and guides about banking and credit cards, helping people to improve their financial lives. She holds an MA in International Journalism. See full profile

    More guides on Finder

    Go to site