Barclays

Barclays responded to a Request for Information from the Department for Education and provided the information on this page. Details may be subject to change.

The information provided is aimed at multi-academy trusts. Some local authority maintained schools may also benefit.

Schools and trusts must have a combined funding turnover of at least £6.5m to qualify.

Barclays offers

• account structuring solutions, such as credit balance aggregation, notional pooling and virtual account management, which help customers reduce bank account administration and increase interest on credit balances
• access to a Relationship Team, made up of a Relationship Director and Associate Banker
• social value initiatives such as Code Playground, Digital Wings and LifeSkills, a programme which support students with learning skills like CV writing and money management

Switching to Barclays

The Relationship Team supports schools throughout the onboarding process by

• hosting a meeting to establish which financial products are suitable for the school or trust
• helping schools to complete the Know Your Customer requirements
• issuing cards and transferring payments across

It can take 3 to 4 weeks between submitting the application and the account being set up, providing all the documentation is correct.

Visit Barclays’ website