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.

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

Barclays is part of the Current Account Switch Service, which redirects payments to the customer’s new account. This includes redirecting payroll transfer.

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