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Published 12 October 2022

Barclays Business Account Review: Pros, Cons & Features

Read our review of Barclays business account, including pros, cons and key features.

Many or all of the products and brands we review are from our partners who compensate us. This may influence which products we write about and the product we choose in our ‘promotion’. However it doesn’t influence our reviews. Our opinions are our own.

Barclays business account: at a glance

Barclays is a UK-authorised bank that provides personal bank accounts, as well as business bank accounts to both small and large businesses, including sole traders and limited companies.

Barclays currently offers business accounts for organisations at every stage of their journey, including start ups, established businesses and charities and community groups.

Find out more about Barclays business accounts, including key features, pros and cons, in our review below.

Learn more about how we bring you our review.


Barclays Business Account

  • Monthly Fee
    From free
  • Card Purchase Fees
    From free
  • Bank Transfer Fees
  • Offer
    New customers may be eligible for an introductory offer of 12 months without a monthly fee.
Learn More

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

Barclays business account pros & cons 


  • Accounts can be managed in branch, online and via the provider’s app.
  • Deposits up to £85,000 may be protected by the Financial Services Compensation Scheme (FSCS).
  • Customers can access in-branch support in England, Wales, Scotland and Northern Ireland.


  • A monthly fee applies to Barclays business accounts (after introductory offer, if applicable).
  • Barclays can take longer than some mainstream banks to set up your account.

These pros and cons are based on a survey of UK business owners on what they found important when selecting a range of business products, conducted by NerdWallet in December 2022.

Barclays business account key features

Barclays business account full review

Barclays was originally founded more than 300 years ago in London, and today has a presence across the whole of the UK.

Barclays offers a wide range of accounts and services to businesses of all sizes. There is no monthly fee for 12 months for business customers who are new to Barclays. Though after this point, businesses will pay a monthly fee.

We’ve collated everything you might want to know about a Barclays business account in the table below.

Monthly feeYes (after introductory offer, if applicable)
£8 (Business Account tariff and Mixed Payments Plan)
£8.50 (e-Payments Plan)
Transaction feesYes (for certain transactions, depending on tariff)
Account managementAt a branch
Over the phone
Via mobile – app or Apple Messages
FSCS protectionYes
Potential for same day set upNo
Cash depositsYes
Cheque depositsYes
Access to other banking services, such as business loans and savings accountsYes
Integration with accounting software and toolsYes
International paymentsYes
Customer serviceVia mobile app
Via online banking 
Automated web chat
Over the phone
Multiple user accessYes
Trustpilot rating1.4 out of 5 (22 February 2023)

Barclays business account features

The following sections provide some key information about specific features of Barclays business accounts.

Business account fees

The stand-out factor considered by business owners when choosing a business account is the monthly price. According to NerdWallet’s survey, a low-cost monthly fee ranked highest out of the 10 criteria.

How much you will pay for a Barclays business account depends on the tariff you are on, and how you use the account. 

There is a monthly fee plus transaction charges for all plans except charity accounts, which may benefit from free banking.

New customers on the Barclays Business Account tariff may be eligible for an introductory offer of 12 months without a monthly fee.

Monthly fee

The monthly fee you pay for a Barclays business account depends on the tariff you are on.

TariffMonthly fee
Barclays Business Account tariffFree (first 12 months, if you’re new to Barclays)
£8.50 (after first 12 months, or if you’re an existing customer)
Mixed Payments Plan£8
e-Payments Plan£8.50

Day-to-day business banking transaction charges 

With Barclays business banking, the transaction fees you may have to pay vary between business account tariffs. You can find more detail in the table below.

Transaction typeFee on Barclays Business Account tariffFee on Mixed Payments PlanFee on e-Payments Plan
Faster PaymentsFree*35pFree
Direct debits and standing ordersFree*35pFree
Purchases with a debit cardFree35pFree
Cash withdrawal at an ATM or Post OfficeFreeFree at an ATM
90p per £100 at the Post Office
Free at an ATM
£1.50 per £100 at the Post Office
Cash paid in at Post Office or automatic machines60p per £10090p per £100£1.50 per £100
Cash paid in or out at a branch counter£1.20 per £10090p per £100£1.50 per £100
Cheques paid in 60p per cheque (via Barclays app or a self-service device)
£1.20 per cheque (at a Barclays branch counter or Post Office)
65p per cheque£1.50 per cheque
Cheques paid out60p per cheque65p per cheque£1.50 per cheque
Transfers between Barclays accountsFreeFreeFree

* It’s worth noting that the Barclays Business Account tariff includes 500 free ‘simple electronic payments’ per month. This includes Faster Payments, direct debits and standing orders, as well as electronic payments into your business account. Transactions over this limit will be charged at 35p each.

This information is correct as of 15 February 2023.

Other fees

If you want to make international payments using your Barclays business account, you may incur extra charges. More information can be found on the Barclays website, but some common charges are summarised in the table below.

Transaction typeFee on Barclays Business Account tariffFee on Mixed Payments PlanFee on e-Payments Plan
SEPA payments (online or via the app)35p35pFree
SEPA payments (at a Barclays branch)£1.50 65p£1.50
Payments via Barclays International Payment Service (online or via the app)£15£15£15
Payments via Barclays International Payment Service (at a Barclays branch)£25£25£25

This information is correct as of 15 February 2023.

Easy account access

According to the business owners that NerdWallet surveyed, the second most important criteria when looking for a business account is how easy the account is to access. 

You can manage Barclays business accounts in four ways: over the phone, online, via the mobile app, and at a Barclays branch.

Mobile and internet banking are available 24 hours a day, seven days a week, and businesses can access bank services over the phone during opening hours: 8am-8pm on weekdays, and 9am-5pm on Saturdays. 

Branch opening days and times vary; you can search your local branch on the Barclays website for more detailed information. There are Barclays branches across England, Wales, Scotland and Northern Ireland.

Account set-up

Being able to set up a business account quickly is one of the top five criteria business owners look for in a business account, rated most important by around a quarter of the business owners that NerdWallet surveyed. 

Barclays aims to begin processing an application within seven business days of receiving it.

After that, Barclays takes six days on average to open business accounts, once all required information and documents have been received and no more information is needed from the applicant. 

FSCS protection

According to the business owners we surveyed, the third most important criteria in a business account is that deposits are protected by the Financial Services Compensation Scheme (FSCS). 

Barclays is a UK-authorised bank, so its bank accounts are protected by the FSCS. If Barclays were to fail, you would automatically be compensated up to £85,000 in your account. Deposits over this limit are unlikely to be covered.

It’s worth noting that the limit applies across all accounts that you hold with a bank. So if you’re a sole trader with separate personal and business accounts with Barclays, the £85,000 limit applies jointly to both of your accounts. However, if you run a limited company, it’s considered a separate legal entity to you as a person, so the company’s account has its own £85,000 limit.

Mobile phone app

Money management via a mobile app is ranked the fourth most important criteria for business owners looking for a business account, according to NerdWallet’s survey.

Barclays has an app available on both iOS and Android devices, so customers can access their account, make transfers and manage their money digitally. 

Customer service

Existing customers can contact Barclays business banking support in the following ways:

Barclays offers customer service in at least one of these formats, seven days a week, with web chat available every day while phone support is only available on weekdays. Neither channel is available 24/7, though there is an automated chat service for out-of-hours support. 

However, 24/7 customer service was not essential when choosing a business account according to our survey, ranking joint ninth alongside international banking facilities. 

Customer reviews

The Barclays app has been reviewed by users on several platforms. 

It’s worth noting that these reviews also cover other financial services and products Barclays provides, not just business banking.

This information is correct as of 22 February 2023.

Barclays business account eligibility

To be eligible to open a business account with Barclays, you must:

You must also be willing to undergo a credit check. Barclays runs a credit check on you and your business when you apply for a business account. If you successfully open an account, the bank will then share information about how you use the account with credit reference agencies.

Additionally, there are specific eligibility criteria for certain industries, such as agriculture and social housing. It’s worth contacting Barclays directly if you have queries about your business’s eligibility for an account.

How to choose a Barclays business account

There are a number of questions that you may want to ask yourself when looking at a Barclays business account, or comparing to other providers:

How to apply for a Barclays business account

You could either apply to open a new Barclays Business account from scratch, or you could switch your current bank account to Barclays using the Current Account Switch Service.

It’s worth mentioning that Barclays have paused some business account applications at the moment. If you are an existing customer, a sole trader or a limited company that has been trading for less than 12 months, you’ll be able to apply online or through the app. Otherwise, you may not currently be able to get a Barclays business account. You can contact the bank for further details.

To apply for a Barclays business account, you’ll need to follow these steps:

  1. Apply online.
  2. Submit proof of ID and address.
  3. Wait for approval.

Apply online

You can apply for a Barclays business account online or through the Barclays business banking app. How you’re able to apply may depend on your business type and whether you currently have a personal or business account with Barclays. 

You can also enquire by contacting the bank or by visiting a branch.

You’ll need to provide information about you and your business, such as:

Barclays is one of the banking providers to have agreed a common set of documents and information that you need to provide when opening a business account. You can find more information on the UK Finance website.

Submit proof of ID and address

As well as any information about your business, Barclays needs proof of your identity and address (both home and trading address). 

You can use the following as proof of ID:

You can use the following as proof of your residential address:

To prove your trading address, you can use a document, such as a commercial tenancy agreement, a commercial business energy bill (dated within the last three months) or a business bank statement (dated within the last three months). 

Wait for approval

Once your application has been reviewed and approved, you’ll receive a text letting you know your account is open.

Barclays will then send your business account details, along with your business debit card, within seven business days of opening your account.

Review methodology

At NerdWallet Ltd UK we base our reviews on the results of surveys we conduct to understand what key product features are important to those who use them, and align them to the product we review.

Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible but it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability of your financial circumstances.

You can view our review methodology here.

About the Authors

Dan Barraclough

Dan is an experienced writer of B2B and B2C content, having written for start-ups, small businesses and household name brands. His specialist topics include finance, insurance and business energy.

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Kristina Fox

Kristina was a writer at NerdWallet who focused on writing finance content for small businesses, as well as young people and students. A recent graduate trading French for finance, she…

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