Barclays offers 4 types of business bank accounts for startups as well as growing businesses and social enterprises. These are:
Barclays offers 4 types of business bank accounts for 3 types of businesses like startups, growing businesses, and social enterprise.
- Start-up business bank account - This is a small business bank account on Barclays, and it is designed for start-up firms, with tools and support to help them grow their business.
- A business account with a turnover of up to £400,000 - It is designed for established or growing businesses.
- Business bank accounts with a turnover of £400k to £6.5 million - A more sophisticated account with dedicated support from a team of Business Managers for well-established enterprises.
- Community account – A bank account designed to provide quick and simple banking services to charities, social enterprises, and other small non-profit organisations.
When you open an account with Barclays, the features you will have access to is based on the size of your business and account type.
The following are some of the features:
- Mobile banking in Barclays app - free invoicing feature.
- 24/7 UK-based customer support.
- Safe and secure online banking.
- Time-saving tools.
- Access to business debit and credit cards.
- Extra add-ons allow you to take customer payments by connecting a card machine to your account via a mobile device.
If you have business in other countries or have international clients, you can use a Foreign Currency Account offered by Barclays. This type of account can save money on international transfers for up to 20 currencies as compared to a standard Barclays business account. It can also help you save time by streamlining and simplifying international transactions.
However, you will have to open a separate account for each currency with Barclays. This makes it best for businesses to send and receive payments in just one or two currencies only.