Idea Transcript
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Subject to the court’s approval all Retail (including Premier Banking and Mortgage) customers of Barclays Bank PLC whose products and services are held in the UK, will be transferred to the ringfenced bank. Most customers and clients will continue to have access to the same products and services they have now, and will be able to keep banking the way they’re used to, via online or mobile banking, over the phone, in branch or via your relationship manager. If your banking arrangements are affected, we’ll contact you. Some customers may find that they have accounts with both banks (Barclays Bank PLC and the ring-fenced bank). For example, a Managing Director could have a Corporate relationship and products that remain in Barclays Bank PLC, although, their personal current account would move to the new ring-fenced bank. If, in the future, you will have accounts across both Barclays Bank PLC and the ring-fenced bank, we may contact you about ring-fencing more than once to explain the changes.
To ensure Barclays aligns with the new ring-fencing legislation, some of the services that are currently available to you today in our Jersey, Guernsey or the Isle of Man (the “Crown Dependencies”) branches will no longer be available. Once ring-fencing takes place in April 2018 these branches will remain in Barclays Bank PLC as they are located outside of the UK. If you use these branches after April 2018, unfortunately you will no longer be able to use the counter service for transactions such as withdrawing or depositing cash or cheques. However, you will still be able to use any UK branches for these transactions and will still be able to withdraw money at any Barclays cash machine including those in the Crown Dependencies, when using a Barclays debit card up to your usual withdrawal limits. You may also be eligible to open an account held at one of the Crown Dependency branches, which would then allow you to continue to make full use of these services. Please see the link below for further information.
There should be no changes to your banking arrangements. Customers who also hold non UK Retail accounts or who live outside of the European Economic Area (including Jersey, Guernsey and Isle of Man) will continue to have access to the same products and services offered by Barclays Bank PLC and its subsidiaries, as they do today.
You do not need to take any action unless we contact you. If you are affected by the changes, we’ll tell you how, when the changes take place and whether you need to do anything further. Please visit the following links to find out more: Restrictions on Transfer and Court Orders Where accounts that would otherwise transfer to the ring-fenced bank are held by customers who are subject to an asset freeze under any applicable sanctions regulation, or where they cannot be lawfully transferred for any other reason, the relevant accounts will be retained by BBPLC until the transfer can be lawfully made. Where accounts that are transferring to the ring-fenced bank are the subject of a Court order imposing restrictions upon them (such as a freezing order), the items will be transferred to the ring-fenced bank as intended, but they will continue to be subject to the same restrictions under the relevant order after the transfer as applied immediately before the transfer. If your account is subject to a Court order, the terms and conditions of the Court order will remain in place. Please refer to the terms and conditions of your Court order for details of what activities are allowed on your account.
Separately, you may already have been notified that your sort code has been, or will be, changed prior to ring-fencing. See below for further information.
To align with the ring-fencing legislation, the sort codes for a small proportion of our customers will need to change before the end of January 2018. This is to ensure their accounts can be held in our new ring-fenced bank. We will contact you individually if you are affected by this. Your account numbers will remain the same and we’ll make sure that any payments continue to reach your new sort code.
Concerns, complaints and further information You can raise any concerns or complaints about the Scheme directly with Barclays here through Barclays’ Objections Portal. We will respond via your preferred contact method in relation to the Scheme-related concern or complaint you have raised. Any concerns or complaints raised in this way are not Statements to the Court. Information about how to make a Statement is available under ‘Statements to the Court’ here. Barclays’ Objections Portal can also be used to request further information about the Scheme.