Barclays has announced its plans to provide financial help to its clients and customers and additional support to help them navigate the challenges caused by the coronavirus (Covid-19).
Personal Banking
In the personal banking space, the bank has already waived all overdraft charges from 27 March 2020 to April 2020.
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Additionally, it is accelerating the residential and buy-to-let mortgage payment holiday application for customers facing financial difficulties, with a new, easy to use, online form.
Business Banking
In the business banking space, the bank is offering free everyday banking to businesses with an annual turnover up to £250,000 from 13 March to 12 June. It is waiving fees and interest on overdrafts incurred between these dates.
On 23 March, Barclays launched Coronavirus Business Interruption Loan Scheme (CBILS) to provide businesses with £5m of loan, for which the UK government will cover the first 12 months of interest payments.
Corporate Banking
In the corporate banking space, Barclays is providing Covid-19 Corporate Finance Facility (CCFF) to corporates that seek market-based finance.
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By GlobalDataFor international clients and customers, the bank has made available streamlined access to Barclays Trade Loan solution.
