Barclays launches digital cash collection for businesses


Barclays is launching a new ‘Barclays Collect’ cash collection service for business and corporate customers, which will save hard-working businesses across the country time-saving, with the collection service right at their doorstep.

The new service provides customers with a security vehicle to transport their deposits for them and allows customers to book collection time online from their mobile or desktop, which is both convenient and time-saving. .

For every collection of £ 5,000 and over, the service will be free, while a charge of £ 7.50 plus VAT will be charged for collections between £ 2,500 and £ 4,999.99 and less than £ 2,500, charge of £ 15 plus VAT per collection, in addition to cancellation fees and standard handling fees *.

The pilot is currently underway for corporate clients and Barclays businesses in Birmingham, Manchester, Enfield and Leeds Bradford, before the bank plans to roll it out to all parts of the UK in 2016 following the outcome of the pilot.

Customers can schedule a recurring time or schedule a one-time collection. An easy-to-follow security checklist guides customers through collection requirements and gives them confidence that their money will be delivered and processed safely.

Gavin Isle, Head of Business and Corporate Banking at Barclays, said: “Traditionally, small businesses have had to take precious time out of their workday to visit a branch and make their cash deposits. The new Barclays Collect service is a solution that will allow customers to book a collection quickly and securely, providing businesses with a simple and convenient service that works around them. This service will also support large companies with their cash management needs.

“We are passionate about helping businesses and providing innovative solutions to our customers. In addition to saving time, this service ensures the safety of business leaders and their staff and the peace of mind that the proceeds will be in their account the next business day. We’re proud that our investment in digital banking means we leave no business behind.

Company owner Ben Luk of New Harvest Wholesale LTD commented, “The main benefit of Barclays Collect is the convenience factor. We used to visit the bank three times a week and it was difficult to find time with all the other demands of running a business. Pickups are simple to organize using the online reservation system, they arrived on time and the pickup itself now takes less than 30 seconds. It is very reassuring to know that the money is now transferred securely to my account.

The launch of Barclays Collect, which helps businesses and businesses manage their cash deposits, follows Barclays’ announcement to expand its mobile check payments to business customers after a successful pilot.


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