How businesses can prepare for Brexit
While the full impact of Brexit is currently unknown, businesses can take steps to be ready for the changes ahead
Preparing for Brexit
We're changing the way we structure our organisation to prepare for Brexit whilst backing the UK to succeed through Brexit and beyond
Barclays is backing the UK
As the country moves towards life outside of the EU, Barclays is working to ensure that customers and businesses are well-equipped to rise up and meet both the challenges and opportunities presented to the UK by Brexit.
Barclays is working to play our part and it’s in our interest to do so. After all, 1 in 2 UK adults has a banking relationship with Barclays, and we bank over one million small and medium-sized businesses (SMEs).
In additional to providing local banking services, our Corporate and Investment bank is also working to equip our corporate customers with the insights, support and solutions needed to grow, thrive, and connect with international opportunities.
Because when the societies where we operate succeed, Barclays succeeds.
Looking ahead, Barclays is committed to backing the UK by helping people, local businesses, and larger corporates to succeed in these uncertain times.
Barclays' response to Brexit
As a leading British universal bank, we operate through two principal business divisions: Barclays UK and Barclays International. Our European operations are integral to the strategic ambitions of Barclays International, which is comprised of our top tier Corporate and Investment Bank, our Global Barclaycard business and our Private Bank.
For some time now, we have been expanding our existing subsidiary Barclays Bank Ireland PLC (BBI) in order to continue providing products and services to our clients following the UK’s departure from the European Union.
We have been engaging with clients who are affected by these changes and this page provides more information for those clients (predominantly European clients – excluding the UK - of our Corporate Bank, Investment Bank, and Private Bank businesses).
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Our intention is to continue to provide our current product and service offering to EEA clients via BBI after Brexit where possible. BBI received confirmation of its extended banking license in October 2018. There may be instances where, due to the specifics of particular products and/or jurisdictions, certain EEA clients will continue to have a relationship with Barclays Bank PLC (“BBPLC”) or Barclays Capital Securities Limited (“BCSL”).
BBI Annual Report 2019 (PDF 2.4MB)
BBI Annual Report 2018 (PDF 4.7MB)
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As part of our Brexit plans, we are transferring certain clients under Part VII of Financial Services and Markets Act 2000 (a “Part VII Transfer”). A Part VII transfer is a statutory transfer mechanism which allows the transfer of a large number of separate contracts via an English court order. We are using the Part VII to transfer or duplicate contracts currently in place with Barclays Bank PLC (“BBPLC”) or Barclays Capital Securities Limited (“BCSL”) to BBI via court order rather than requiring you to sign new documentation. More detailed information about the Part VII transfer can be found here:
Click here for more information about the Part VII transfer >>
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Our objective is to ensure that we are preserving market access for our clients following the UK's decision to withdraw from the European Union. For our Corporate and Investment Banking clients, we are using a number of legal mechanisms to transfer and/or duplicate in scope contracts and business arrangements to BBI. These include the Part VII Transfer, or alternative legal transfer mechanisms where these would be more suitable. More detailed information about how we are transferring your documentation can be found here:
Click here for more detailed information about how we will transfer your business >>
Investment Bank clients click here for KYC information for Barclays Bank Ireland (BBI) >> -
*Please note the transfer of Private Banking to BBI took place over the weekend of 29 - 30 June 2019, with an effective transfer date of Monday, 01 July 2019. BBI is now live to serve our European clients. We will have contacted you if any of your products and services were impacted by this transfer.*
We are using a Part VII banking business transfer (the Part VII) for our Private Banking clients. Under a Part VII, the existing contractual arrangements clients have with Barclays are deemed to be automatically transferred and/or duplicated to BBI, so there is generally no need to re-execute such arrangements or sign any new agreements, which is expected to reduce the legal execution burden associated with the transition to BBI.
We have limited contractual changes under Part VII to those amendments required to facilitate the client document migration to BBI.
Learn more about the Part VII Timeline and view the Court Documents
Letter to clients regarding migration March 2019 (PDF 183KB) (migration subsequently delayed to June 2019)
Pre-Migration Important Information leaflet (PDF 168KB)
English - PBOS FAQs (PDF 214KB)
French - PBOS FAQs (PDF 342KB)
German - PBOS FAQs (PDF 322KB)
Greek - PBOS FAQs (PDF 568KB)
Italian - PBOS FAQs (PDF 363KB)
Portuguese PBOS FAQs (PDF 434KB)
Spanish - PBOS FAQs (PDF 323KB)
Russian - PBOS FAQs (PDF 503KB)
Payment Cut-off times (PDF 235KB) -
We would like to confirm our intention for Barclays Bank Ireland PLC to become our legal entity serving European clients going forward. Therefore, we can confirm that, we will proceed with the transfer of our European clients’ in-scope products and services over the weekend of 20-21 July 2019 from Barclays Bank PLC to Barclays Bank Ireland PLC. This is to ensure we are prepared for the final Brexit date when it is confirmed.
In advance of this transfer, you should receive a letter from Barclays Bank PLC notifying you of which of your products and services (if any) are in scope to transfer to Barclays Bank Ireland PLC.Please find the following documents below:
(a) Frequently Asked Questions document for more information about the transfer of the products and services to Barclays Bank Ireland PLC;
Overseas Services Client FAQ (PDF 486KB)
(b) Barclays Bank Ireland Terms which will govern your products and services after the transfer to Barclays Bank Ireland PLC;
Overseas Services BBI Terms (PDF 810KB)
(c) a summary of the differences between the Barclays Bank Terms and the Barclays Bank Ireland Terms
Overseas Services Summary of Contractual Amendments (PDF 434KB)
(d) Barclays Bank Ireland PLC Cut-off times
If you have any questions on the above, please speak to your usual Barclays contact.
Barclays Bank Ireland PLC tariff guide
As set out in our pre-migration communications, the standard rates, fees and charges (the ‘BBI Tariff’) that will apply to certain Overseas, Trusts and Fiduciaries products and services in Barclays Bank Ireland PLC (namely payment and bank account fees / charges (excluding FX payments)), remain subject to approval from the Central Bank of Ireland (CBI). We will contact you with the exact date they apply (when this becomes available) and will make the BBI Tariff available at https://overseas.barclays.com/important-information/payments-rates-and-tariffs/