How to Close Barclays Business Account in the UK

Have a Barclays business account but are thinking of switching? Perhaps since you opened your account, the needs of your business have changed. Or you may simply have seen a better deal elsewhere.

Read on to find out how to close your Barclays business account, including the different ways you can go about it.

Plus, we’ll take a look at an alternative to a traditional business bank account, for when you’re ready to find a new provider.

Open a Wise Business account online to manage your company’s money in 50+ currencies, and send and receive international payments for low fees. If your firm trades internationally, it could be the ideal solution.

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But more on that later. For now, let’s focus on getting that Barclays business account closed for you.

Close Barclays business account online - Is it possible?

You’re busy running your company, so it’d be useful to have the option to close your business account online in just a few clicks.

Unfortunately though, this isn’t an option with Barclays. There isn’t a direct online route to close an account, so you’ll need to do it in a branch, by post or over the phone.

How to close a Barclays business account

Ready to close your Barclays account? Before you get started, it’s a good idea to clear any outstanding overdrafts or credit card balances linked to the account. Otherwise, you could face delays when it comes to shutting the account down.

You’ll also need to decide whether it’s just your main Barclays business account you want to close. If you have other products, such as a Barclays foreign currency account or a Barclays USD account, you may want to close these at the same time. But only of course if they’re no longer needed.

Once you’ve done this, you’ll need to choose one of three available methods for closing your Barclays account. You can do it by post, in a branch or over the phone.

Close Barclays business account on the phone

By phone is likely to be one of the quickest methods of closing down your Barclays account.

However, you can only use it if you’re only closing one of your Barclays accounts - not your main account or all of them. If you’ll be ending all of your services from Barclays, you’ll need to use one of the other methods.¹

To close an account on the phone, you’ll need to have your bank details ready, and call Barclays on 0345 605 2345.¹ A customer service representative will guide you through the process, taking all the required information to close your account and transfer your balance to another account of your choosing.

Close Barclays business account in branch

If it’s convenient for you to visit a Barclays branch or you’d simply prefer to do it in person, you can find your nearest branch here. There’s no need to make an appointment - you can simply pop in.

Make sure you take the following with you:²

• The debit card and cheque book for the account you want to close.
• Proof of ID and address (two valid, original documents in total). You’ll need one document to prove your identity, such as a passport or driving licence. And you’ll need another as proof of address, such as your driving licence, recent bank statement, credit card statement or utility bill. These must be dated within the last 3 months, and statements from digital banks won’;t be accepted.

Close Barclays business account by mail

Lastly, you can close your Barclays account down by post. This is the option most suited to businesses which have a complex bank mandate. You’ll need to download, print and complete the business account closure form. This form must also be signed by all authorised signatories in accordance with your mandate.

Once the form is complete, you’ll need to post it along with your cut-up debit card and cheque book to the following address:¹

Barclays
Leicester
LE87 2BB.¹

Barclays close business account form

When completing the business current account closure form, you’ll need to provide the following information:

• Business name and account details - for all accounts you want to close
• Nominated account details - for transferring any remaining balance
• Reason for closure
• Full details and signature for all authorised signatories.

Barclays business account statements

As a business owner, keeping track of your transaction history is crucial. Your bank statements are used for accounting and record-keeping, so there can’t be any gaps.

The good news is that when you close an account with Barclays, the bank sends you five years of paper statements. Although if you’d prefer not to receive them, you can opt out on the account closure form.¹

If you choose not to receive your statements but need them later on, you’ll have up to 5 years after closing your account to make a request to Barclays.¹

Discover Wise Business multi-currency account

Once your Barclays account is closed, you’ll be looking for a new one to manage your company’s finances. But before you head straight to another bank, make sure you check out some of the available alternatives.

If your company does any business overseas, the Wise Business account is the ideal choice. It’s quick and easy to open online, and gives you a powerful platform for sending and receiving international payments, as well as managing your business finances in over 50 currencies.

You can easily pay workers and suppliers all over the world, for low fees and the mid-market exchange rate. And you can get paid for your services quickly and easily, accepting payments in 10 major currencies using your own local account details.

If you need a solution for expenses, you can order a Wise Business expense cards for every team member who needs one - and you’ll keep full control. The Wise debit card works in 174 countries and charges no foreign currency transaction fees. It even offers 0.5% cashback on spending.

And to make accounting just a little easier, it’s good to know that your Wise Business account can be linked to tools such as Xero or Quickbooks.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

After reading this, you should be all set to close your Barclays business account. We’ve run through the different methods available, so you can pick the one that works for you and your company’s needs. There may be some paperwork involved, but the process should be relatively painless.

Sources used:

Sources last checked on date: 12-Apr-2023