BARCLAYS’ NEW DIGITAL CASH COLLECT SERVICE FOR A BETTER CUSTOMER EXPERIENCE
As a multinational banking and financial services company in Britain, Barclays has its operations spread over a range of different stuff, like retail, wholesale, wealth management, credit cards and mortgage lending. Till the end of 2011, Barclays had one of the greatest numbers of assets worldwide.
Barclays is well known for its consumer-oriented working strategies with its staff working day and night to provide an out-of-the-world banking experience for its consumers. Along with individual consumers, Barclays also work with both small and large business organizations alike. In an understanding of the sheer load of work that business owners in general have to face every day, Barclays has made it easier for these owners to deposit their money in the bank without having to visit the bank themselves. This new service is currently present in Birmingham, Manchester, Enfield, Leeds and Bradford, with future plans to spread it out to all the regions of UK.
HOW DOES IT WORK?
Small business owners, in particular, may find it difficult to take out time to visit the bank and deposit their cash. In view of this the bank has introduced its new service “Barclays Collect”. This is a cash pick-up service that is expressly intended for the ease and comfort of the owners of different businesses who do not have enough time to leave their businesses to deposit cash into the bank.
HOW CAN YOU BOOK THE SERVICE?
Booking is usually done online. Clients can order the collection from their preferred location and time as long as the required time slot is available. They, then, receive a correspondence from the bank explaining to them the security protocol and procedure. After that, the bank sends a security vehicle to the location given by the client to collect the cash and bank it for the client.
TERMS AND CONDITIONS OF BARCLAYS’ COLLECT SERVICE:
According to the bank, both large and small business firms can benefit from this service. Following terms are generally applied when a client uses this service:
- If the total amount of cash in a single collection exceeds, or is equal to, £5000, the service would be free of cost.
- If the total amount of cash in a single collection is from £2500 to £4999, the client would be charged £7.50 plus VAT.
- If, however, the amount is less than £2500, the bank would charge £15 plus VAT from the client.
- Cheques can also be included in the collection as long as the total number of checks does not exceed 50.
- In case a client decides to cancel the collection a day before the booked time, they would be charged £15 plus VAT.
- To get benefited from this service, clients must have a business account with Barclays.
- In addition to the service fee, standard transaction fee for the deposit of cash and cheques are also applied.
Gavin Isle of corporate banking at Barclays has said: “(This) Barclays Collect service is a solution that will permit clienteles to book a collection rapidly and securely. In addition to time saved, this service offers safety for business proprietors and their staff and with the peace of mind that takings will be in their account the next working day.”