Bank fees don't get a lot of love. Generally, this is because people don't think they should pay to have their cash handled.
The good news for you is that you don't have to. As a member of staff, you're entitled to a number of fee-free payments.
The only bad news is that if you have accounts with other banks you'll still have to pay their fees.
Here are some of the savings you can make:
- Free copies of statements - saving £5 per statement
- Free stopped cheques - stopping your account being debited by a cheque. This saves you £10
- Free CHAPS (Clearing House Automated Payment System) - saving you £20 on each transfer
- Free foreign cheque collection - this service gives you quicker access to a payment by foreign cheque. The offer saves you between £16 and £40 a cheque, depending on its value
- Free foreign cheque negotiation - saving you between £4 and £60 depending on the value of the cheque
- Free BIPS (Barclays International Payment Service) - saving you £25 on the Standard Service and £40 on the Priority Service when transferring money overseas electronically (Overseas delivery charges still apply)
- Free branch drafts - saving you £12.50
For payments and copy statements, visit your local branch. Tick the box 'Reason for Non-Charging' on the relevant form and add your staff number.
For BIPS, please write the words 'STAFF DO NOT CHARGE' on the charges section of the BIP form.