As revealed in the latest Employer Bulletin, this time they are moving to Barclays, from Citi. Why are they doing this and what’s the advantage?
What are other people’s experiences of switching bank?
Do you think it puts pressure on banks to provide a better service? And do you think the main banks currently provide a good service for small businesses and accountants?
Replies (8)
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I thought ...
... they changed to RBS as they owned it, and I thought they still did. Does the move to Barclays signify something on that front?
Re-tender
Citi & RBS had the contract to provide banking services to government, and like all contracts, it came to an end. Government re-tendered in Aug 14 (gory details here: https://www.delta-esourcing.com/delta/viewNotice.html?noticeId=79675940 ) and it looks like Barclays got the gig, hopefully at lower cost/transaction
Barclays
May have offered 12 months free banking to get them over. RBS will have probably tried to passed them over to GRG section as HMRC affairs in such a bad state.
12 months free banking
May have offered 12 months free banking to get them over.
Brilliant, or do you think George went to the other banks with a utility bill over six months old?
we are all being challenged to move bank acounts
it increases 'competition' the gov are showing a lead !
It could very well be that they got the tender. However from experience I know Barclays have better IT systems then any other banks so they may very well be moving for automated bank feeds and trying to implement cloud accounting!
HMRC changing banks
The press release about the change of banks says:
Most taxpayers paying their bills electronically will be unaffected and do not need to do anything.
But surely one would have to enter the Barclays sort code etc when paying. Is that doing nothing?