Barclays is the first – and only – bank to reward small business customers for their loyalty

The FINANCIAL — Barclays launches a new Business Current Account for small and medium sized businesses (with turnover up to £5million) and is the first, and only, business bank account to reward customer loyalty, according to Barclays.

The Loyalty Reward means that the longer a customer banks with Barclays and the more money they put through their account, the more of their bank charges they’ll get back.

The Barclays Business current account has been designed using indepth customer research, into what they wanted from the business current account. It can be tailored to the customer’s individual business, so they can spend less time on their banking and more time on the important things like growing their business, according to Barclays.

“At Barclays we recognise how important meaningful relationships and rewarding loyalty is to our customers. It is something we haven’t always embraced but we are certainly committed to delivering it now with the launch of our unique Business Current Account," said Sue Hayes, Managing Director of Barclays Business banking.

“Barclays is the first and only bank to reward small businesses for their loyalty, ensuring that in the same way SMEs reward customer loyalty, their bank does too. It’s our way of showing our appreciation to business customers for choosing to bank with us, and we look forward to supporting them and their business in the years to come,” Hayes added.

Business customers can choose the Price Plan that best fits their business, and they’ll also benefit from the Price Plan Guarantee. This is a yearly review that ensures customers are on the plan that offers them the best deal. This means business customers have to spend less time worrying about their banking, and can dedicate more time to driving business growth, according to Barclays.

The new Business Current Account also provides customers with a Service Guarantee. This is a promise that Barclays Business Telephone Banking Team will aim to resolve queries straight away, and if they can’t, they’ll provide a named contact who will take personal responsibility for resolving the query, according to Barclays.