Barclays coronavirus overdraft: What support are they offering and what are the fees?
11 August 2020, 14:42
Barclays are offering support for their customers financially struggling amid the coronavirus pandemic.
People who are having, or expect to have, temporary financial difficulties because of COVID-19 are being offered support by bank Barclays.
Their customers can apply for overdraft support and lower interest rates, and have put together an overdraft calculator to help people work out their outgoings.
Here's everything we know about the Barclays coronavirus overdraft support:
What is Barclays coronavirus overdraft support?
The coronavirus pandemic has had an unprecedented impact on people across the UK, whether they have lost a loved one, have been made redundant or haven't been able to work.
Because of this, lots of banks are offering help to their customers during the difficult time.
Barclays customers have until October 31, 2020 to apply for support on their overdrafts.
From the date their application has been approved, Barclays will be offering no charges on the first £500 of your overdraft for two months.
They will also be lowering their annual interest rates on charges for overdrafts over £500 for the same two months.
Barclays will be capping interest charges to £90 each month for the support period.
The bank's overdraft calculator – which you can find here – will help customer work out how much they will be charges for the support.