Barclays Wealth

Frequently asked questions

What has happened to my account(s)?
Your accounts have been switched over to Barclays Wealth International and your account number(s) and bank sort code(s) have changed. Please see the previously sent letter for details.

Have all my accounts been changed?
Your savings and international accounts have been replaced by a range of Barclays Wealth International accounts that closely match your old accounts. If you hold a fixed term deposit, your deal number will remain unchanged until it matures.

When did my account(s) switch over?
This transfer has occurred since the start of June 2010 (excluding fixed term deposits, see 'What has happened to my fixed term deposit?' below for details).

When can I start using my new account details?
Please start using your new account(s) immediately. Your Woolwich Guernsey balance(s) has been transferred. Please see the letter sent for details.

What happens if I use my old account details?
If you use your old account details there is a risk that payments will not be made. It is your responsibility to ensure that you are using your new account details to make/receive payments.

Have my accounts been moved away from Guernsey?
Your funds are deposited in accounts in Guernsey, but under a new sort code and account number. If you would like to have your account located in a different jurisdiction, you can discuss your options with one of the Barclays Wealth International team.

What are the benefits of moving my account?
We can now offer you a higher standard of products and services including more efficient transactions for your savings.

What has happened to Woolwich Guernsey?
All Woolwich Guernsey accounts have been transferred to Barclays Wealth International. Your statements will now appear on Barclays Wealth branded paper and you will gain full access to the wider Barclays Wealth International products and services.

I'm a relationship managed client, have my points of contact changed?
Yes, now that the changes are in effect, your points of contact for any enquiries relating to your account, including payments or balance requests, can be done either online, through the Service Executive team or via your Relationship Manager or Relationship Executive. Full details of the relevant contact details are contained on the letter previously sent to you.

For all day to day enquires please speak to the Service Executive team on +44 (0)1624 684 444* or visit the Barclays Wealth International website.

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Why have you asked me for more personal information?
If you have received a Key Information Form asking for more personal information this is because we have noticed that your details are either out of date or incomplete. In order to protect you from risk of fraud and to enable you to get more from your account(s), we need to ensure we have the most up to date information about you.

Please use the return addressed envelope to help us update our records and provide full use of your accounts. Failure to complete and return this form could result in delays in being able to make payments in and out of your account.

Are there any charges involved with this move?
There are no charges involved with the move, however there may be changes to the cost of certain activities undertaken. Further full details of our ongoing tariff charges for all our services are available here. If you would prefer to receive a hard copy of this, please contact us.

Will I get a closing statement for my Woolwich Guernsey account(s)?
Yes. A closing statement has been posted to you separately.

Will I receive statements on my new account(s)?
You will receive regular statements from Barclays Wealth International for your new account(s).

Can I have online banking? How do I set it up?
Yes. As a result of moving to the new system we are able to offer online banking to all our clients. Please register for this service online.

What can I do online?
With online banking you can do the following:

• View account balances and transaction details
• Pay bills and transfer money between accounts
• Manage standing order and direct debit payments
• Confirm receipt of a cheque
• Order a statement or change statement date and frequency
• Re-order a replacement card and PIN, credit book and/or cheque book
• Make international and UK payments up to £50,000 (or currency equivalent)
• Apply for additional accounts

Will there be a change to the tariff?
Yes, there are some changes to the tariff. A copy of our International tariff guide can be found by visiting our tariff guide pages.

Can I still provide instructions by fax?
No. Our preferred method of accepting instructions is via telephone or online banking. We will therefore no longer be accepting instructions via fax following the migration.

How do I make payments out of my account?
The simplest way to make payments into or out of your account is to use online banking. To sign up for online banking please register here. Alternatively you can speak to the Service Executive team on +44 (0)1624 684 444*.

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What happens if I already have other Barclays Wealth International accounts?
Your newly created account(s) will now be serviced and dealt with alongside your existing Barclays Wealth International accounts and can be accessed in the same way either online, or through your Relationship Manager or the Service Executive team.

I previously had interest earned on my Woolwich Guernsey account paid away to an external account, will this still happen?
No, Barclays Wealth International do not offer this facility, all interest payments will be paid back into the capital holding account.

Will I still receive a cheque where I have requested funds?
Our preferred method of payment is by electronic bank to bank transfer which is both quicker and more secure. Cheques remain available on request and will be charged in line with our standard tariff.

Will I need to keep a minimum balance in my new account?
If you qualify for our Relationship Manager Service the minimum balance requirement is £50,000 (or currency equivalent). As an iBank Saver client you are required to maintain a minimum balance of £10,000 (or sterling equivalent) across your Barclays Wealth International accounts. Please check our published interest rates for minimum balance requirements and the interest rates that apply to savings and deposit accounts.

Has the interest rate changed now my new account is open?
Your funds have not been moved to an account which pays a lower rate of interest than previously. Tiered rates of interest are paid on available accounts, therefore the more you invest the higher the rate of interest earned.

My Barclaycard was attached to my Woolwich Guernsey account, what has happened to this?
Your Barclaycard has not been affected by the migration and continues as normal. We have arranged for the direct debit that settles your bill in full each month to come out of your new account.

Have my Terms and Conditions changed?
Yes, you may review the full Terms and Conditions here.

What has happened to my fixed term deposit?
If you previously held only a fixed term deposit, then we have opened a new Barclays Wealth International account for you alongside it to be used for future deposits or withdrawals. Under Barclays Wealth International policy, the minimum balance for a fixed term deposit is £10,000. If you hold less then this at maturity the funds will be paid into your Barclays Wealth International account.

Can I open up additional accounts?
Yes, Barclays Wealth International offer an extensive range of banking, saving, credit and investment options. For more information please see our website or contact us using the details in the enclosed letter.

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Can I convert my funds to a different currency?
Yes, we offer a full range of foreign exchange services ranging from simple spot conversions to more complex FX-based investment products. Please contact us for more details.

Can I keep my old Woolwich Guernsey account?
No, your old Woolwich Guernsey account has been closed and new accounts cannot be opened with Woolwich Guernsey.

Do you offer borrowing facilities?
Yes, we offer a range of personal loans as well as mortgages on properties in the UK or one of the UK offshore islands.

Can I have card/cheque book access to my account?
No, your new account is a savings account. However we do have a range of current account options that will enable you to have a card or cheque book to use around the world. Please contact us for further details.

I need to send money to my account from overseas, what are the routing instructions?
Please contact us or log on to internet banking to make payments into or out of your account.

How does this change affect my tax status?
We are unable to offer any tax advice, if you have any specific concerns we suggest you seek independent professional advice.

Who is Barclays Wealth?
Barclays Wealth is the UK's number one wealth manager¹, with total client assets of £151.2bn, as at 31 December 2009. With offices in over 20 countries, Barclays Wealth focuses on private and intermediary clients worldwide, providing international and private banking, investment management, fiduciary services and brokerage.

What other services are available?
With Barclays Wealth International you can enjoy a range of international banking and investment options. These are provided through one of our range of international services, please see details included within our previous mailing to you. For further information visit our website or contact us on +44 (0)1624 684 444*.

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