Barclays is a Big 5 British high street bank. That makes them tempting to small business owners that want the security and trust of working with a big bank. At the same time, it is a big bank, and that means it might not be the most competitive.
BarclayCard stands out with clear pricing, an all-in-one service, and plenty of features for businesses of all sizes. It’s also a great choice for many if you’re scaling or already have the transaction volume to negotiate better rates.
If you’re wondering what BarclayCard charges for machines, transactions, and contracts, this review covers that and more.
What is BarclayCard?
BarclayCard is the business payment processing service offered by Barclays Bank. The bank itself is one of the largest in the UK, offering services to over 900,000 businesses.
BarclayCard itself offers payment processing, acquiring, card machines, and online payments. Barclays is also an international bank, which makes it ideal for businesses taking international payments.
Plus, with a business bank account, business debit cards, payrolling, and even business finance, Barclays offers everything you need. You won’t need a separate bank or account to accept or spend money you earn through your business.
BarclayCard Card Machines: Models, Features & Pricing
BarclayCard is primarily designed to offer card terminals with a merchant account service. However, you can also set up an online payment gateway for websites and apps.
Card Terminals
BarclayCard offers a choice of three different card machines. Each is available for a different rate, but all three use the same transaction rates. These include:
- BarclayCard Flex – A simple chip & pin and contactless card machine. This offers the basics for accepting payments. It’s also battery powered so good for use throughout a shop or facility. A 4G subscription also means you can take it anywhere. This card reader costs from £15.99 per month.
- SmartPay Anywhere – This card reader is designed for micro business. It costs just £29 upfront. In addition, unlike many micro-business card machines, this one accepts chip and pin. That makes it more versatile than competing offers from Square or SumUp. Plus, it fits into your pocket and connects to your phone via 4G. That makes it ideal for contractors and gig workers on the go, like plumbers, taxi drivers, and delivery services.
- SmartPay Touch – This Android-powered card machine offers a full point of sale machine, including barcode scanning and receipts. It costs £29 per month to rent. In addition, it offers inventory and stock management, product listings, an online portal, and even accounting services for free.
With three card machines on offer, BarclayCard offers enough to meet the needs of most consumers. You can also add more than one model, and pricing per month will simply scale up accordingly.
However, it’s definitely geared towards startups and small businesses. If you earn more or need a full-scale PoS, BarclayCard might want to move you to a custom contract.
Online Payment Gateway
BarclayCard offers an online payment gateway that integrates directly into most major shopping carts. You can also integrate it directly into apps, software-as-a-service platforms, and into your own website. However, usability is slightly lower than some competitors and you may need support from the BarclayCard team to finish the integration. BarclayCard previously asked £20 per month for the online payment gateway. However, the current pricing structure means you’ll need a custom quote to get rates for your specific business and transaction volumes.
On average, transaction rates start at 0.7% for UK debit cards and go up to 2.4% for credit cards. You’ll also pay a 3p authorisation fee per transaction.
BarclayCard also doesn’t charge different rates for online card processing vs. Face-to-face transactions. That means you’ll potentially save over some omnichannel payment processors that do charge different rates.
Other Services
BarclayCard is a full-service bank. This means you’ll have options for:
- Business Banking – You can open a full business bank account with Barclays and immediately accept funds to that account.
- Acquiring – Barclays is an acquiring service; you won’t need a third party to accept payments.
- Business Debit and Credit Cards – You can directly spend earnings from a business debit card or apply for business credit.
- Business financing – Barclays offers business financing. However, unlike some competitors, you won’t get an instant decision.
- Accounting – Barclays offers accounting software for free with many of its packages. That means you can save costs on software you need anyway.
Some of these features are available for free. However, most will cost you a monthly fee. That means you’ll need a custom quote from Barclays to see what your rate is.
BarclayCard Pricing
BarclayCard is owned by a big bank, which means that most of its pricing is custom. You’ll have to request a quote to see what your actual rate is. That makes it more important to get multiple quotes from competitors so you can compare.
Keep in mind that these rates will change depending on your specific contract:
- Card Machine Hire Rate – £15.99-£29.99 or a one-off fee for a small model
- Online Payment Gateway – £20 per month
- PCI DSS Fee – £4.80 monthly
- Transaction Fees – 0.75% – 2.45% + 3p (negotiable)
- Minimum monthly service charge for transaction fees is £10
- Chargeback fee – £20
These prices are all competitive, both with other big banks and with eBanks.
Benefits Of BarclayCard Card Machine
BarclayCard Card Machine is a great service with offerings for micro to small businesses. It’s primarily geared at businesses with £6,500 or less monthly turnover. If you have a higher turnover, BarclayCard will typically move you over to a different service.
- BarclayCard is a big bank with big bank trust and insurance
- You’ll benefit from a large customer support team and service hours
- Plenty of features and offerings, including support for international sales
- Integration into software and apps
- Development support available for integrations
- Choice of card machines
- You can negotiate lower rates as your sales increase
Essentially, Barclays does have a lot to offer. In fact, one of the biggest cited disadvantages of BarclayCard, its contract lengths, aren’t that out of the ordinary.
BarclayCard has a minimum of an 18-month contract. However, if you look to the next section, its contract rates are right about average.
BarclayCard Card Machine vs Competitors
BarclayCard’s closest competitors are Tyl by NatWest, Lloyds Bank Cardnet, Handepay, Tide, Takepayments, and Square. Let’s take a look at how they compare.
| Provider | BarclayCard | Lloyds Bank Cardnet | Tyl by NatWest | Handepay | Tide | TakePayments | Square |
|---|---|---|---|---|---|---|---|
| Cardreader Cost | £15.99-£29.99 per month | £21-£23 monthly or £54 upfront | Included in monthly | £10-£30 monthly | £79-£199 | Custom | £19-£599 |
| Monthly Fee | £4.80 per PCI DSS connection you need | Custom | £9.99+ | £9.99 | £0 | Yes | £0-£29+ |
| Transaction Fee | 0.75%-2.45% + 3p (£20 minimum service charge) | From 1.75% but usually custom | 1.39% + 5p - 1.99% + 5p | Included in monthly | 1.5%-1.95% | 0.3-2.5% | 1.75%-2.5% |
| Online Payment Gateway | £20 per month | Custom Pricing | £14.99 | £19.99 | NA | Custom | Free |
| Payouts | 1-3 business days | Next day | Daily | Next day | 1-3 business days | Next day | 1-2 business days, Instant |
| Contract Length | 18 months | 18 months | 12-18 months | 12 months or monthly | Monthly | 12 or 18 months | Monthly |
| Tap-to-Pay | Yes | Yes | Yes | No | Yes | No | Yes |
| Trustpilot Rating | 1.8 | 3.8 | 4.7 | 4.8 | 3.9 | 4.9 | 4.2 |
BarclayCard overall compares well to other high street banks. For example, card terminal hire is cheaper than at Lloyds Bank.
Rates for UK bank cards also start much lower at BarclayCard, because BarclayCard doesn’t offer a flat rate transaction fee. This means that if you primarily process UK debit and credit cards, BarclayCard could save you a lot over Tyl by Natwest or Lloyds.
However, BarclayCard will offer custom pricing based on your volume of sales, so nothing is set in stone.
Who Should Use BarclayCard Card Machine?
BarclayCard card machines include three options geared towards micro and small businesses. However, its card terminals also work for businesses of all sizes, providing you don’t need a full-service PoS.
That makes BarclayCard ideal for:
- Startups
- Freelancers and Contractors
- Small-scale service industry
- Small retail shops
- Hospitality
- B2B sales
In addition, its online payment gateway and app integration solutions mean BarclayCard is a great fit for online-only businesses.
Software-as-a-Service and app companies can definitely benefit from the ease of integration offered by the payment gateway.
Getting The Best Card Machine For Your Small Business
BarclayCard offers three card machines ranging from a micro solution to a point of sale. This makes the bank a great fit for small businesses and startups looking for a big bank. You’ll also only need one account with Barclays, as the bank can cover everything you need to accept and spend earnings. As an international bank, Barclays also offers room for scaling, and you can negotiate rates lower as you grow.
However, the best way to make sure you’re getting a great deal on your card machine is still to compare options. Use the form below to share which payment processing services you need, and we’ll request quotes from competitors, select the best ones, and pass the best deals on to you.