BARCO - for barristers

Barrister Logo

The Bar's own escrow account.

Insured. Secure. Trustworthy.

BARCO has produced a guidance leaflet for barristers which provides necessary information about appointing and using the service. Many of the key points are summarised below and the leaflet is available to download here

To contact BARCO please call + 44 (0) 20 76114680 or email contact.us@barco.org.uk 

What does BARCO mean for me and my practice?

BARCO is a unique solution that makes it easier than ever before to work with the Bar whilst maintaining the Bar's high quality and cost effective services. It provides UK and international clients with a trustworthy and transparent vehicle to manage their legal costs; providing increased flexibility and adaptability for the Bar.

Who pays to use BARCO?

Normally, only the barrister. The exceptions are if a client decides to fund the provision of legal services with a credit or debit card (they will be charged approximately 2% of the value of the funds transferred) or if either party closes the account earlier than agreed.

International payments

BARCO works with Currencies Direct to enable international clients to pay into BARCO in their own currency. Currencies Direct converts the client's local currency into GBP at prevailing exchange rates and uses this payment directly to fund the specified BARCO account.

For further information email barco@currenciesdirect.com or call 0207 847 9229.

Interest

All interest earned whilst funds are in the BARCO account is passed on to the client.

*Further information on interest can be found in the Guidance leaflet available to download here.

Money laundering

BARCO has procedures and controls in place which are designed to forestall and prevent money laundering. BARCO will ask you to identify yourself and/or your entity along with your client(s) before opening an account.

Appointing BARCO

Subject to all parties having read, understood and signed the standard BARCO Framework Agreement, all parties to the Agreement agree to appoint BARCO as the payment service provider which is exclusively permitted to receive funds in accordance with the terms of the legal services agreement.

BARCO should receive the signed BARCO Framework Agreement and the legal services agreement at least 48 hours before receiving any funds but must have it within 24 hours of receiving the funds, or they will be returned to the sender unprocessed.

All parties agree that BARCO will provide payment services throughout the duration of the Agreement and that no payments will be made other than payments made to or by BARCO. In the event of conflict, the terms of the standard BARCO Framework Agreement take precedent over any conflicting terms contained in any other legal services agreement between a barrister and their client.

Bar Services Company Limited, trading as BARCO, is registered with the Financial Conduct Authority (FCA) in the United Kingdom (Firm Reference Number [FRN]: 589580) to carry on payment services activities under the Payment Services Regulations 2009 (PSRs). It is also registered with HM Revenue and Customs under the Money Laundering Regulations (MLR), MLR Registration Number: 12697968.