BARCO - for clients

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The Bar's own escrow account.

Insured. Secure. Trustworthy.

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

If you are an international client and would like to find out more information about how BARCO supports working with English barristers, click here.

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

Who pays to use BARCO?

Normally, only your barrister. The exceptions are if you decide to fund the provision of legal services with a credit or debit card (when you will be charged approximately 2% of the value of the funds transferred) or if you close the account earlier than agreed.

Additionally, all costs incurred in sending or arranging the transfer of the funds remains your responsibility.

International payments

If you are an international client, BARCO works with Currencies Direct to enable you to pay into BARCO in your own currency. Currencies Direct converts your 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 you.

*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 company before opening an account and appreciates your cooperation.

If BARCO suspect that a client is committing a money laundering offence as defined by the Proceeds of Crime Act 2002 and Money Laundering Regulations 2007, BARCO will in accordance with its legal responsibilities disclose the suspicion to the Serious Organised Crime Agency ('SOCA').

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.