Shieldpay

Why Shieldpay?

We give you peace of mind when using your Barclaycard money transfer to pay someone you don’t know. We verify the identity of both parties and hold money securely in the Shieldpay vault until you confirm you’re happy to release it.

When would I use it?

Release the money when you’ve got the keys to the car.

Pay builders and freelancers on completion of the task.

Protect your money until you know your purchase is as advertised.

How does it work?

What does it cost?

Payment method Cost per transaction
Bank transfer £5
Debit/Credit card 1%*

*Minimum fee of £5. Offer is available until 31st March 2020. Subject to conditions below. Any transfers you make after the offer period will be at the standard Shieldpay fees.

I paid a builder with Shieldpay. It protected me as I only released the payment when I was happy with his work.

Millie, Barclaycard holder

I used Shieldpay when buying my Mini. They confirmed the seller was legitimate and kept my money safe until I had the car keys.

Paul, Barclaycard holder

Common questions

We give you peace of mind when you’re paying someone you don’t know – like when you’re using your Barclaycard money transfer to pay a contractor or freelancer, or to buy a car from someone you’ve just met.

We verify the identity of both sides of any transaction, your money is held securely in the Shieldpay vault and only released when you confirm you’re happy with the goods or service.

Shieldpay verifies the identity of all users, so that you can transact with total confidence. We keep your money safe in the Shieldpay vault (where your money is held securely in escrow) until both parties agree they are happy.

Our fee includes these benefits for your peace of mind.

When you pay someone you don’t know using Shieldpay, your money is held securely in the Shieldpay vault - an ‘escrow account’.

Escrow is where a third party (in this case, Shieldpay) holds funds in safekeeping for two other parties carrying out a transaction, and only releases the funds when both parties confirm they're happy.

Anyone that uses Shieldpay to send or receive money is verified using bank-grade security checks. This means you can have total confidence that everyone has been verified with our robust Know Your Customer (KYC) or Know Your Business (KYB) checks, so you always know the person or business you're dealing with is legitimate.

Once the buyer has funded the Shieldpay vault, we will only release the funds when both buyer and seller have agreed they’re happy to do so. This means both sides are protected, in any transaction.

We also verify that the bank account used to receive the funds from Shieldpay actually belongs to the Shieldpay account holder.

And, if anything doesn’t go to plan and you haven’t released funds from the Shieldpay vault, we will be on hand to help resolve any dispute.

Whoever initiates a Shieldpay transaction is responsible for paying the Shieldpay fee.

When sending funds to someone, you will be able to take advantage of your exclusive Barclaycard rate, with fees from as little as £5.

A flat £5 fee applies to any payment you send when you transfer money to Shieldpay via bank transfer. When paying with debit or credit card, there is a 1% fee on the payment amount and a minimum fee of £5.

This Barclaycard offer expires 31st March 2020, and after that any transfers will be at the standard Shieldpay fees.

Either side of a Shieldpay transaction can raise a dispute, as long as funds are still held in the Shieldpay vault.

If you’re not able to reach a resolution, then let us know – we’re happy to step in and assess the situation, as an independent third party, to help resolve the issue. If that still doesn’t work, we can refer you to our chosen arbitration service, the Centre for Effective Dispute Resolution, also known as CEDR.

It’s important you let us know you are disputing the transaction as soon as possible, so we can freeze the transaction and hold the funds in the Shieldpay vault.

We’ll continue to hold the funds securely until both sides agree they’re happy to release them, or a final decision has been made, either between you and the other side, or by CEDR where the dispute has gone to arbitration.

Ready to go?

Get started

Shieldpay fees

Transaction value Cost per transaction
Under £100 £3
£100 - £1,000 2.5%
£1,000 - £5,000 2.0%
£5,000 - £50,000 1.5%
£50,000+ 1%

High value transaction? Get in touch for a quote.

Shieldpay fees

Transaction value Cost per transaction
Under £100 £3
£100 - £1,000 2.5%
£1,000 - £5,000 2.0%
£5,000 - £50,000 1.5%
£50,000+ 1%

High value transaction? Get in touch for a quote.

*This exclusive offer is only available to new Shieldpay customers. The 1% promotional rate will be available 180 days from opening your Shieldpay account. This offer cannot be used in conjunction with any other promotional offer, or where the Shieldpay product is integrated on partner sites. Shieldpay may change, or end, promotional offers at any time. Subject to status and our usual Terms and Conditions. UK residents only. By signing up on this page and clicking continue, you will automatically enrolled for this special offer. *Fund the Vault with Credit and Debit Card, Pay by Bank App or Bank Transfer (Offer excludes Paypal and Amex)

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