The recently-launched Barclays Company Car scheme covers all eligible employees including 3,500 who currently fund a vehicle under its existing employee car ownership scheme.
Bosses hope that by offering a wide range of cars and a high level of driver support they will encourage their staff back into company cars.
The scheme’s introduction follows the signing of a five-year deal with GE Commercial Finance, Fleet Services.
Catherine Redmond, head of employee reward & benefits at Barclays, said: ‘There are two good reasons why we are encouraging Barclays people undertaking significant business mileage to opt for a company car.
‘First, if their role involves regular driving, we want to be certain they are as safe as possible on the road. And second, Barclays wants our company car choices to be as environmentally-friendly as possible. Our main objective is to make the Barclays company car scheme as attractive as possible for our staff.
‘Our ongoing relationship with GE Fleet Services means that we are able to offer an excellent choice of vehicles with a very high level of driver support.’
The new scheme allows staff to choose from a range of cars from Audi, Mercedes-Benz, Saab, Toyota and Vauxhall.
It provides driver support to staff, a dedicated Barclays driver helpline and an online driver support facility.
Barclays fleet manager Caroline Sandall, who spoke at the Fleet News Hit for Six Conference in September on problems associated with running cash for car schemes, said: ‘Part of the unique structuring of the Barclays Company Car scheme relates to the creation of a CO2 ceiling, designed to encourage drivers to opt for greener cars.
‘Also central to our fleet policy is our focus on safe driving through the provision of guidance to all drivers.’