Some customers can get hundreds of pounds in bonus cash from Barclays
Barclays has set out the qualifying terms for securing a £200 bonus. The bank is offering a variety of incentives to entice customers to switch over to them. You could get up to £900 depending on which offer you choose.
One such deal is a £200 reward for switching to a Barclays Bank Account, which must be opened via their app. Customers are also required to sign up for Blue Rewards, which includes a monthly fee of £5.
To qualify for the bonus cash, several conditions must be met, including depositing £2,000 into the new account. A customer queried Barclays as to whether simply opening the account would be enough to qualify, or if the £2,000 deposit was also necessary to secure the £200 payment.
In response, Barclays confirmed that depositing the £2,000 is indeed a crucial part of the agreement. The bank informed the customer: “Part of the eligibility criteria is to add at least £2,000 to your new Barclays Bank Account.”
According to the Barclays website, customers must “pay at least £2,000 into their new Barclays account within 30 days of opening it. You can pay this in all at once, or over multiple instalments”.
The bank is also offering a £400 incentive for those who switch to a Premier Current Account. In this case, you need to make a deposit of £4,000 into the new account within the same 30-day period.
There’s also an opportunity to earn up to £500 by transferring ISA savings to Barclays, meaning customers could potentially receive up to £900 in total bonus cash. To qualify for either current account switch offer, you must request a full switch by 27 November, which should include at least two active direct debits.
The switch must be completed within 30 days of your request. You will receive either the £200 or the £400 current account switch payment into your new account.
This will be paid within 28 working days of meeting the eligibility rules. Barclays will send you a text once all the eligibility criteria have been met.
The cut-off date to request the ISA transfer to receive this payment is November 28.
