Some are ineligible but if people fulfil the criteria they could get the money in time for Christmas
Customers switching to Barclays can make up to £900 with a new deal. And the high street chain has said that people could get the money in time for Christmas.
Today (Tuesday, October 7), under a new current account deal, you can get £400 by switching to a Premier current account and depositing £4,000 within 30 days. The switch must be completed through the Current Account Switch Service.
To qualify for premier banking, you need to pay in a gross annual income of at least £75,000 or have a total balance of at least £100,000 in savings with Barclays in eligible investments, or a mix of both.
People can also get £200 for switching to one of its Blue Rewards bank accounts and depositing £2,000. Customers opening a current account would need to sign up to the blue rewards scheme for £5 a month. The scheme gives customers perks such as cashback on spending, enhanced savings rates and an Apple TV+ subscription.
You must also complete a “full switch” in the app, including at least two active direct debits.
Those who will not be eligible for the current account switch cash offer include customers who have an open current account with Barclays on or before the offer starts on October 7; customers who have taken up a switching offer from Barclays in the past; customers opening a joint account; under-18s; and customers living outside the UK.
Both of these offers apply to switches made before 27 November. On top of the current account offer, customers who make the switch may qualify for additional cash bonuses by moving their ISA savings.
The ISA cash reward is up to £500 per customer – but people would have to have saved £100,000 or more in the ISA to get that.
This means someone taking full advantage of the Barclays offers could receive £900 in rewards.
To get an ISA transfer reward, you need to already hold or open a Barclays current account and then use the ISA transfer-in service to move a minimum of £25,000 to one of Barclays’ cash ISA products.
How much you receive will be based on how much is transferred. To get the full £500, you need to transfer £100,000 or more.
By transferring £25,000 to £49,999.99, you will receive £100; and if you move £50,000 to £99,999.99, you can get £200.
The steps must be completed by 28 November to receive the ISA reward.
To use Barclays’ ISA transfer service, you need to select the “transfer-in an existing ISA” option in the app or online banking, or you can visit a branch.
The steps must be completed by November 28 to receive the Isa reward. To use Barclays’ Isa transfer service, customers can select the “transfer-in an existing Isa” option in the app or online banking, or they can visit a branch.
The reward payment will be paid to the customer’s Barclays current account within 60 business days after the completion of their last eligible transfer or 60 business days after November 28, whichever is sooner, the bank said.