Barclays is offering new current account customers a £175 incentive if they switch to the bank.
It’s a limited-time-only offer, with eligible switchers needing to do so before November 30 to qualify for the cash.
Switchers can also benefit from a 5.12 per cent AER interest rate on savings, which existing customers who are Barclays Blue Rewards members can already enjoy.
This is via the Rainy Day Saver account, with this rate applying on the first £5,000 of the balance.
Barclays Blue Rewards members can also benefit from a 5.12 per cent AER interest rate on savings via the Rainy Day Saver
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Eligibility criteria and terms and conditions apply for the £175 switch deal, but Barclays states people need to either open a Barclays Bank Account in the app and join Barclays Blue Rewards or join Premier Banking by opening a sole Premier Current Account in the app.
They will then need to complete a full current account switch in the Barclays app, including at least two active Direct Debits, via the Current Account Switch Service.
Switchers will need to start the process before November 30 and complete it within 30 days.
They will then get £175 paid into the new current account within 28 working days.
Would you like a financial expert to answer your savings query? Get in touch by emailing the money team at [email protected].
To open a Barclays Bank Account or Premier Banking, customers need to be aged 18 or older and a UK resident.
Eligibility rules and conditions apply to join Barclays Blue Rewards, and it comes with a £5 monthly fee.
Barclays is not the only bank or building society to offer cash incentives to switchers.
Nationwide Building Society is currently paying switchers £200, and there is also the opportunity to enjoy an eight per cent interest rate on regular savings.
Nationwide Building Society is currently offering £200 to switchers plus access to an eight per cent interest rate on regular savings
NATIONWIDE BUILDING SOCIETY
Additionally, first direct pays £175 to qualifying switchers.
Lloyds Bank is offering a free £175 for those who decide to switch to a current account with the bank.
HSBC is also offering a free £205 for those who open two accounts.
However, time is running out as this deal is ending today at 11.59pm.
Robert Johnson is a UK-based business writer specializing in finance and entrepreneurship. With an eye for market trends and a keen interest in the corporate world, he offers readers valuable insights into business developments.
