Barclays £175 bank switch offer: can you get it?
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- Опубликовано: 31 окт 2023
- Barclays has announced a rare switch deal paying £175
Here's who can get them and how
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A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
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Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.
Thanks for letting us know on this platform, Andy 👍
Disappointed that existing customers do not get any incentives…
Change banks each year
Money SAving Expert Martin Lewis claims that if you've ever had a Barclays account before you cannot get this incentive? Who's right and who's wrong as the T's and C's are a bit misleading aren't they????
They're finally doing one! Ladies and gentlemen do not adjust your sets, Barclays are doing a switch offer and I'm applying now 😂
😂😂😂😂
Money SAving Expert Martin Lewis claims that if you've ever had a Barclays account before you cannot get this incentive? Who's right and who's wrong as the T's and C's are a bit misleading aren't they????
Can you make videos for spending accounts that I can create and online banking please 🙏
🎉Well done. Bank Man🎉
Hi Andy would you cover the government "Help to save" scheme that offers 50% on top of your savings, in your next video? Thanks.
Same issue with trying to apply via the app. Told I need an existing account/ not a great start from Barclays
Same here. Try again during working hours.
Lol already have Barclays, good stuff.
QUESTION 🙋♂️
Can I open this account, then do a switch WITHOUT transferring direct debits (my other switching account) and then manually change the direct debits for say my EE, Sly broadband direct debits that have been paid in going from my main account for years now?
Or do I NEED to change my EE and Sky broadband direct debits from my main account, to my switching account and THEN switch my switching account to Barclays?
Sorry for the confusion but I have done about 8 bank switch’s in the last 18 months and NOT one has needed or required direct debits but I am running out of easy switching account offers now.
I'm already with Barclays
A Catch-22...I couldn't open an account in the app. It takes me directly to registration process on opening. I then need to have a Barclay's Credit Card, Barclay's Debit Card, Barclay's Mortgage or Barclay's Investment Account. Of course I don't have any of these as I'm not a customer! Errr... Anyone else found this and know how to get round it?
How do you open a new account in the app? All the options are to access an existing account!
What, No. This is not fair. I’ve opened my account on 31st October 2023 (that too in the app) 😓🥶🥺.
Worth mentioning also regarding the eligibility, you won't qualify if you have held a Barclays current account before 31st October as well...
@stephen3654 I've contacted then this morning, I had an a current account with Blue Rewards closed in September and they refused me the £175 switch offer. It does also state on the t+cs you won't be eligible if you've held a current account before 31st October...
@@stephen3654 it does say it in the terms... You will not be eligible for this offer if: • You already hold a Barclays Basic Bank Account, Barclays Bank Account, Barclays Bank Account with a Personal Overdraft, Barclays Bank Account with Blue Rewards, Platinum Bank Account, Mortgage Current Account, or a Premier Current Account on the date of application or [before 31st October 2023]
@@stephen3654true
That's what MoneySavingExpert said, is that true as some people are saying that you'd be fine as long as you didn't hold one on 31.10 or after.
I had one but switched it mid October. Is it worth trying?
Just received £175 had a Barclays account March switched to Ulster for £200 .switch TSB to Barclays and received £175😊
The easy access saver pays how much interest? I can’t find the quoted 5% on their website
You get charged £5 for the account and get £5 blue rewards so basically don't get anything apart from the incentive. I'm leaving barclays for nationwide they were paying £200 to switch and you get this in 10 calander days
FYI I just got my switch cash for this. I started my application on 1st so this actually pays alot quicker than I expected. Hopefully in time for my other half to get her one done and the nationwide switch offer after
Same here. My switch completed on 14th and just got the cash today(20th)
I did switch on the app
Do we get text message next day regarding the switch?
Switch date 5 Dec cashback 13 Dec ✓
Hi Andy, if i currently have a Barclays JOINT account, can i switch from my personal (non-Barclays) account?
Done it all but when I enter details of my bank it says error try again later - too many people or is it being a c###. No service issues on their website so must be the latter!
Seems impossible to open an account in the app. Is it poorly worded and they mean register the account? There is no option to open an account
Same here. Try again during working hours.
Can’t help but notice the iOS and Android app lack the ‘I’m new to Barclays’ button to create an account… both Barclays and Barclay card app
Having the same problem! Someone mentioned it might be worth trying inside working hours so gonna try again tomorrow morning
@@kelvin3103 dam weird if they just delete the register button overnight.
Gutted not for existing, disappointed with that.
Will I get the bonus if I already have a joint account with them but switch from my sole current account from tsb
Is there a period to hold the account required? I’d rather not be tied to holding an account with a monthly fee, just encase.
Or is it possible to cancel the Blue Rewards after receiving the £175
It says if you pay 2 direct debits you receive five a month so it cancels out but dk about a period
Hi Andy, another good video. Am I being dumb? I have the Barclays app as I already have mortgage and barclaycard credit card. But there does not seem to be any option in the app to open a bank account. Under the products section there is only Insurance, loans and Barclaycard. Thanks.
I’m having the same issue. It was working fine earlier today, but unfortunately I couldn’t proceed with my application at the time. Went back on the App tonight (after midnight), and the option to open a new account no longer shows on the App. I am going to try again in the morning as, very often, you cannot apply for new bank accounts outside of working hours.
I had the same issue. I deleted the app and redownloaded it as a new customer and it was there. Ill re-add my cc account later. Also, when you open the account, at no point in the application process does it mention switching from an old account and then it just says the new account is open. But once the account is open there is an option to switch the old account to it in services.
@@r12studios72 thanks for the tip, what i have managed to do is on another phone of mine, install the app, then on first run of that it says about being a new customer and has let me open the bank account. but now cannot join blue rewards i just get error UD001 cannot process request. maybe im trying too soon. im hoping its not confused itself now having 2 mobiles. oh well we shall see 😕
I cant seem to see any "open new account" on the app. Even during business hours
Same :(
I just got rejected lol, it must be because I'm doing so many switches haha
Highly doubt it... Created 8 so far this year. Unless you're on more than that
I only have a credit card account with Barclays, can I do.the switching account
Can anyone explain how I get the 8 digit activation code for the app. I have applied via the app, been successful in opening the current account, but apparently you have to go into a branch to get the activation code! Am I missing something here?…..
Hi, there is no button to select ‘do you want to switch from another account’ on their app. Usually it’s quite obvious. Anyone else notice this?
I was looking for this comment. I can't see how to even open an account through the app, but that's one of the requirements for the switch offer. Did you manage to sort it?
@@justyouraverageguy9109 yes open the account using the app. Then once the app is open you can then go to ‘products’ select blue rewards scheme and then click ‘switch account’ on products page aswell. Then it’s 7 working days from when you start for switch to occur.
I switched from barclays to TSB a year ago, would I get the offer if I switch back from TSB to Barclays?
Hi Could Someone Help Me What Are The Quickest Direct Debits Too Get Fast Please For Bank Switching Thankyou
Plumb and moneybox savings apps, he has a video on it
Plum and moneybox
Moneybox and plum are easy to set up. Direct debits can come out of your account weekly.
I opened my account on 29th October 2023. Can I get the reward?
so you apply via app.. then open new account do switch? How are you meant to join blue rewards before doing switch barclays is so confusing
Open the account first via the app. Once the new account is showing in the app apply for blue rewards.
Question: I recently did the first direct switch. Could I switch from first direct to Barclays?
Yes!
@@comfortzone5618 thank you!!
Does having a credit card count as an existing customer, I've never had a current account before
barclaycard is a separate company so I would say, you are not a Barclays customer.
theres a few accounts i use that i dont want to close, so i need to open a new account to switch from. what are some good accounts to switch from?
Have you got an existing account with Halifax, Lloyds or Bank of Scotland? It’s super quick and easy to open and additional account with them (within the App) to use just for switching.
Try opening an additional account with one of your existing banks for switching. That way, you won’t have the hassle of setting up online banking, etc.
@@Chris_7796 good idea, i do have a halifax, which is mostly unused now due to their low interest rates, but i dont want to close it down completely. thanks. (halifax max number of current accounts is 3).
Do you get to pick the switch date or does it automatically process within 7 days starting the switch ?
I can confirm it is the latter, which is extremely unusual.
@stephen3654 my 2nd direct debit will be processed on the 27th. November from my old account, so start the switch on the 21st november do you think ?
@@adamnewbery9074 that 'should' be OK shouldn't it, just hope they don't pull the offer before then
Is the 5% cash back for any retailer or only Barclays partners?
For the moment, until approx the end of the year, I think it's every retailer
@@Alexroberts666 not sure how it works. I've spent with my nominated account and I can't see a pot where 5% of transactions has accumulated.
Is this how they treat existing costumers?! Disappointing..
Hi Andy, my partner and I have a joint Barclays Bank Account. Would we be eligible if we were to switch our sole current accounts?
I’m the same , just contacting Barclays now to try and find out
Sadly they said it’s still classed as a current account, joint or single. Said you have to be a new customer
@@charliejackson8567 Ah thanks for that Charlie. Bit of a shame really.
are there any banks that offer switching bonus without having to do any direct debits?
None of the Halifax/Lloyds/Bank of Scotland or RBS/Ulster/NatWest ones that ran earlier this year required direct debits. It’s a pain, isn’t it?
I had a Barclays account feb 23 and switched to Ulster . Would I be eligible for switching incentive? Never had incentive from Barclays.Thxs
If you closed or switched out your old Barclays account before 31/10/23, you should be ok 😊
Just received £175 today 😎
@@Chris_7796 thanks just received
@@Chris_7796 thxs for your input just received another £175 for myself ! Going off your reply.
Do I need to pay £800 in blue rewards to get the £175 offer or is that just separate for the £5 benefit?
I want to know this as well
@@Splirono you don’t need too, mine came in without joining
I tried to open the account so I downloaded the app and it only shows register for the app
Apparently it should show another button saying I am new to barclays
Same here. Try again during working hours.
@@Chris_7796 thanks xx
Can the £800 a month requirement be put transferred in and taken out immediately?? Or does it need to remain at least a day in the account? Cheers Andy or anyone here
Did you get an answer to this as I'm also interested
Yh u can take it straight out
@@eprep9745 thanks. What about the barclays rewards £5 is that taken out 1st of every month? I only opened my account last week so was hoping the 5 pound fee wouldn't kick in until I've had at least a month to get the 2 monthly direct debits paid out
WARNING, when we transfer money £800 in via banking app it took over four days before Barclays approved/updated our app to transfer money out.
If you have a Barclays ISA ?
That’s what I’m wondering , I had Barclays 3 years ago but my isa is still open despite not having a current a count with them
Do you need to switch two direct debits or can you set up two after switch?
You need to move over at least two direct debits as part of the switch
So a yearly paying direct debit is not eligible 😮😢
No. The direct debits you switch over need to come out of your new Barclays account in the 28-day window between the switch completing and cash reward being paid. I confirmed this with Barclays today.
Has anyone been paid out this bonus yet as this one is taking the longest ?
Had the same issue, switch completed on the 11th and after asking they cannot give confirmation when it will be paid or let me know any issues. Met all criteria so no reason, just frustrating to check app everyday and guessing when it if it will be paid
Banks never reward loyal or existing customers. Pathetic
That;s the rule across all service providers - Broadband , Mobile , TV ! No incentive for existing customers. It is all about acquiring new customers for a fee.
@@ExamTricksTips2023 agreed. I guess that stats prove majority of people do not switch so they have no need to incentivise existing customers to stay.
stop being loyal then.
@@FirstLastth I’ve completed about 5 bank switches this year with my dummy account so main account has remained set for now
What's the best way to recover from the credit score drop coming from opening a new account?
Time! Your score will bounce back in 3-6 months’ time as long as you don’t open any more accounts in the meantime or have any negative “events” such as missed payments. Experian score seems particularly sensitive to these changes. My Equifax score didn’t budge despite 5 new accounts, and my Transunion score only dropped very slightly. However, my Experian score has recently dropped by almost 200 points due to these new “credit” accounts being added (double whammy of a couple of hard searches and numerous new accounts) Remember the score is just an indication of the health of your credit report and something that Experian in particular likes to “sell” to us, and it’s the content of your report that matters more so than the “score” itself 😊
@@p-kt6ee this is definitely a way for them to make money... 175-200£ is nothing next to the thousands they can win as a result of higher interest mortgage, loans, etc terms.
Not bad if you're not going to need to borrow money in the near future tho..
Hello and good morning and thank you for the video. I have just started a charity in which I aim to help people mental with health issues. I was wondering if there was anywhere I could get funding in the UK ? I would be grateful for genuine help as I got scammed off someone on RUclips earlier this year. Thanks George
I have a mental health issue and was reported to CiFas by Barclays for the claim they filed without my express permission.
??@@Rosa-sw8nw
Don't bank on Apartheid