Barclays Blue Rewards

Broadwood

Steve_xx wrote: »

No, the £7 isn't taxed at source, but tax may be payable on it and if you look back through this thread you will learn the detail of what we think needs to be done.

We have a joint Barclays current account. I work and pay BR tax while wife is a "domestic engineer" and pays no tax. So to avoid the £7 being subject to tax, Blue Rewards has been set up by the wife in her name and linked to the joint current account.

Result is - no tax to pay on the £7 as wife earns loads less than her £10600 personal allowance from all "our" savings accounts that are solely in "her" name.

All quite legal and above board

benn25

Just joined. Too good to be true getting £4 back for doing nothing. Interested in their cashback deals aswell.

Just reading some comments. The lady in my local branch told me about this today and said the 800 had to be wages/recurring payments over 800 and the 2 direct debits had to be recurring. Not sure if this covers all possibilities or whether it was based on my own activity?

grumbler

benn25 wrote: »

The lady in my local branch told me about this today and said the 800 had to be wages/recurring payments ... 2 direct debits had to be recurring.

What does 'recurring' mean in this context?

Instead of asking lady for some vague comments, simply check the website:.

We’ll pay your Loyalty Reward into your Rewards Wallet on the same day, as long as you’ve paid in at least £800, paid out at least 2 Direct Debits and paid your £3 monthly fee.
...
We'll check your chosen account on the first working day of each month to make sure that you did the following in the previous month:

• Paid in at least £800 (conditions apply) – you can read the terms and conditions by selecting 'View my rewards details' on your rewards homepage*
• Paid out at least 2 Direct Debits
• Paid the £3 monthly fee

*This page says:

When working out how much you have paid into the account, we will ignore:

* Amounts received from other personal Barclays accounts in your name, including any joint accounts or savings accounts.
(If money is paid in from a Barclays Business Account, this will count towards your qualifying amount)
* Amounts paid out from your Rewards Wallet
* Any interest that we pay you
* Any refunds you receive from us.

The fee gets taken automatically.

benn25

grumbler wrote: »

What does 'recurring' mean in this context?

changed it for you

Instead of asking [STRIKE]lady[/STRIKE] me for some vague comments, simply check the [STRIKE]website[/STRIKE] english oxford dictionary:.

recurring means occur again periodically or repeatedly.

bsms1147

benn25 wrote: »

recurring means occur again periodically or repeatedly.

Every twelve months good enough then?

grumbler

benn25 wrote: »

changed it for you

Instead of asking [STRIKE]lady[/STRIKE] me for some vague comments, simply check the [STRIKE]website[/STRIKE] english oxford dictionary:.

recurring means occur again periodically or repeatedly.

In finances recurring payment normally means payment periodically made/taken by the same company/person, e.g. SO, DD, CPA.

So, according to you definition, does £800+ have to come from the same source?

carmina_piranha

benn25 wrote: »

Just joined. Too good to be true getting £4 back for doing nothing. Interested in their cashback deals aswell.

I also get £5 per month from Halifax for doing nothing, then I send some of that money to Barclays to get the £4 off them, and some of it to Santander to get the 123 cashback on my utility bills :T

vacheron

carmina_piranha wrote: »

I also get £5 per month from Halifax for doing nothing, then I send some of that money to Barclays to get the £4 off them, and some of it to Santander to get the 123 cashback on my utility bills :T

Ditto. My pay goes into Halifax for the £5 reward, then £800 goes by standing order the next day to Barclays for £13 (£7+£5 as our mortgage is with them) then the day after that the same £800 goes over to Santander to meet their £500 eligibility for the 123 account and stays there earning 3%.

book12

According to the staff and website, you get the 'full' £7 a month once criteria is met, not £4. Therefore, £3 monthly fee taken off first, then £7 credited to thd rewards wallet.

Steve_xx

book12 wrote: »

According to the staff and website, you get the 'full' £7 a month once criteria is met, not £4. Therefore, £3 monthly fee taken off first, then £7 credited to thd rewards wallet.

You still end up with just £4 no matter how you like to state it!