Barclays Blue Rewards

Ed-1

GTR_King wrote: »

I have a standard Barclays current A/C

is Barclays Blue Rewards worth it??

Will your current A/C Change to Barclays blue Reward A/C In online banking & on statements Etc?

or is it another A/C you open??

From what I understand, opting into Blue Rewards (although I'm not sure the option is there on internet banking yet, just on mobile apps) opens an additional 'account' wallet (i.e. it's not a proper account, just a 'wallet'). As long as you meet the Blue Rewards conditions on a qualifying Barclays current account you will receive the Blue Reward benefit into your Blue Rewards wallet which you can then withdraw into one of your current accounts. I'm not sure if you nominate a specific current account to link to Blue Rewards if you have more than one though - which one would they take the £3 fee from?

I've only just blooming switched my Barclays current account out a couple of days before they announced this so will have to apply for a fresh one to get Blue Rewards, but I don't think all my recent searches with YB and RBS group (for that switching offer) will do my credit check much good.

tedders

GTR_King wrote: »

I have a standard Barclays current A/C

is Barclays Blue Rewards worth it??

Will your current A/C Change to Barclays blue Reward A/C In online banking & on statements Etc?

or is it another A/C you open??

You don't change your account at all.

You just sign-up for Blue Rewards membership, on top of your existing account. The Blue Rewards account isn't a bank account, it's just a digital wallet where they pay you a £7/month reward (or more, depending which other products you have with Barclays). And of course, after you pay them £3/month for the Blue Rewards membership :-)

tedders

Ed-1 wrote: »

I'm not sure if you nominate a specific current account to link to Blue Rewards if you have more than one though - which one would they take the £3 fee from?
.

They ask you to confirm which account you want the £3 fee taken from, when you sign up. The default option is your current account.

sazandy25

Anybody know if you can transfer the £800 in and out and still get the reward. Other direct debits elsewhere, not worth moving all, just setting up £1 to paypal etc

anoncol

sazandy25 wrote: »

Anybody know if you can transfer the £800 in and out and still get the reward. Other direct debits elsewhere, not worth moving all, just setting up £1 to paypal etc

Thats what i'm going to do.

banjobob59

If the £7 (£4) reward is gross and we have to declare it in our tax return. Could we not just leave it in the rewards wallet until next financial year 2015/2016 when the £1000 tax free interest allowance starts and then transfer it into the bank account of our choice.

grumbler

banjobob59 wrote: »

...Could we not just leave it in the rewards wallet until next financial year 2015/2016 when the £1000 tax free interest allowance starts...

How come the reward is interest?

FOREVER21

banjobob59 wrote: »

If the £7 (£4) reward is gross and we have to declare it in our tax return. Could we not just leave it in the rewards wallet until next financial year 2015/2016 when the £1000 tax free interest allowance starts and then transfer it into the bank account of our choice.

A good point ,but as tax is due when any money is received, could HMRC deem that the time the money was paid ie put into the new "rewards wallet", is the date of receipt?

B_G_B

Option to sign up now appears on online banking. Either when logged on or before logging on from Homepage - personal - bank - account services.

Haven’t tried signing up yet. I’ll get a couple of DDs sorted first.

banjobob59

Regarding Direct Debits. Can I have 2 direct debit requests from my Tesco online savings. I have one request from Tesco to Lloyd's Club. Will Tesco online savings account allow me to set up a further direct debit with Barclay's. In effect having two separate direct debits serving the one Savings account.