Barclays Current Account and Blue Rewards

eskbanker

Tildaplum said:

Can't believe the Eight Pages of posts on this it is very simple..

Jan - you turn on blue rewards - any day will do -  nothing happens (other than you get a welcome email)

Feb on the 2nd or thereabouts you get charged £4 - nothing else happens

Mar - on the 2nd or thereabouts you get charged £4.   In addition the blue rewards system looks at the previous month i.e. February and checks a. have you paid £4  b. have you paid in £800. If so you get paid rewards based on February direct debits etc

And so on.

You missed:

Apr - start a hysterical thread about how 'outraged' you are that these 'crooks' are 'scandalously' running a 'scam' and spend three hours pursuing them on the phone before taking it up in writing.

For.  Four.  Pounds.

quirkydeptless

This is the best switching deal I have got, being able to switch twice to keep it going for two years, and it will keep paying me  £3 gain each month after that.

I reckon it will gain me £252 in the first two years. Oh, sorry, this thread has made me realise I must have been scammed, as they charged me for an extra month, which was £3 then, so I'll only get £249

Tildaplum

I can feel a post coming on about how Barclays have somehow swindled you out of £4 in that you paid £4 in February and got nothing. what happens is when you leave blue rewards you get it back so for example:

Sept - you turn off blue rewards - any day will do -  nothing happens (other than you get a goodbye email)

Oct - on the 2nd or thereabouts you do NOT get charged £4.   In addition the blue rewards system looks at the previous month i.e. September and checks a. have you paid £4  b. have you paid in £800. If so you get paid rewards based on Sept direct debits etc

End run. Stop. Exit.

wmb194

I received the reward after the first month of operation. As someone else said, as long as you make the deposit and the DDs come out AFTER you’ve activated it you will receive the reward for the first month. I’m impressed that so many people in this thread got it wrong.

colsten

Tildaplum said:

.........
Oct - on the 2nd or thereabouts you do NOT get charged £4.   In addition the blue rewards system looks at the previous month i.e. September and checks a. have you paid £4  b. have you paid in £800. If so you get paid rewards based on Sept direct debits etc.......

I am not sure this is what would happen. I reckon that once you turn off Rewards, the blue rewards system won't be looking at your account any longer. I won't be trying out whether my theory is right  -  why would I want to turn off the Rewards system whilst it pays me free money every month........................

soulsaver

And just to clarify the Club Lloyds position - you get a 'by' in the first month  - fee waived even though you may not have fulfilled the preceding month requirement. 

xlnc99

Even after all this - there is still confusion and conflicting answers. Some say you always get charged £4 no matter what for the first month, others say you will get your rewards if you switched it on before the DD comes on.

All very clever from Barclays - hats of to them. 

For me £4 is alot

EarthBoy

xlnc99 said:

Even after all this - there is still confusion and conflicting answers.

The only person confused is you. The answers are in the terms and conditions, but for some reason you won't read them. 

20SmthngSver

afis1904 said:

I think they have the fee just in case someone doesn't fulfill the conditions as well as making it easier to class it as cashback for tax reasons.

And yeah you can just transfer the money in and out in the same day.

They have the fee to make money lol. We'll give you £7 but we'll take £4 back. They could simply charge £1, but they upped it from £3 to £4. 

colsten

20SmthngSver said:

They have the fee to make money lol. We'll give you £7 but we'll take £4 back. They could simply charge £1, but they upped it from £3 to £4. 

How are they making money by giving me £7(*) and taking £4 back? Looks to me that they are losing three quid every time they do this, at least on my account with them. Which is the only account I have with them, and it never goes below £0. Once they stop giving me £7, I'll be closing the account, or at least removing the Blue Reward from it.

(*) Right now, they are even giving me £14, and are still only taking £4 back. So they are actually ten quid down each month.