Barclays launches 5.12% linked savings account - here's how to get it

MSE_Ben_T

Barclays' has launched a new linked "Rainy Day Saver" savings account for Blue Rewards members, which pays 5.12% interest on balances of up to £5,000 – over double the top open-to-all easy access account. You need to jump though a number of hoops to get it though. Here's what you need to know.  

Read the full story here:

Barclays launches 5.12% linked savings account - here's how to get it

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Exodi

MSE_Ben_T said:

Barclays' has launched a new linked "Rainy Day Saver" savings account for Blue Rewards members, which pays 5.12% interest on balances of up to £5,000 – over double the top open-to-all easy access account. You need to jump though a number of hoops to get it though. Here's what you need to know.  

Read the full story here:

Barclays launches 5.12% linked savings account - here's how to get it

If you haven’t already, join the forum to reply.

The link is pointing back to this thread?

Noneforit999

Fortunately I had a Barclays current account that I rarely used but does have 3x direct debits coming out of it. Opened the blue rewards jobbie and will just stick £800 into the account each month and just move it back. Took a couple of minutes to open the Rainy Day saver. 

Exodi

If someone was to open a Barclays current account and cycle £800 to meet eligbility - would they be subject to a hard credit check?

soulsaver

Reported in the Top Easy Access discussion in September! (30th  lol).

And featured in the ToTP ranked top 20 ish easy access accounts since...
Click in my signature box takes you straight there.. 

ossie48

Many thanks. All done and £5k added .I'm a Barclays account holder anyway, joined blue rewards £5 monthly fee but £5 reward for two direct debits (we have a few already) so took a couple of minutes.

ischris85

Applied for Barclays account on the app. Had to book an appointment for Barclays to photocopy ID and proof of address only to be told the application is now under further review. Never had an issue opening bank accounts before (except FD which I was never eligible for even though I have an HSBC account).

Beige

EDIT: the information in the message is incorrect - £5 credit is being received.

I think the article might need a correction.

 "To become a member, you must pay at least £800 a month into your Barclays current account and pay a £5 monthly fee – though this is waived if you have at least two direct debits set up. You also need to be registered for online or mobile banking."

My dad said he has Blue Rewards, Rainy Day account and two DD's and he doesn't receive he "£5 reward each month for having two or more Direct Debit payments".  He told me he located the term in the T's&C's which states this, but I haven't been able to find it again.

Band7

Beige said:

I think the article might need a correction.

 "To become a member, you must pay at least £800 a month into your Barclays current account and pay a £5 monthly fee – though this is waived if you have at least two direct debits set up. You also need to be registered for online or mobile banking."

My dad said he has Blue Rewards, Rainy Day account and two DD's and he doesn't receive he "£5 reward each month for having two or more Direct Debit payments".  He told me he located the term in the T's&C's which states this, but I haven't been able to find it again.

He wouldn't get the 'waiver' if there isn't a deposit of at least £800 going into the account each month, in addition to two DDs going out. That £800 cannot come from a Barclays account in his own name, and can be withdrawn again instantly (leaving enough for the 2 DDs, obvs)

The 'waiver' is a credit which occurs into a separate Reward Wallet, on the same day Barclays debit the current account with £5. He can manually move the money from the Reward Wallet to the current account at any time.

The MSE article is correct but you should always go by the T&Cs of the bank - https://www.barclays.co.uk/current-accounts/blue-rewards-terms-conditions/

Beige

Band7 said:

The 'waiver' is a credit which occurs into a separate Reward Wallet, on the same day Barclays debit the current account with £5. He can manually move the money from the Reward Wallet to the current account at any time.

Thank you - you are correct and we were wrong.