Barclays rainy day saver question.

mr._prude

I got sorted out after 4 days, the app had all its full features.

I had to register for online banking getting a customer number instantly.

Using this and the app for verification I got logged in online.

From there I enabled blue rewards and applied / opened the rainy day account 5.12%

Thanks again for everyones help.

mr._prude

Did not realise this was a regular saver type account. Where you can put 5k in on month zero and no need for further payments.

My question is can you skim off the interest over 5k say every few months?

Sensory

mr._prude said:

Did not realise this was a regular saver type account. Where you can put 5k in on month zero and no need for further payments.

My question is can you skim off the interest over 5k say every few months?

It’s not a regular saver account. Transfer the interest every month.

SanguineOnSaturn

Blue rewards cost is £5 per month and have to pay in £800 min into current account per month otherwise you lose blue rewards membership and Rainy Day reverts to instant access. Also no £5 cash reward if you have Rainy Day but the other benefits still apply.

julicorn

SanguineOnSaturn said:

Blue rewards cost is £5 per month and have to pay in £800 min into current account per month otherwise you lose blue rewards membership and Rainy Day reverts to instant access. Also no £5 cash reward if you have Rainy Day but the other benefits still apply.

You still get the £5 cash reward even if you have the rainy day saver, you just need to fulfil the requirements for the blue rewards membership. 

SanguineOnSaturn

julicorn said:

SanguineOnSaturn said:

Blue rewards cost is £5 per month and have to pay in £800 min into current account per month otherwise you lose blue rewards membership and Rainy Day reverts to instant access. Also no £5 cash reward if you have Rainy Day but the other benefits still apply.

You still get the £5 cash reward even if you have the rainy day saver, you just need to fulfil the requirements for the blue rewards membership. 

What is this referring to then?

"You won’t receive a monthly cash reward to your Blue Rewards Wallet for having a Rainy Day Saver account. Your existing monthly Blue Rewards aren’t affected and we’ll keep paying them into your Blue Rewards wallet"

surreysaver

mr._prude said:

Did not realise this was a regular saver type account. Where you can put 5k in on month zero and no need for further payments.

My question is can you skim off the interest over 5k say every few months?

How do you work that out? Its a normal account, just with a maximum limit for maximum interest. And a requirement to have Blue Rewards.

surreysaver

SanguineOnSaturn said:

Blue rewards cost is £5 per month and have to pay in £800 min into current account per month otherwise you lose blue rewards membership and Rainy Day reverts to instant access. Also no £5 cash reward if you have Rainy Day but the other benefits still apply.

Again, how do you work that out? You still get the £5 cash reward, as long as you have two direct debits every month. 

SanguineOnSaturn

surreysaver said:

iSanguineOnSaturn said:

Blue rewards cost is £5 per month and have to pay in £800 min into current account per month otherwise you lose blue rewards membership and Rainy Day reverts to instant access. Also no £5 cash reward if you have Rainy Day but the other benefits still apply.

Again, how do you work that out? You still get the £5 cash reward, as long as you have two direct debits every month. 

From their website.

"You won’t receive a monthly cash reward to your Blue Rewards Wallet for having a Rainy Day Saver account. Your existing monthly Blue Rewards aren’t affected and we’ll keep paying them into your Blue Rewards wallet"

Band7

SanguineOnSaturn said:

surreysaver said:

iSanguineOnSaturn said:

Blue rewards cost is £5 per month and have to pay in £800 min into current account per month otherwise you lose blue rewards membership and Rainy Day reverts to instant access. Also no £5 cash reward if you have Rainy Day but the other benefits still apply.

Again, how do you work that out? You still get the £5 cash reward, as long as you have two direct debits every month. 

From their website.

"You won’t receive a monthly cash reward to your Blue Rewards Wallet for having a Rainy Day Saver account. Your existing monthly Blue Rewards aren’t affected and we’ll keep paying them into your Blue Rewards wallet"

It merely says you don't get £5 for having a Rainy Day Saver account.

It does not say that your £5 reward you get for other transactions gets cancelled.