Barclays Blue Rewards & Rainy Day Saver

frugalandsave

Hi,

im considering opening a Barclays Current Account in order to gain access to the Rainy Day Saver which pays 5% ish of interest, 

For this I need to join Blue Rewards, will it be sufficient if i just shift £800 monthly from my other main Bank account (Lloyds) to the Barclays account, in order to gain the £5 monthly "reward"?

Thanks

phillw

frugalandsave said:

For this I need to join Blue Rewards, will it be sufficient if i just shift £800 monthly from my other main Bank account (Lloyds) to the Barclays account, in order to gain the £5 monthly "reward"?

That would meet the funding requirement, though you also need two direct debit payments to go out of the account every month as well.

ColdIron

frugalandsave said:

For this I need to join Blue Rewards, will it be sufficient if i just shift £800 monthly from my other main Bank account (Lloyds) to the Barclays account, in order to gain the £5 monthly "reward"?

Yes that would be fine, don't forget the DDs and the £5 charge to negate the monthly "reward"

flaneurs_lobster

ColdIron said:

frugalandsave said:

For this I need to join Blue Rewards, will it be sufficient if i just shift £800 monthly from my other main Bank account (Lloyds) to the Barclays account, in order to gain the £5 monthly "reward"?

Yes that would be fine, don't forget the DDs and the £5 charge to negate the monthly "reward"

Set up 2 DDs on the 28 Nov when I opened the Blue Rewards Saver. Checked my account today and the first RNLI (bless them) debit wasn't taken until 3 Jan. So that's cost me a fiver in lost "Reward" for December (a month's interest is 22 quid). 

phillw

flaneurs_lobster said:
Set up 2 DDs on the 28 Nov when I opened the Blue Rewards Saver. Checked my account today and the first RNLI (bless them) debit wasn't taken until 3 Jan. So that's cost me a fiver in lost "Reward" for December (a month's interest is 22 quid). 

Yeah, it's better to switch it on at the start of the month and do a couple of paypal transactions (same for natwest/rbs reward accounts).

ColdIron

flaneurs_lobster said:

ColdIron said:

frugalandsave said:

For this I need to join Blue Rewards, will it be sufficient if i just shift £800 monthly from my other main Bank account (Lloyds) to the Barclays account, in order to gain the £5 monthly "reward"?

Yes that would be fine, don't forget the DDs and the £5 charge to negate the monthly "reward"

Set up 2 DDs on the 28 Nov when I opened the Blue Rewards Saver. Checked my account today and the first RNLI (bless them) debit wasn't taken until 3 Jan. So that's cost me a fiver in lost "Reward" for December (a month's interest is 22 quid). 

Was the reward and interest actually paid? When I set it up back in 2015 they gave me a months grace

When I set it up again in October my first DD went on 24/10 but the second not until 01/11 and yet I got my RDS interest on 01/11 and the reward on 02/11