Barclays £175 switch offer - new customers only, Nov 1 - 30 2023

sparky0138

Quick question - does the Barclays Blue fee come out of the main account? Thanks.

Rawrzy

adamp87 said:

Do you need to pop £800 into the account? T&C’s are bit vague just says you must join Barclays Blue Rewards and I think I read a chat conversation someone had spoken to them and they confirmed you didn’t as long as you signed up for Blue Rewards.

just seen some nightmare posts elsewhere about Barclays freezing transfers/holds on the money so would rather not lose £800 for a week just in case

You don't need to for the Switch incentive, but you do if you want the money from Blue Rewards.

CRISPIANNE3

sparky0138 said:

Quick question - does the Barclays Blue fee come out of the main account? Thanks.

Yes it does but in my case I joined the rewards scheme on the 29 November and thought they would have taken the £5 fee in early December but pleasantly surprised this has not happened. 

Tonski

With all this compensation that Barclays will be paying out, alongside the actual switching bonus (if we ever get it), will Barclays actually make any money from this switching offer?

For the Barclays cashback rewards, is this only on the mobile app? I've had 2 lots of £10 and transferred them to my main account on the App but can't see anything when I log in to the website. Is this the same for everyone else or is there a way to set this up online?

Nasqueron

adamp87 said:

Do you need to pop £800 into the account? T&C’s are bit vague just says you must join Barclays Blue Rewards and I think I read a chat conversation someone had spoken to them and they confirmed you didn’t as long as you signed up for Blue Rewards.

just seen some nightmare posts elsewhere about Barclays freezing transfers/holds on the money so would rather not lose £800 for a week just in case

The £800 is to qualify for Blue Rewards - the incentive is paid by switching, including 2 active DD and joining Blue Rewards but only they could tell you if you join but don't actually "activate" it by paying in whether that qualifies. The terms do say if you don't pay in the £800 they will effectively freeze your membership so you don't get the fee / incentive for DD but also don't qualify for the cashback offer for these months

sparky0138

CRISPIANNE3 said:

sparky0138 said:

Quick question - does the Barclays Blue fee come out of the main account? Thanks.

Yes it does but in my case I joined the rewards scheme on the 29 November and thought they would have taken the £5 fee in early December but pleasantly surprised this has not happened. 

Thank you. This is why I asked. I joined on 30th November and haven't been charged either. I thought maybe they'd tried taking it out of the Blue account which is empty.

Zanderman

Tonski said:

With all this compensation that Barclays will be paying out, alongside the actual switching bonus (if we ever get it), will Barclays actually make any money from this switching offer?

They may not 'make money' from this, but that may not be their aim. The various switching offers of recent years, across many banks, seem, at least in part (possibly in whole) to do with improving statistics on the number of accounts held. The cost may not be something they worry about, as they may regard it as money well spent (though as we know on MSE there are a proportion of people who switch away again as soon as possible!).

Even they do do the sums they may still 'make money' as the budget to pay for the switches will be a promotional one - i.e. one set aside for marketing. Different budgets are often kept completely separate, so a marketing budget won't be necessarily be added into the sums of whether the new accounts have generated income,. 

Nasqueron

I wonder how many will actually complain as well? I had the 0002 blue rewards error, the bank transfer / account locked issue also but advice on here and a call to Barclays resolved it fine for me on the phone and their staff were helpful, I suffered no loss so why would I need compo?

Seldrima

Nasqueron said:

I wonder how many will actually complain as well? I had the 0002 blue rewards error, the bank transfer / account locked issue also but advice on here and a call to Barclays resolved it fine for me on the phone and their staff were helpful, I suffered no loss so why would I need compo?

I think it’s usually because people see time as a loss and the inconvenience is something they would not have incurred if they’d not had those problems. I know about 6 people who did the switch at work and all of them have complained and received compensation. Not the incentive yet though.

Jonx999

adamp87 said:

Do you need to pop £800 into the account? 

I just paid £800 into mine to be on the safe side - but now discover I can't transfer any money back out (I get a RPS01 error with a message saying try again in 4 hours). Hopefully it's just a glitch, but I wouldn't pay any money into the account that you can't afford to be without for a while.