Cancelling Barclays Blue Rewards

whalemoney

Hi I had to open a Blue Rewards account for a recent £175 bonus.  I've now been paid the £175 so I want to close the Blue Rewards. If I cancel it now, will I still be charged the £5 fee for December?

Thanks

northwalesd

When I cancelled it mid-way through November, I was not charged at the beginning of December.

The_Green_Hornet

When you can close Barclays Blue Rewards

You can cancel your Barclays Blue Rewards at any time either through Online Banking or with the Barclays app. If you do this before 5pm on the last day of the month, we won’t charge the next monthly fee. If you cancel within the first 14 days of receiving these Additional Conditions and you have already paid a monthly fee, we’ll refund the fee, unless you have already received any rewards into your Blue Rewards Wallet

Blue Rewards Terms & Conditions | Barclays

whalemoney

The_Green_Hornet said:

When you can close Barclays Blue Rewards

You can cancel your Barclays Blue Rewards at any time either through Online Banking or with the Barclays app. If you do this before 5pm on the last day of the month, we won’t charge the next monthly fee. If you cancel within the first 14 days of receiving these Additional Conditions and you have already paid a monthly fee, we’ll refund the fee, unless you have already received any rewards into your Blue Rewards Wallet

Blue Rewards Terms & Conditions | Barclays

Thanks.  I'd seen that on the app but it's still somewhat unclear.  The £5 fee they'll take on 1st January is presumably for using Blue Rewards in December?  So I'm unsure if when they say "we wont charge the next monthly fee" are they referring to Decembers fee (paid in January) or are they referring to January fee (paid in Feb). 

I'll cancel it any way, but just wanted to know so I could take all my money out.  I'll leave a fiver in as I reckon they're going to take it.

wiseonesomeofthetime

I'll cancel mine on 2nd or 3rd January, next week, once my Rainy Day Saver interest added and my £5 fee is moved to my Wallet.

Would have killed it today, but I do not trust Barclays to pay the correct interest on my Rainy Day Saver, if I did.

masonic

whalemoney said:

The_Green_Hornet said:

When you can close Barclays Blue Rewards

You can cancel your Barclays Blue Rewards at any time either through Online Banking or with the Barclays app. If you do this before 5pm on the last day of the month, we won’t charge the next monthly fee. If you cancel within the first 14 days of receiving these Additional Conditions and you have already paid a monthly fee, we’ll refund the fee, unless you have already received any rewards into your Blue Rewards Wallet

Blue Rewards Terms & Conditions | Barclays

Thanks.  I'd seen that on the app but it's still somewhat unclear.  The £5 fee they'll take on 1st January is presumably for using Blue Rewards in December?  So I'm unsure if when they say "we wont charge the next monthly fee" are they referring to Decembers fee (paid in January) or are they referring to January fee (paid in Feb). 

I'll cancel it any way, but just wanted to know so I could take all my money out.  I'll leave a fiver in as I reckon they're going to take it.

It's "the next monthly fee" rather than "next month's fee". If they took December's fee, they'd have no reason not to pay December's reward (but they don't do that either).

boingy

I've left enough in the account just in case they take the fiver next month. I don't think they will but they are not very good at making things clear!

friolento

You shouldn’t get charged in January if you cancel now. https://www.barclays.co.uk/content/dam/documents/personal/current-accounts/Additional_TandCs_BlueRewards_102016.pdf

wiseonesomeofthetime

But would your Rainy Day Saver, which changes to an Instant Access savings account at a lower rate, get credited with correct interest, if cancelled now? 🤔

Cannot find clarity on that. Just that it changes title and rate 🤷‍♂️

friolento

wiseonesomeofthetime said:

But would your Rainy Day Saver, which changes to an Instant Access savings account at a lower rate, get credited with correct interest, if cancelled now? 🤔

Cannot find clarity on that. Just that it changes title and rate 🤷‍♂️

I would say the terms are clear - you get the Rainy Day rate until they convert your account, which they will presumably do quite swiftly. As you'd almost certainly be wanting to move your money, you might as well do this right away, to save you the worry.