Barclay's Blue Rewards Removing £5 Reward

allegro120

jameseonline said:

WillPS said:

jameseonline said:

MasterplanC said:

Is there any way to set up leaving Barclays Blue Rewards by the end of August now? On the app it seems I can only cancel immediately, which is not what I want to do. (The DD & mortgage bonus is still worth it for now and I might as well use Apple TV for July & August.) A bit sucky they are changing the rules and it's not possible saying I don't agree with the rule change and hence want to leave when they take effect.

Not aware of any bank scheme where you can schedule your leaving date.

Club Lloyds you cancel/downgrade your account.
Santander you cancel/downgrade your account.

So when you want to leave Barclays Blue you literally just select the cancel option and it's done, if you have the rainy day it won't instantly get downgraded but you will not be eligible for the rate of it either, for some unknown reason they haven't changed mine to a poorer rate account even though they said they would, months ago.

You get about 6 month's grace with the Barclays Rainy Day Saver, then they give you a fair bit of notice they're going to change it to a 'normal' savings account.

The only way I can think of to 'schedule' to leave is to CASS away - which you can normally schedule up to about 40 days in the future.

6 months can't be right, either way I stopped using blue rewards ages ago, so they've had plenty of opportunity to downgrade the savings account, they even contacted me saying sorry for the delay and they had to send me updated communication about it because they messed up, I emptied the thing twice, once to get rid of all the balance then again because of an interest payment, been 0 balance for a while now too 

The same here. I've used Rainy Day since it was launched until the rate stopped being competitive. My balance stayed at £0 for almost a year now.  Blue Rewards will have to go and I won't be disappointed if they turn my Rainy Day into something else.  I'll keep the current account with DDs running is case any miraculous switching opportunity comes along. 

locky123

When is best to cancel the Rewards, sometime in August or 3 Sepember? The below is from becleverwithyourcash.com.

The last bonus payment for Blue Rewards will be made on 3 September, but this reflects the fee and actions taken in the previous month. You presumably need to have Blue Rewards active to get the £5 payment, so you’ll need to keep your account open until then.

But the payment for September wll be taken from your account on the second working day of the month, which this year will also be 3 September.

So it’s unclear if you can avoid paying a £5 reward at some point. It appears that you either cancel in August and don’t get the payment in September, or you cancel in September when there’s no reward due in October.

WillPS

locky123 said:

When is best to cancel the Rewards, sometime in August or 3 Sepember? The below is from becleverwithyourcash.com.

The last bonus payment for Blue Rewards will be made on 3 September, but this reflects the fee and actions taken in the previous month. You presumably need to have Blue Rewards active to get the £5 payment, so you’ll need to keep your account open until then.

But the payment for September wll be taken from your account on the second working day of the month, which this year will also be 3 September.

So it’s unclear if you can avoid paying a £5 reward at some point. It appears that you either cancel in August and don’t get the payment in September, or you cancel in September when there’s no reward due in October.

Almost the same as I said upthread:
https://forums.moneysavingexpert.com/discussion/comment/80855152/#Comment_80855152

If you want to make use of the Rainy Day Saver, Cashback and Apple TV (+MLS Season Pass) for as long as possible, cancel at the end of September. If you're not bothered then it doesn't matter, so long as you make sure your reward for the present month has already been paid when you cancel.

pfpf

WillPS said:

jameseonline said:

WillPS said:

jameseonline said:

MasterplanC said:

Is there any way to set up leaving Barclays Blue Rewards by the end of August now? On the app it seems I can only cancel immediately, which is not what I want to do. (The DD & mortgage bonus is still worth it for now and I might as well use Apple TV for July & August.) A bit sucky they are changing the rules and it's not possible saying I don't agree with the rule change and hence want to leave when they take effect.

Not aware of any bank scheme where you can schedule your leaving date.

Club Lloyds you cancel/downgrade your account.
Santander you cancel/downgrade your account.

So when you want to leave Barclays Blue you literally just select the cancel option and it's done, if you have the rainy day it won't instantly get downgraded but you will not be eligible for the rate of it either, for some unknown reason they haven't changed mine to a poorer rate account even though they said they would, months ago.

You get about 6 month's grace with the Barclays Rainy Day Saver, then they give you a fair bit of notice they're going to change it to a 'normal' savings account.

The only way I can think of to 'schedule' to leave is to CASS away - which you can normally schedule up to about 40 days in the future.

6 months can't be right

What are you basing that upon?

I closed Blue Rewards on October 25th 2022 (in order to sign up to Premier Avios Rewards). At the time the only way to be eligible for Rainy Day Saver was to have Blue Rewards, there was no exemption for Premier customers until late last year. Despite that, the Rainy Day Saver remained open

Then, on April 18th 2023 (just shy of 6 months later!) they gave notice the Rainy Day Saver would change in to an Everyday Saver on June 19th 2023 (so 8 months since I was last eligible) unless I reopened Blue Rewards in the meantime.

So, yes, it can be right - whether or not that remains the timescale is anyone's guess, but I'm not pulling figures out of nowhere.

brilliant. just closed Blue Rewards which disappeared from online banking straight away, sort of expected to see the %rate in the RDS reduce straight away too. interesting that we may still have a few months at the higher rate. 

surreysaver

pfpf said:

WillPS said:

jameseonline said:

WillPS said:

jameseonline said:

MasterplanC said:

Is there any way to set up leaving Barclays Blue Rewards by the end of August now? On the app it seems I can only cancel immediately, which is not what I want to do. (The DD & mortgage bonus is still worth it for now and I might as well use Apple TV for July & August.) A bit sucky they are changing the rules and it's not possible saying I don't agree with the rule change and hence want to leave when they take effect.

Not aware of any bank scheme where you can schedule your leaving date.

Club Lloyds you cancel/downgrade your account.
Santander you cancel/downgrade your account.

So when you want to leave Barclays Blue you literally just select the cancel option and it's done, if you have the rainy day it won't instantly get downgraded but you will not be eligible for the rate of it either, for some unknown reason they haven't changed mine to a poorer rate account even though they said they would, months ago.

You get about 6 month's grace with the Barclays Rainy Day Saver, then they give you a fair bit of notice they're going to change it to a 'normal' savings account.

The only way I can think of to 'schedule' to leave is to CASS away - which you can normally schedule up to about 40 days in the future.

6 months can't be right

What are you basing that upon?

I closed Blue Rewards on October 25th 2022 (in order to sign up to Premier Avios Rewards). At the time the only way to be eligible for Rainy Day Saver was to have Blue Rewards, there was no exemption for Premier customers until late last year. Despite that, the Rainy Day Saver remained open

Then, on April 18th 2023 (just shy of 6 months later!) they gave notice the Rainy Day Saver would change in to an Everyday Saver on June 19th 2023 (so 8 months since I was last eligible) unless I reopened Blue Rewards in the meantime.

So, yes, it can be right - whether or not that remains the timescale is anyone's guess, but I'm not pulling figures out of nowhere.

brilliant. just closed Blue Rewards which disappeared from online banking straight away, sort of expected to see the %rate in the RDS reduce straight away too. interesting that we may still have a few months at the higher rate. 

I wonder if after a few months you can reopen Blue Rewards for one month to retain the Rainy Day Saver before closing Blue Rewards again?

WillPS

surreysaver said:

pfpf said:

WillPS said:

jameseonline said:

WillPS said:

jameseonline said:

MasterplanC said:

Is there any way to set up leaving Barclays Blue Rewards by the end of August now? On the app it seems I can only cancel immediately, which is not what I want to do. (The DD & mortgage bonus is still worth it for now and I might as well use Apple TV for July & August.) A bit sucky they are changing the rules and it's not possible saying I don't agree with the rule change and hence want to leave when they take effect.

Not aware of any bank scheme where you can schedule your leaving date.

Club Lloyds you cancel/downgrade your account.
Santander you cancel/downgrade your account.

So when you want to leave Barclays Blue you literally just select the cancel option and it's done, if you have the rainy day it won't instantly get downgraded but you will not be eligible for the rate of it either, for some unknown reason they haven't changed mine to a poorer rate account even though they said they would, months ago.

You get about 6 month's grace with the Barclays Rainy Day Saver, then they give you a fair bit of notice they're going to change it to a 'normal' savings account.

The only way I can think of to 'schedule' to leave is to CASS away - which you can normally schedule up to about 40 days in the future.

6 months can't be right

What are you basing that upon?

I closed Blue Rewards on October 25th 2022 (in order to sign up to Premier Avios Rewards). At the time the only way to be eligible for Rainy Day Saver was to have Blue Rewards, there was no exemption for Premier customers until late last year. Despite that, the Rainy Day Saver remained open

Then, on April 18th 2023 (just shy of 6 months later!) they gave notice the Rainy Day Saver would change in to an Everyday Saver on June 19th 2023 (so 8 months since I was last eligible) unless I reopened Blue Rewards in the meantime.

So, yes, it can be right - whether or not that remains the timescale is anyone's guess, but I'm not pulling figures out of nowhere.

brilliant. just closed Blue Rewards which disappeared from online banking straight away, sort of expected to see the %rate in the RDS reduce straight away too. interesting that we may still have a few months at the higher rate. 

I wonder if after a few months you can reopen Blue Rewards for one month to retain the Rainy Day Saver before closing Blue Rewards again?

Possibly, although it's the sort of behaviour that I personally wouldn't engage in so I didn't trigger a dreaded "review".

pfpf

so as per post above, closed blue rewards on 4th July and just had notification that "rainy day savings" will end on 9th Sept.
so not the several months i had hoped but fair enough.

Newbie_John

AppleTV - can be done for free with Trials
MLS - not free, as it's live it needs TV license
Rainy Saver - plenty of other better choices, even ISAs
So no benefits anymore really.


I'm £3 up because of the mortgage but my direct debits aren't trustworthy anymore because my previous mobile fee was taken as DD and now it's a card payment (new provider) so need to rely on credit card direct debit which soemtimes doesn't happen.. closing it now.

silvercue

I am closing this account.  It is pointless now unless you are really keen on Apple TV and MLS.

Removing the £5 means you are paying £5, which changes the real interest rate from 5 to 3.6%.  I have other accounts paying more.

Last payment is September 3rd....so I will close this the day after.  Unless it is better to close in August...I wonder if I still get the reward on Sept 3rd? (sorry if that is above, late to this)

HillStreetBlues

silvercue said:

I am closing this account.  It is pointless now unless you are really keen on Apple TV and MLS.

Removing the £5 means you are paying £5, which changes the real interest rate from 5 to 3.6%.  I have other accounts paying more.

Last payment is September 3rd....so I will close this the day after.  Unless it is better to close in August...I wonder if I still get the reward on Sept 3rd? (sorry if that is above, late to this)

If you close it now you won't get reward in Sep but also you won't pay the Sep fee.