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When to cancel Barclays Blue Rewards?

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  • wmb194
    wmb194 Posts: 4,924 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    philpmcs said:
    Does anybody know what will happen to the rainy day saver account?  Mine is 'maxed' out at the moment, but I need to know when to shift my money elsewhere without losing interest.  Will Barclays contact me with info of when the account will close and I have to move my money?
    It becomes an ordinary instant access account: "If you stop being a Barclays Blue Rewards member or a Premier Banking customer for any reason, we’ll convert your Rainy Day Saver to an instant-access savings account available at the time. We’ll be in touch before we do this with your new account’s terms"

    https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/
  • wmb194 said:
    philpmcs said:
    Does anybody know what will happen to the rainy day saver account?  Mine is 'maxed' out at the moment, but I need to know when to shift my money elsewhere without losing interest.  Will Barclays contact me with info of when the account will close and I have to move my money?
    It becomes an ordinary instant access account: "If you stop being a Barclays Blue Rewards member or a Premier Banking customer for any reason, we’ll convert your Rainy Day Saver to an instant-access savings account available at the time. We’ll be in touch before we do this with your new account’s terms"

    https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/
    Posters elsewhere have reported that this downgrade can take months to be actioned.
  • WillPS
    WillPS Posts: 5,145 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    wmb194 said:
    philpmcs said:
    Does anybody know what will happen to the rainy day saver account?  Mine is 'maxed' out at the moment, but I need to know when to shift my money elsewhere without losing interest.  Will Barclays contact me with info of when the account will close and I have to move my money?
    It becomes an ordinary instant access account: "If you stop being a Barclays Blue Rewards member or a Premier Banking customer for any reason, we’ll convert your Rainy Day Saver to an instant-access savings account available at the time. We’ll be in touch before we do this with your new account’s terms"

    https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/
    Posters elsewhere have reported that this downgrade can take months to be actioned.
    Indeed, I cancelled Blue Rewards in November 2022, it wasn't until May 2023 that they advised it would be changed - giving me 2 months notice.

    Whether or not they've sped up that process, or I just got lucky, I couldn't say.
  • ForumUser7
    ForumUser7 Posts: 2,460 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    I cancelled blue rewards a week or so ago and the blue rewards wallet disappeared. I then got an email today saying they cancelled it because I was not getting value for money... Anyone else had this? Bit odd given I already cancelled it a while ago.
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • Today's the day!

    Thank you all for this thread.
    I have a mortgage (£5) and loyalty reward (£3) each month and also have a maxed out Rainy Day saver.

    It seems like my best option is to leave anytime from now onwards to avoid the next fee, and then my Rainy Day Saver will likely be downgraded at some point in the future either soon or a few months down the line.
  • HillStreetBlues
    HillStreetBlues Posts: 6,089 Forumite
    1,000 Posts Third Anniversary Homepage Hero Photogenic
    edited 4 September 2024 at 6:13PM
    *Steevo* said:
    Today's the day!

    Thank you all for this thread.
    I have a mortgage (£5) and loyalty reward (£3) each month and also have a maxed out Rainy Day saver.

    It seems like my best option is to leave anytime from now onwards to avoid the next fee, and then my Rainy Day Saver will likely be downgraded at some point in the future either soon or a few months down the line.
    I would wait till end of month (5pm I believe) it might give you a few weeks extra on the rainy day.
    Let's Be Careful Out There
  • allegro120
    allegro120 Posts: 1,877 Forumite
    1,000 Posts Second Anniversary Name Dropper
    I cancelled blue rewards a week or so ago and the blue rewards wallet disappeared. I then got an email today saying they cancelled it because I was not getting value for money... Anyone else had this? Bit odd given I already cancelled it a while ago.
    I've cancelled on 27th Aug and received confirmation email on 30th Aug - "Following our last two emails, we’ve now cancelled your Barclays Blue Rewards membership. If you have an eligible account1 and want to re-join in the future, you can sign up again whenever you like in our app – we’d love to have you back. We’ll update our website with new features as they become available."
  • allegro120
    allegro120 Posts: 1,877 Forumite
    1,000 Posts Second Anniversary Name Dropper
    WillPS said:
    wmb194 said:
    philpmcs said:
    Does anybody know what will happen to the rainy day saver account?  Mine is 'maxed' out at the moment, but I need to know when to shift my money elsewhere without losing interest.  Will Barclays contact me with info of when the account will close and I have to move my money?
    It becomes an ordinary instant access account: "If you stop being a Barclays Blue Rewards member or a Premier Banking customer for any reason, we’ll convert your Rainy Day Saver to an instant-access savings account available at the time. We’ll be in touch before we do this with your new account’s terms"

    https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/
    Posters elsewhere have reported that this downgrade can take months to be actioned.
    Indeed, I cancelled Blue Rewards in November 2022, it wasn't until May 2023 that they advised it would be changed - giving me 2 months notice.

    Whether or not they've sped up that process, or I just got lucky, I couldn't say.
    I recall similar, cancelled for a long period of time and later signed up again - Rainy Day stayed uninterrupted.
  • I wonder if you could get away with signing up for a month and then leaving to keep the RDS
    Let's Be Careful Out There
  • granta
    granta Posts: 505 Forumite
    Tenth Anniversary 100 Posts Photogenic Name Dropper
    Barclays Premier

    I'm thinking of signing up to Premier once I cancel Rewards on 29 September. I'll likely meet the Premier criteria for a few months before I transfer out some investments. Does anyone how long the grace period is before they downgrade you and does the Rainy Saver get downgraded immediately?
    Ideally, I also don't want any interruption to my free Apple subscription!
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