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    • Former MSE Paloma
    • By Former MSE Paloma 20th Apr 15, 5:02 PM
    • 526Posts
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    Former MSE Paloma
    MSE News: Barclays launches reward scheme for current account users, but other banks
    • #1
    • 20th Apr 15, 5:02 PM
    MSE News: Barclays launches reward scheme for current account users, but other banks 20th Apr 15 at 5:02 PM
    Barclays current account customers who bank online or via app will be able to sign up to Barclays Blue Rewards scheme ...

    Read the full story:

    Barclays launches reward scheme for current account users, but other banks beat it




    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.

Page 1
    • pinkdalek
    • By pinkdalek 20th Apr 15, 5:56 PM
    • 1,272 Posts
    • 759 Thanks
    pinkdalek
    • #2
    • 20th Apr 15, 5:56 PM
    • #2
    • 20th Apr 15, 5:56 PM
    Sounds too complicated and a lot of hoops to jump through for very little.

    They want to reward you, but you have to pay £3 per month to be in their club.
    You get marginally more if your mortgage is with them and house insurance, however their deals/products might not be the most suitable. Why have a mortgage with them if you can get a better deal elsewhere for the sake of a few quid more?

    Halifax's Reward current account seems much more straightforward if you ask me, (plus £125 if your switching) Santander's 123 looks appealing if you have a large balance to put in as the 3% can pay you more in interest.

    There are much better current accounts out there I think!
    • Zanderman
    • By Zanderman 20th Apr 15, 6:10 PM
    • 2,157 Posts
    • 4,972 Thanks
    Zanderman
    • #3
    • 20th Apr 15, 6:10 PM
    • #3
    • 20th Apr 15, 6:10 PM
    There are much better current accounts out there I think!
    Originally posted by pinkdalek
    Indeed, there are much better ones!

    But for those who play the current account game, and who are accustomed to jumping through a few hoops for a cash reward - and happy to set up 2 DDs and pay in £800 (which is, in general, no different really to the Halifax Reward Account system) the scheme seems to be worth a basic £48 a year. Which is better than nothing (which is what Barclays have offered customers so far).

    The detail (the cash going to your 'rewards wallet') might be frustrating though - we'll see in due course...
    • ceredigion
    • By ceredigion 20th Apr 15, 6:26 PM
    • 3,278 Posts
    • 4,593 Thanks
    ceredigion
    • #4
    • 20th Apr 15, 6:26 PM
    • #4
    • 20th Apr 15, 6:26 PM
    Why is it when I read such articles that there seems to be an assumption that people have just one current account and they somehow have to make a decision as to which one is best for them. I know the people who generally frequent this particular board , probably wouldn't be described as normal in their relationship to banks . As many have multiple accounts. But that's not to say the powers that be who control these boards ,should imply that one account is the norm.
    • anoncol
    • By anoncol 20th Apr 15, 7:35 PM
    • 969 Posts
    • 393 Thanks
    anoncol
    • #5
    • 20th Apr 15, 7:35 PM
    • #5
    • 20th Apr 15, 7:35 PM
    No brainer here, our mortgage is with them.
    • carmina piranha
    • By carmina piranha 20th Apr 15, 7:49 PM
    • 499 Posts
    • 614 Thanks
    carmina piranha
    • #6
    • 20th Apr 15, 7:49 PM
    • #6
    • 20th Apr 15, 7:49 PM
    Ours is now, but it used to be a Woolwich mortgage, does that still count?

    I suspect this is a stupid question, as it's still a mortgage with Barclays, but it says Barclays mortgage, is that the same thing?
    Last edited by carmina piranha; 20-04-2015 at 8:30 PM.
    • Archi Bald
    • By Archi Bald 20th Apr 15, 8:15 PM
    • 9,376 Posts
    • 7,432 Thanks
    Archi Bald
    • #7
    • 20th Apr 15, 8:15 PM
    • #7
    • 20th Apr 15, 8:15 PM
    The provider says "Barclays Blue Rewards offers the best monthly rewards for more average UK-salary workers than any other provider"
    This sounds just like La Sturgeon who promises to represent the interests of voters across the UK - - a lot of waffle words and "if-then-but" - type deflection statements. Reality is very different and a lot simpler.

    What is an "average UK-salary worker", anyway?

    But it will be of use for some, and also for those who want to believe the hype.
    • pjread
    • By pjread 21st Apr 15, 8:01 AM
    • 889 Posts
    • 370 Thanks
    pjread
    • #8
    • 21st Apr 15, 8:01 AM
    • #8
    • 21st Apr 15, 8:01 AM
    Presumably the rewards are taxable? If not might be better than Halifax for higher rate taxpayers.
    • benjus
    • By benjus 21st Apr 15, 8:25 AM
    • 5,279 Posts
    • 3,254 Thanks
    benjus
    • #9
    • 21st Apr 15, 8:25 AM
    • #9
    • 21st Apr 15, 8:25 AM
    The Barclays Premier account isn't bad - you get a few nice free benefits - for example:

    Picturehouse cinema membership - worth about £55
    English heritage membership (plus 1 guest) - worth about £75 (?)
    Gourmet society membership - worth about £35
    Kaspersky internet security - worth about £15-£25

    So that's about £180 of benefits for free - good if you are likely to use them. I'm happy to add another £48/year in cash on top of that.

    (there are various other rewards as well, such as discounted admission to some golf courses, but I have not yet used them)

    They also have good online and mobile banking, which is more than I can say for some banks (yes First Direct, I'm looking at you).
    Last edited by benjus; 21-04-2015 at 11:52 AM.
    Let's settle this like gentlemen: armed with heavy sticks
    On a rotating plate, with spikes like Flash Gordon
    And you're Peter Duncan; I gave you fair warning
    • billbennett
    • By billbennett 21st Apr 15, 11:43 AM
    • 2,270 Posts
    • 1,623 Thanks
    billbennett
    The Barclays Premier account isn't bad - you get a few nice free benefits
    Originally posted by benjus
    They're not free... you pay for them in your monthly fee ;-)
    In "Monopoly", what makes the "Super Tax" so super?
    • benjus
    • By benjus 21st Apr 15, 11:47 AM
    • 5,279 Posts
    • 3,254 Thanks
    benjus
    They're not free... you pay for them in your monthly fee ;-)
    Originally posted by billbennett
    There's no monthly fee. I have not selected any paid-for add-ons.
    Let's settle this like gentlemen: armed with heavy sticks
    On a rotating plate, with spikes like Flash Gordon
    And you're Peter Duncan; I gave you fair warning
    • Dizzee Rebel
    • By Dizzee Rebel 21st Apr 15, 2:01 PM
    • 74 Posts
    • 27 Thanks
    Dizzee Rebel
    Sounds too complicated and a lot of hoops to jump through for very little.
    Originally posted by pinkdalek
    Not really... £48 a year to:

    • Move £800 in & out once a month
    • Pull £1 per month to my Paypal
    • Set up my Tesco Internet Saver to automatically pull £1 per month

    Once internet saver is set up, it'll probably take 2 minutes every month moving the £800 and sorting the DD to Paypal

    It would be rude not to...
    • billbennett
    • By billbennett 21st Apr 15, 2:55 PM
    • 2,270 Posts
    • 1,623 Thanks
    billbennett
    • Pull £1 per month to my Paypal
    .
    Originally posted by Dizzee Rebel
    If it saves anyone some time, you can set up a recurring PayPal payment for 1p a month by direct debit from this page:

    https://www.paypal.com/cgi-bin/webscr?cmd=_xclick-subscriptions&business=YOUR%40FRIENDS%2eEMAIL&lc=G B&item_name=Pay%20Bill%201p&no_note=1&src=1&a3=0%2 e01&p3=1&t3=M&currency_code=GBP&bn=PP%2dSubscripti onsBF%3abtn_subscribeCC_LG%2egif%3aNonHostedGuest

    replacing YOUR, FRIENDS, and EMAIL with the first, second, and third bits of a friend's email address that has PayPal. (The address above would send the payment to your@friends.email)
    In "Monopoly", what makes the "Super Tax" so super?
    • RedDwarf82
    • By RedDwarf82 22nd Apr 15, 1:12 PM
    • 133 Posts
    • 67 Thanks
    RedDwarf82
    There's no monthly fee. I have not selected any paid-for add-ons.
    Originally posted by benjus
    Interesting. One way to get it is through "An annual gross income paid into a Barclays current account of £75,000+" (The quote is from the website, I have not read the T&C yet).

    Has anybody with an income under £75K tried with simply a monthly ~£6,000 transfer in and out?
    Last edited by RedDwarf82; 22-04-2015 at 1:22 PM.
    • inittogether
    • By inittogether 22nd Apr 15, 6:22 PM
    • 31 Posts
    • 5 Thanks
    inittogether
    Not really... £48 a year to:

    • Move £800 in & out once a month
    • Pull £1 per month to my Paypal
    • Set up my Tesco Internet Saver to automatically pull £1 per month

    Once internet saver is set up, it'll probably take 2 minutes every month moving the £800 and sorting the DD to Paypal

    It would be rude not to...
    Originally posted by Dizzee Rebel
    That sounds like standing orders though. Not sure you can set up one of your own accounts to pull money from another of your own accounts (which would be a direct debit). You can only tell one of your own accounts to send money to another one - and that's a standing order. This offer needs direct debits.

    Will get this set up for my wife as she still keeps her main account with Barclays coz she wants to be able to go into a branch. Will then put this in the loop of £1000 that cycles around the other seven accounts to get the best interest. Then job done.
    • ceredigion
    • By ceredigion 22nd Apr 15, 6:41 PM
    • 3,278 Posts
    • 4,593 Thanks
    ceredigion
    That sounds like standing orders though. Not sure you can set up one of your own accounts to pull money from another of your own accounts (which would be a direct debit). You can only tell one of your own accounts to send money to another one - and that's a standing order. This offer needs direct debits.

    Will get this set up for my wife as she still keeps her main account with Barclays coz she wants to be able to go into a branch. Will then put this in the loop of £1000 that cycles around the other seven accounts to get the best interest. Then job done.
    Originally posted by inittogether

    Personal DDs are easy to set up
    • Zanderman
    • By Zanderman 22nd Apr 15, 7:38 PM
    • 2,157 Posts
    • 4,972 Thanks
    Zanderman
    • Pull £1 per month to my Paypal
    • Set up my Tesco Internet Saver to automatically pull £1 per month
    Originally posted by Dizzee Rebel
    That sounds like standing orders though. Not sure you can set up one of your own accounts to pull money from another of your own accounts (which would be a direct debit). You can only tell one of your own accounts to send money to another one - and that's a standing order. This offer needs direct debits.
    Originally posted by inittogether
    inittogether, you may think those sound like standing orders, but you'd be wrong.

    Paypal works via DDs and Tesco savings accounts (and several others out there) work using DDs. The beauty of using a savings account that can DD from your current account is that the DD'd money is still yours... And you can meet the T&Cs of current accounts that need DDs using them.
    • mrchagle
    • By mrchagle 23rd Apr 15, 1:02 PM
    • 543 Posts
    • 85 Thanks
    mrchagle
    I'm trying to find via the Barclays App how you add this Blue Point feature to the account... anyone?
    If I've help in anyway, please remember to thank me :-)
    • numbers123
    • By numbers123 23rd Apr 15, 2:57 PM
    • 47 Posts
    • 28 Thanks
    numbers123
    I'm trying to find via the Barclays App how you add this Blue Point feature to the account... anyone?
    Originally posted by mrchagle
    Has your mobile app been updated in the last few days? The new feature can only be seen when the latest update has been applied. On the 'home' screen, under Account Management the fourth option is 'Blue Rewards'. You click that and then follow the instructions.
    • dmaidmen
    • By dmaidmen 23rd Apr 15, 3:22 PM
    • 27 Posts
    • 5 Thanks
    dmaidmen
    I'm trying to find via the Barclays App how you add this Blue Point feature to the account... anyone?
    Originally posted by mrchagle
    I managed to sign up on Android using version 1.20 of the App. I now have a "Barclays Blue Rewards" account listed as well as my current accounts and mortgage.
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