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  • FIRST POST
    • Jamsi
    • By Jamsi 9th Oct 18, 9:28 PM
    • 113Posts
    • 195Thanks
    Jamsi
    Barclays blue rewards
    • #1
    • 9th Oct 18, 9:28 PM
    Barclays blue rewards 9th Oct 18 at 9:28 PM
    Does anyone have Barclays blue rewards on their bank account?
    The person that served me in the bank said I am missing out and should have it but I didn’t have time to discuss it with him so just told him I will leave it for now.
    Is it worth getting? I believe you have to pay to have it but then they give you some back or something?
Page 1
    • ricky_v
    • By ricky_v 9th Oct 18, 9:46 PM
    • 309 Posts
    • 176 Thanks
    ricky_v
    • #2
    • 9th Oct 18, 9:46 PM
    • #2
    • 9th Oct 18, 9:46 PM
    You get free £4/month (£7/month minus £3/month account fee).


    You need 2 direct debits and pay in £800/month. Used to get £9/month until I remortgaged away from Barclays.


    https://www.barclays.co.uk/current-accounts/blue-rewards/



    However if you switch another current account to blue rewards the rewards double for a year so you'll get £11/month.


    https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#barclays
    • litepay
    • By litepay 9th Oct 18, 10:34 PM
    • 44 Posts
    • 37 Thanks
    litepay
    • #3
    • 9th Oct 18, 10:34 PM
    • #3
    • 9th Oct 18, 10:34 PM
    I do have it, and I'm getting double rewards at the moment. I get £21 per month, as I also have a mortgage with them.

    So yes, if you already have a Barclays account it's also worth it. Switch on the blue rewards by 31 Oct to benefit from the "double rewards for 1 year" offer.
    • Flobberchops
    • By Flobberchops 10th Oct 18, 7:31 PM
    • 822 Posts
    • 650 Thanks
    Flobberchops
    • #4
    • 10th Oct 18, 7:31 PM
    • #4
    • 10th Oct 18, 7:31 PM
    Basically as the others have said. £4 a month net tax-free cashback after the monthly fee taken, currently 12 months double cashback being offered for switchers, and the opportunity to receive extra if you have home insurance, a mortgage or a personal loan with Barclays, or if you use their Barclays Cashback when making online purchases.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • DennisTenus
    • By DennisTenus 10th Oct 18, 11:31 PM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    • #5
    • 10th Oct 18, 11:31 PM
    • #5
    • 10th Oct 18, 11:31 PM
    I was looking at this the other day... I don't really get it... you pay a fee but get more back? Why don't they just make it fee free and lower the cashback?

    I looked at the Premier option too... can I pay in (and out) around £4300/month from one of my other accounts to cover the 75k income?

    To join Premier, you’ll need a minimum of £100,000 saved or invested with us – or an annual gross income of £75,000 or more paid into a Barclays current account.
    • badmemory
    • By badmemory 11th Oct 18, 3:16 AM
    • 2,134 Posts
    • 3,009 Thanks
    badmemory
    • #6
    • 11th Oct 18, 3:16 AM
    • #6
    • 11th Oct 18, 3:16 AM
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.
    • KTF
    • By KTF 11th Oct 18, 8:52 AM
    • 4,688 Posts
    • 1,917 Thanks
    KTF
    • #7
    • 11th Oct 18, 8:52 AM
    • #7
    • 11th Oct 18, 8:52 AM

    I looked at the Premier option too... can I pay in (and out) around £4300/month from one of my other accounts to cover the 75k income?
    Originally posted by DennisTenus
    It looks like the application for premier is online. Assuming they dont ask for proof of salary then a manual transfer in and out every month should work just like every other account that has a funding requirement.
    • DennisTenus
    • By DennisTenus 11th Oct 18, 11:27 AM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    • #8
    • 11th Oct 18, 11:27 AM
    • #8
    • 11th Oct 18, 11:27 AM
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.
    Originally posted by badmemory
    CCJ for what?? Sorry must have missed something!

    It looks like the application for premier is online. Assuming they dont ask for proof of salary then a manual transfer in and out every month should work just like every other account that has a funding requirement.
    Originally posted by KTF
    Yeah I hoped this, I did ask them on twitter and they just replied with what it says on the website!
    • litepay
    • By litepay 11th Oct 18, 11:38 AM
    • 44 Posts
    • 37 Thanks
    litepay
    • #9
    • 11th Oct 18, 11:38 AM
    • #9
    • 11th Oct 18, 11:38 AM
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.
    Originally posted by badmemory
    I wouldn't say it's for nothing. I'm currently getting £21 (for up to 1 year), then it will be £9 after that. I'm not even counting the cashback..
    • soulsaver
    • By soulsaver 11th Oct 18, 12:01 PM
    • 2,092 Posts
    • 951 Thanks
    soulsaver
    @litepay: You don't fit with his example in the quote.
    • EarthBoy
    • By EarthBoy 11th Oct 18, 12:23 PM
    • 1,977 Posts
    • 1,309 Thanks
    EarthBoy
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.
    Originally posted by badmemory
    You won't be paying out for nothing because:

    If you earn less in rewards than the monthly fee

    We may cancel Barclays Blue Rewards if the rewards you earn are less than the monthly fee. We’ll monitor the rewards you’re earning and we’ll contact you to give you 2 months’ notice before cancelling.


    https://www.barclays.co.uk/current-accounts/blue-rewards/
    • DennisTenus
    • By DennisTenus 11th Oct 18, 12:29 PM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    So literally is money for nothing and not taxable because it's cashback and goes into separate "rewards" account??
    • Shakin Steve
    • By Shakin Steve 11th Oct 18, 3:23 PM
    • 1,647 Posts
    • 1,418 Thanks
    Shakin Steve
    So literally is money for nothing and not taxable because it's cashback and goes into separate "rewards" account??
    Originally posted by DennisTenus
    That's correct.
    I came into this world with nothing and I've got most of it left.
    • derrick
    • By derrick 11th Oct 18, 4:03 PM
    • 7,113 Posts
    • 2,326 Thanks
    derrick
    However if you switch another current account to blue rewards the rewards double for a year so you'll get £11/month.


    https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#barclays
    Originally posted by ricky_v
    Just spoken to Barclays and it turns out if you already have an account with blue rewards and switch a non Barclays account you only get the double reward for 1 month


    .
    Don`t steal - the Government doesn`t like the competition


    • litepay
    • By litepay 11th Oct 18, 8:16 PM
    • 44 Posts
    • 37 Thanks
    litepay
    Just spoken to Barclays and it turns out if you already have an account with blue rewards and switch a non Barclays account you only get the double reward for 1 month
    .
    Originally posted by derrick
    Oh wow that sucks. Earlier this year they had another promotion for existing customers where they were offering double rewards for one year, I'm on that actually.
    • changearound
    • By changearound 11th Oct 18, 9:16 PM
    • 32 Posts
    • 25 Thanks
    changearound
    Just spoken to Barclays and it turns out if you already have an account with blue rewards and switch a non Barclays account you only get the double reward for 1 month


    .
    Originally posted by derrick

    The advice given to you by Barclays is contrary to the Terms & Conditions of their offer:



    Receive Double Rewards for 12 months if you switch your bank/building society current account using the Current Account Switch Service (CASS), between 1 October 2018 and 14 November 2018 (the “Offer Period”) and sign-up to, or already hold Barclays Blue Rewards:
    If you don’t already have Barclays Blue Rewards you must request a full switch into an eligible Barclays current account and sign up to Barclays Blue Rewards using that current account;
    or
    If you already have Barclays Blue Rewards you must request a full switch into the current account which has been nominated for Barclays Blue Rewards. This is the account the Barclays Blue Rewards fee of £3 is debited from each month.

    I was given similarly bad advice by my local Barclays branch when I did a switch into my pre-existing Blue Rewards current account for the earlier offer. Luckily I was pig-headed enough to ignore them and carry on with the switch and am now earning double rewards.


    The one month thing is a separate offer for turning on Blue Rewards on a pre-existing account, no switching involved.


    This later clause in the T&Cs caught my eye:


    This offer cannot be used in conjunction with any other promotional rewards or cashback offer, including any other Double Rewards offer, except where expressly permitted by us. This Offer supersedes/replaces any previous Double Blue Rewards Offer that you may be participating in.

    This suggests that if you partook in the earlier offer you could do another switch before Nov 14 and the 2nd Double Rewards would kick in for 12 months from November/December's payment for 12 months replacing the 1st Double Rewards which by this time would have paid out 5/6 times.


    So a 2nd switch is worth 5/6 extra months of Double Rewards????
    • Hattie625
    • By Hattie625 12th Oct 18, 7:49 AM
    • 794 Posts
    • 679 Thanks
    Hattie625


    This later clause in the T&Cs caught my eye:


    This offer cannot be used in conjunction with any other promotional rewards or cashback offer, including any other Double Rewards offer, except where expressly permitted by us. This Offer supersedes/replaces any previous Double Blue Rewards Offer that you may be participating in.

    This suggests that if you partook in the earlier offer you could do another switch before Nov 14 and the 2nd Double Rewards would kick in for 12 months from November/December's payment for 12 months replacing the 1st Double Rewards which by this time would have paid out 5/6 times.


    So a 2nd switch is worth 5/6 extra months of Double Rewards????
    Originally posted by changearound
    I'm going to give this a go. I opened a Barclays current account in May and switched a redundant Nat West account into it and have been receiving double rewards (current tally of rewards is £56). I will now switch Halifax Reward account (not worth keeping for £2 monthly reward) into the Barclays account and see what happens.
    • litepay
    • By litepay 12th Oct 18, 8:34 AM
    • 44 Posts
    • 37 Thanks
    litepay
    I'm going to give this a go. I opened a Barclays current account in May and switched a redundant Nat West account into it and have been receiving double rewards (current tally of rewards is £56). I will now switch Halifax Reward account (not worth keeping for £2 monthly reward) into the Barclays account and see what happens.
    Originally posted by Hattie625
    Are you able to do that online or you need to go into a branch? I have an old Santander account I could switch as well...
    • Hattie625
    • By Hattie625 12th Oct 18, 8:44 AM
    • 794 Posts
    • 679 Thanks
    Hattie625
    Are you able to do that online or you need to go into a branch? I have an old Santander account I could switch as well...
    Originally posted by litepay
    Unfortunately you need to go to a branch to arrange switch into existing account.
    • aj23
    • By aj23 12th Oct 18, 9:46 AM
    • 781 Posts
    • 255 Thanks
    aj23
    If you already have a current account with Barclays, have 2+ direct debits and paying in £800 a month, then yeah you would be better off. It's not much, but the banks make enough as it is so why not get something back off them?
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