MSE News: Barclays offers switchers double rewards for a year

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  • aj23_2
    aj23_2 Posts: 1,155 Forumite
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    Herbalus wrote: »
    Yes it is.

    So after one year, is that £7 before the fee, so you'd only get £4 a month?
  • Herbalus
    Herbalus Posts: 2,634 Forumite
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    aj23 wrote: »
    So after one year, is that £7 before the fee, so you'd only get £4 a month?

    Yes. £4 per month is normal circumstances. You get £3.50 per month for the first 2 direct debits, totalling £7, and then there is a £3 fee payable on 1st of each month when the rewards.

    This offer is to double the reward to £7 per direct debit (max 2), but the fee stays at £3 throughout.
  • pmatt_2
    pmatt_2 Posts: 54 Forumite
    I've just started my switch to Barclays from NatWest.

    Vastly better experience than with NatWest. Their process was hugely complicated and time-consuming.

    Online application to Barclays was quick and easy. Two days later I got my debit card. Had to go into branch with ID, but no hard sell -- they just photocopied it, got me to give a specimen signature, and that was it. Also had to do this with NatWest, but it took much longer.

    Slightly worried about talk of needing two direct debits as part of the switch. I'm transferring the dormant NatWest account, thought I will separately be moving some direct debits as I do intend on using this account.

    Incidentally, I was rejected by both First Direct and HSBC. The Barclays offer is actually better, it just takes longer to get the total amount. Probably quite sensible of Barclays to make sure you stay.
  • davethorp
    davethorp Posts: 1,577 Forumite
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    Just as I was considering closing my Barclays account, this happens.

    Question now becomes do I switch my main banking to them (unlikely) or do I just switch an account with 2 direct debits on it and pay the £800 needed for blue rewards in manually.
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
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    Herbalus wrote: »
    Yes. £4 per month is normal circumstances. You get £3.50 per month for the first 2 direct debits, totalling £7, and then there is a £3 fee payable on 1st of each month when the rewards.

    This offer is to double the reward to £7 per direct debit (max 2), but the fee stays at £3 throughout.

    I don't know if this is worth doing. I only switched 7 months ago. I'm had savings with Barclays before and the staff have been clueless.
  • Flobberchops
    Flobberchops Posts: 1,279 Forumite
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    pmatt wrote: »
    Slightly worried about talk of needing two direct debits as part of the switch. I'm transferring the dormant NatWest account, thought I will separately be moving some direct debits as I do intend on using this account.

    I think there's a case of Chinese Whispers happening somewhere. There is no requirement for the account being switched to have two DDs transferred along with it. You will however need to have two DDs set up on your nominated Barclays account (and £800 monthly income) to be eligible for the full £7 Blue Rewards loyalty reward which is then doubled to £14 - for the month of May if you're a new sign-up, or for the next 12 months if you use the Current Account Switch Service either as a new or existing customer.
    : )
  • pmatt_2
    pmatt_2 Posts: 54 Forumite
    Flobberchops wrote: »
    I think there's a case of Chinese Whispers happening somewhere. There is no requirement for the account being switched to have two DDs transferred along with it.

    I checked Barclays website. It says two things:

    First: Switch your everyday banking to us using the Current Account Switch Service [my emphasis]

    But, in the terms and conditions it says: [You will] receive double reward for 12 months if you use the Current Account Switch Service . . . request a full switch to an eligible Barclays current account (new customers)

    The terms and conditions do not specify what "everyday banking" means. There is no explicit requirement for the switched account to have any direct debits.
  • Savings1234
    Savings1234 Posts: 73 Forumite
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    Does anyone know if the platinum credit card with Barclays blue rewards would therefore get double cashback too? £2 instead of £1 a month
  • ronbell101
    ronbell101 Posts: 175 Forumite
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    applied 2nd May and received an email advising me to visit the branch to verify my id, haven't done that,got a text yesterday saying thanks for opening an account with us and received my debit card today !!
  • moneysavinggirl40
    moneysavinggirl40 Posts: 434 Forumite
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    beefturnmail wrote: »
    That is my interpretation too - also that there is no need to have 2 different dd mandates to get the full £7 (or £14) - just two dd payments, which could be under the same mandate?

    Is this correct? can one just set up x2 manual pulls per month or regular weekly pulls to satisfy barclays to the same destination;). and how do you turn on blue rewards once you're logged in?
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