Barclays Bank is currently offering a limited-time promotion where customers can receive a generous £175 cash bonus for switching their bank account to Barclays. This enticing deal is set to come to a close today, August 30th, so time is of the essence for those who wish to take advantage of this offer.
To claim the £175 cash bonus, customers must follow a four-step process outlined by Barclays. The first step involves opening an eligible account, either a Barclays Bank Account or Premier Current Account. If opting for the Barclays Bank Account, customers must also sign up for Blue Rewards via the Barclays app. In addition to the cash bonus, Blue Rewards offers additional perks such as a 15% cashback with participating retailers like Dominos, Deliveroo, and Greene King pubs. Furthermore, subscribers can enjoy benefits like a complimentary Apple TV and an American football MLS season pass subscription in exchange for a £5 monthly fee.
The second step in the process is to use the current account switch service within the Barclays app to complete the transfer and add two direct debits. The final step requires customers to deposit £800 into the account by the end of the day to qualify for the £175 cash bonus. Upon completing these steps, customers can expect the sign-up bonus to be credited to their account within 28 days.
For those considering switching bank accounts, it’s essential to review the terms and conditions to ensure that the available accounts align with their banking needs. While Barclays currently offers a lucrative switching bonus, other banks like Co-operative Bank and TSB also have enticing offers for new customers.
Co-operative Bank, for example, provides a free cash offer worth up to £160 for switching accounts. This offer includes £100 upfront for the switch, with an additional £10 per month for six months for those who open a regular saver account, totaling another £60. Customers who meet the qualifying criteria will receive the £100 cash bonus within seven days of completing the switch.
Similarly, TSB offers new customers switching to their Spend & Save or Spend & Save Plus current account the opportunity to earn up to £190 in free cash within a year. Switchers receive £100 upfront for making the switch, along with the potential to earn between £5 and £15 cashback each month for the first six months. To qualify for the cashback rewards, customers must make at least 20 debit card payments per month.
Switching bank accounts is a straightforward process that can typically be done through the Current Account Switch Service (CASS). Many high street banks and building societies are signed up for this service, which ensures that swapping banks should take no longer than seven working days. With CASS, customers don’t have to worry about transferring direct debits as this is done automatically. All that’s required is to apply for the new account and let the new bank handle the rest.
Before making the switch, it’s essential to choose a switch date and transfer any old bank statements to the new account. Customers should also consider the perks and benefits that come with joining a specific bank or building society. Some banks offer 0% overdrafts up to a certain limit, while others provide better rates on savings accounts. Additionally, some banks offer free travel or mobile phone insurance with their current accounts, albeit with a monthly fee.
In conclusion, the limited-time offer from Barclays Bank presents a compelling opportunity for customers to earn a £175 cash bonus by switching their bank account. With the promotion ending today, August 30th, interested individuals should act quickly to take advantage of this generous offer. Furthermore, considering the switching bonuses available from other banks like Co-operative Bank and TSB can help customers make an informed decision when choosing a new banking provider. Switching bank accounts is a straightforward process that can yield significant rewards, making it a worthwhile consideration for those looking to maximize their banking benefits.