Barclays is introducing its Blue Rewards add-on for current accounts from Monday 20 April 2015.
For a monthly fee of £3.00, customers can receive the following rewards into their Digital Wallets:
*All customers receive a £7.00/month reward into their wallet (therefore net cash gain of £4.00)
*Mortgage customers (existing and new) receive £5.00/month into their wallet.
*Home insurance customers (new, or existing who renew their policy) receive £3.00/month into their wallet.
*Additional 1% cashback through Smartspend (eg Expedia, Gap, Boots, etc)
*Rewards for having savings, personal loans, and other products will be introduced in the future
Customers must have £800 paid into their current account each month, and have two direct debits, and be registered for Online Banking or the Barclays Mobile Banking app.
The Rewards Wallet is linked to the Barclays current account of your choice and the rewards can then be redeemed into a Barclays account at any time.
Top comments
jackvdbuk
15 Apr 1510#2
its about time barclays offer something , their account offerings are all pretty boring compared to santander, nationwide etc.
so they are basically offering a free £4 per month for having a current account, doesnt beat halifax £5 but still reasonable i guess :smiley:
benjus to singy21
15 Apr 154#25
If a customer stops meeting the requirements of £800 deposit and 2 direct debits but doesn't remove the add-on, the £3 would still be taken but the £7 would not be paid out.
squiby
15 Apr 153#21
Even better for savers to just withdraw all their cash and let the banking sector collapse. Savers are being given a raw deal for propping this country up.
Slash
15 Apr 153#15
worth noting you probably get the free Kaspersky Internet Security license as well with this account.
As for why they charge you £3 to give your £7 reward each month, you have to remember to pay in £800, have two direct debits, and be registered for Online Banking or the Barclays Mobile Banking app. So they're banking (haha) on people to miss a few of those steps so they don't get their £7 reward each month. The reward doesn't even get added to your bank account automatically...who knows what hoops you have to jump through to redeem it.
All comments (40)
kneale81
15 Apr 153#1
andykapa to kneale81
15 Apr 15#24
Do you need to join Blue Rewards current account add-on or Barclays automatically add you in if you are current account holder ? Thanks
jackvdbuk
15 Apr 1510#2
its about time barclays offer something , their account offerings are all pretty boring compared to santander, nationwide etc.
so they are basically offering a free £4 per month for having a current account, doesnt beat halifax £5 but still reasonable i guess :smiley:
Slash to jackvdbuk
15 Apr 15#8
exactly. just go with halifax. This barclays deal would be good only for those that have mortgage and/or home insurance with them.
tapi to jackvdbuk
15 Apr 15#40
what do nationwide offer? been with them for 20years, and not getting much beyond free travel insurance. Am I missing some freebies?
Grohller
15 Apr 152#3
Not bad at all... shame I can't do anymore jiggery pokery with my direct debits otherwise this would be yet another layer to my ever growing list of standing orders on pay day :smiley: - Heat Added
hutchir9
15 Apr 15#4
Good luck with Barclays
_taurus_ to hutchir9
15 Apr 152#34
What's wrong with them? Never had issues with from 12 years...
Chanchi32
15 Apr 15#5
nice deal heat added
mocmocamoc
15 Apr 15#6
Seems good, whizz 800 around each month between this and a saving and a couple of direct debits moved, makes about 5% interest
honeymonster86
15 Apr 152#7
You could just set up a couple of small direct debits with charities ... win-win that way!
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Opening post
For a monthly fee of £3.00, customers can receive the following rewards into their Digital Wallets:
*All customers receive a £7.00/month reward into their wallet (therefore net cash gain of £4.00)
*Mortgage customers (existing and new) receive £5.00/month into their wallet.
*Home insurance customers (new, or existing who renew their policy) receive £3.00/month into their wallet.
*Additional 1% cashback through Smartspend (eg Expedia, Gap, Boots, etc)
*Rewards for having savings, personal loans, and other products will be introduced in the future
Customers must have £800 paid into their current account each month, and have two direct debits, and be registered for Online Banking or the Barclays Mobile Banking app.
The Rewards Wallet is linked to the Barclays current account of your choice and the rewards can then be redeemed into a Barclays account at any time.
Top comments
so they are basically offering a free £4 per month for having a current account, doesnt beat halifax £5 but still reasonable i guess :smiley:
As for why they charge you £3 to give your £7 reward each month, you have to remember to pay in £800, have two direct debits, and be registered for Online Banking or the Barclays Mobile Banking app. So they're banking (haha) on people to miss a few of those steps so they don't get their £7 reward each month. The reward doesn't even get added to your bank account automatically...who knows what hoops you have to jump through to redeem it.
All comments (40)
so they are basically offering a free £4 per month for having a current account, doesnt beat halifax £5 but still reasonable i guess :smiley: