I've had this Barclays Blue Rewards account for the last year now, I simply allow Barclays to remove £3 from my current account, then straight away they deposit £7 automatically. So every month you earn £4 it's FREE money.
You need the following: Two direct debits active on your account and at least £800 received into the account such as your salary, pension, housing benefit, all social benefits, tax credit etc.
You don't need a great credit rating either to open this account and you easily upgrade your account even if you have a basic account, I know plenty of people who have been recently bankrupt and have this account.
We’ll give you up to £7 every month that you’re eligible to say thank you for banking with us
We’ll pay your Loyalty Reward into your Rewards Wallet on the same day, as long as you’ve paid in at least £800 and paid your £3 fee each month
When you join we’ll ask you to choose a suitable current account for Barclays Blue Rewards. Most of our accounts are suitable, including Premier.
Latest comments (43)
marvel1
26 Sep 17#43
Easy direct debits: You can set up Direct Debits from your Tesco savings account. You can do it with any account that requires direct debits.
Lagerfiend
25 Sep 17#42
If you have a mortgage and an insurance policy with Barclays as well you pay £3 and get £15 back..... been doing this well over a year now. I know you can all add but: £36 in £180 out £144 win PA!
fishmaster
23 Sep 17#14
£48 a year, wow! Might as well have it I suppose :thinking:
haritori to fishmaster
24 Sep 17#38
Would pay for XBOX live or PSN Subscription?
fishmaster to haritori
24 Sep 17#39
It could pay for whatever your priorites were to utilise the money.
haritori to fishmaster
24 Sep 17#40
I only suggested that, as you play video games, but seemed to make light of a £48.00 a year payment. but yes it could pay whatever.. from mcdonald's to a cheap hooker.. who knows!
fishmaster to haritori
24 Sep 17#41
Or a cheap hooker eating a McDonald's, worst of both worlds :smile:
davidridge1
24 Sep 17#29
The most annoying thing with this is that you have to have an online account so my Mum who has banked with Barclays over 50 years can not take advantage of this.
Ashe to davidridge1
24 Sep 17#30
What stops you helping your mum set up online banking? They don't actually have to use it.
My parents have Barclays accounts, have this, and don't use online banking.
davidridge1 to Ashe
24 Sep 17#34
My Mum is 84, does not have broadband, smart phone, tablet or pc and I don’t live with her. My Mum would still want paper statements etc
kartel166 to davidridge1
24 Sep 17#37
You can still receive paper statements with an online account
Kevin.Fernandes
24 Sep 17#36
I’ve been using this for 2 years now , why say no to free money :grin:
smartdeals123
24 Sep 17#35
Thanks
stevec59
24 Sep 17#33
I guess if you have 2 DD's out to say a charity @ £1 each then it reduces the gain a fair bit, but I think that they do free internet security (Kaspersy)
Sambat
24 Sep 17#32
I believe you get £12 a month if you have a mortgage with Barclays
TirolForce165
24 Sep 17#31
People who think the bankers are not making serious money are deluded by the very bankers they are discussing .
splender
23 Sep 17#4
Who pays for this ? Is it from upping the charges from all customers and then give a bit back as a strategy to nourish customer's goodwill?
TheEnglish909 to splender
23 Sep 17#5
I don't pay any charges for any accounts, I don't go overdrawn or anything. I simply allow them to take £3 and then they give me £7 it's a win win.
EndemicAlarm to splender
23 Sep 17#9
It pays for itself. Banks can earn interest and invest money too. An £800 minimum income every month means the £4 they're returning gives you 0.5% at the most.
Muir to EndemicAlarm
23 Sep 17#15
It's not income, though. There's nothing stopping you from transferring the same £200 in and out of the account 4 times a month to reach the £800 threshold. In fact you could have similar accounts with multiple banks (that also offer bonuses in exchange for receiving funds) and earn multiple rewards with the same money, just transferring from one to the other. There's no rule that the funds have to stay in the account for any period.
vshylock to EndemicAlarm
23 Sep 17#17
Unless you pay in and out straight away... :nerd:
amour3k to EndemicAlarm
23 Sep 17#24
Exactly!.
People be somehow thinking that the Bank's are unable to balance their book's as it were? (because the Bank's be perhaps poor, or something?).
Think again ... lol. :-D
DealAnarchy to EndemicAlarm
24 Sep 17#28
Why quote monthly interest? If you kept in 800 most of the time (i.e if you pay off a credit card every month and the money sits in your account until the direct debit for the credit card), this is still around 5% interest per year. This is a decent sum. obviously the less is on the account on average the higher this becomes. You can get loans for 4-8% so the bank is barely making anything off this, if at all - directly anyway. As people sign up for other products from barclays they will likely make it back.
cjblfc
24 Sep 17#27
Been doing this for a few years now, a must if you have an account. If you just forget about it and leave it to grow, it acts a nice drawdown every year (normally around Christmas!)
paul.jacobs
24 Sep 17#25
I'd rather pay £13 a month for the nationwide flex plus. Which includes 3% interest upto £2500 (upto £6 interest a month), car breakdown cover , worldwide family travel insurance, mobile phone insurance (already claimed twice), commission free cash withdrawals abroad.
woldranger to paul.jacobs
24 Sep 17#26
Wow, that's expensive! You can get 3% on £3000 and have 2 accounts with tesco and Halifax clarity gives you free overseas withdrawls with great rates. As for the other stuff, each to their own, but I'd rather buy what I need when I need it with levels of cover that suit me.
OnetimePadwah
23 Sep 17#23
bonus!
OnetimePadwah
23 Sep 17#21
Point to note is that this is taxable income and they advise you to let the HMRC know that you are receiving it.... :skull_crossbones:
premierfella to OnetimePadwah
23 Sep 17#22
Tax treatment of Barclays Blue Rewards
The £7 Loyalty Reward received up to and including November 2016 for being part of Barclays Blue Rewards is subject to UK income tax and may need to be declared to H M Revenue & Customs.
All other current rewards and cashback earned through Blue Rewards, and any Loyalty Reward received from December 2016, are not subject to UK income tax.
carnivalwig
23 Sep 17#20
Ok fair
carnivalwig
23 Sep 17#18
I don't understand this to be honest.....This shows you paying £7 a month not £3?
TheEnglish909 to carnivalwig
23 Sep 17#19
No. All the credits are for £7 the debit part is me withdrawing the cash and transferring it to my main account.
Redbu11
23 Sep 17#12
If any of direct debits fail they continue to charge you the £3 fee but not give you the reward money. Happened twice with me.
Babbler to Redbu11
23 Sep 17#16
Waiting for the offer to come back.
brendinho
23 Sep 17#13
excellent!! cheers!!
gazEE
23 Sep 17#6
I think this is to entice customers away from free banking - reel them in with the reward and then some time down the line they will remove the cash incentive/
Halifax £5 has gone down to £3
Babbler to gazEE
23 Sep 17#7
TSB Is the best at the moment. £5 a month plus another if you have a few direct debit plus 3 percent.
ahenners to Babbler
23 Sep 17#11
This. Switched for the £130 bonus too.
cullies
23 Sep 17#10
its a carrot for charging you a bigger fee down the line and hoping you don't move away
No thanks
smartdeals123
23 Sep 17#8
Thanks OP
TheEnglish909
23 Sep 17#3
holeymoley18
23 Sep 17#2
No brainer if you have an account with them, or if like me, a financial product as you get even more of a bonus for the £3 fee. Better accounts to target first though if planning to play the switching game. I just transfer in enough to cover my repayment amount and the 2 direct debits. Don't use the a/c apart from that.
TheEnglish909
23 Sep 17#1
I've had this Barclays Blue Rewards account for the last year now, I simply allow Barclays to remove £3 from my current account, then straight away they deposit £7 automatically. So every month you earn £4 it's FREE money.
You need the following: Two direct debits active on your account and at least £800 received into the account such as your salary, pension, housing benefit, all social benefits, tax credit etc.
You don't need a great credit rating either to open this account and you easily upgrade your account even if you have a basic account, I know plenty of people who have been recently bankrupt and have this account.
We’ll give you up to £7 every month that you’re eligible to say thank you for banking with us
We’ll pay your Loyalty Reward into your Rewards Wallet on the same day, as long as you’ve paid in at least £800 and paid your £3 fee each month
When you join we’ll ask you to choose a suitable current account for Barclays Blue Rewards. Most of our accounts are suitable, including Premier.
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Opening post
You need the following: Two direct debits active on your account and at least £800 received into the account such as your salary, pension, housing benefit, all social benefits, tax credit etc.
You don't need a great credit rating either to open this account and you easily upgrade your account even if you have a basic account, I know plenty of people who have been recently bankrupt and have this account.
Latest comments (43)
been doing this well over a year now.
I know you can all add but:
£36 in
£180 out
£144 win PA!
My parents have Barclays accounts, have this, and don't use online banking.
People be somehow thinking that the Bank's are unable to balance their book's as it were? (because the Bank's be perhaps poor, or something?).
Think again ... lol. :-D
The £7 Loyalty Reward received up to and including November 2016 for being part of Barclays Blue Rewards is subject to UK income tax and may need to be declared to H M Revenue & Customs.
All other current rewards and cashback earned through Blue Rewards, and any Loyalty Reward received from December 2016, are not subject to UK income tax.
I don't understand this to be honest.....This shows you paying £7 a month not £3?
Halifax £5 has gone down to £3
No thanks
You need the following: Two direct debits active on your account and at least £800 received into the account such as your salary, pension, housing benefit, all social benefits, tax credit etc.
You don't need a great credit rating either to open this account and you easily upgrade your account even if you have a basic account, I know plenty of people who have been recently bankrupt and have this account.