High street bank Barclays is currently providing a tempting £200 cash incentive to attract new current account customers. However, to secure this welcome bonus, applicants must carefully follow a specific set of rules, including a crucial step of paying a precise amount into the new account.
Understanding the £200 Bonus Criteria
To be eligible for the £200 welcome bonus, new customers must first sign up for the Barclays Blue Rewards scheme, which costs £5 per month. The second, and perhaps most important requirement, is to pay at least £2,000 into the new Barclays Bank Account.
This condition caused some confusion, with one customer taking to social media to ask if simply opening the account was sufficient. Barclays clarified directly, stating that paying in the £2,000 is a mandatory part of the deal.
How to Pay In the £2,000
According to the official Barclays website, the £2,000 must be paid into the new account within 30 days of opening it. The bank offers flexibility, confirming that customers can transfer the total amount in one go or through multiple smaller instalments, as long as the cumulative total reaches £2,000 within the first month.
This offer comes as Barclays also promotes another significant incentive for loyal customers, with a welcome bonus of up to £900 available, including £400 cash upfront. To qualify for this, customers need to act quickly, applying for the current account by November 28 and requesting an ISA transfer by November 29.
Act Now to Secure Your Bonus
Nick Robinson, managing director at Yorkshire Accountancy, advises customers not to delay. "Getting an early start on your Barclays switch gives you plenty of time to complete the process smoothly and avoid unnecessary stress," he said.
He emphasised that the switching process, which involves moving direct debits and standing orders, can take several days. Acting early helps ensure all payments are transferred correctly and secures the bonus before banks become exceptionally busy during the festive period.
