Barclays is offering a £200 bonus to eligible customers who switch their current account to the bank, but there are strict deadlines and eligibility criteria to be aware of.
Key Details of the Offer
Barclays is providing bonus cash incentives to selected customers, though several important deadlines must be observed. The bank will reach out to qualifying customers directly about these offers. By transferring your current account to a Barclays Bank Account, you could receive a £200 payment. You will be required to complete a full switch through the Barclays app, which involves closing your previous account.
Your switch must feature a minimum of two direct debits and must be processed via the Current Account Switch Service. If you are considering this promotion, swift action is necessary. You must initiate your switch by Thursday, May 28.
Nevertheless, if you fail to meet the May 28 cut-off date, an opportunity to claim the offer might remain. Information on the Barclays website explains: "If you have any issues switching on the final day of the campaign, you'll still be eligible if you start the switch the next working day (and you meet all the other criteria)."
30-Day Rule and Deposit Requirement
A further critical deadline to note is that your switch must be completed within 30 days of establishing your new account. Furthermore, you must pay in at least £2,000 into the account during the identical 30-day timeframe, reports the Mirror.
After all requirements have been satisfied, Barclays will credit the £200 to your new account within 45 working days of you meeting the conditions. The Barclays guidance confirms: "You'll get a text once you've reached the eligibility criteria and verification checks have been completed - there's no need to contact us."
Eligibility and Exclusions
Those who have previously taken advantage of a switching incentive from Barclays will be ineligible for the offer. This covers any switching deals where you transferred your current account to the bank. To qualify, you must be at least 18 years old and a UK resident. The offer is only accessible when switching to a Barclays Bank Account held in a sole name.
The deal does not apply to switching to a Barclays Basic Bank Account. The transfer must come from a non-Barclays account, which means moving funds from an existing Barclays account will not be permitted.
