Barclays Premier Account Switch Offers £400 Bonus with Strict Eligibility Criteria
Certain Barclays customers are in line for a significant financial boost, as the bank has unveiled a £400 switching bonus targeted at new Premier Current Account holders. This offer is part of a competitive landscape where several UK banks are running similar incentives to attract customers through account switches.
Eligibility Requirements for the £400 Bonus
To qualify for the £400 incentive, applicants must meet a series of strict criteria within 30 days of opening the account. The offer is exclusively available for a sole Premier Current Account applied for through the Barclays app. A complete switch from a non-Barclays account must be executed using the Current Account Switch Service (CASS), and this transfer must include at least two active direct debits.
Additionally, a minimum deposit of £4,000 must be paid into the new account within the initial 30-day period. Financial eligibility is determined by one of two criteria: either a gross annual income of £75,000 or more paid into the account, or holding at least £100,000 in savings or eligible investments with Barclays.
Exclusions and Ineligibility Rules
Barclays has established clear rules regarding who cannot claim this bonus. Existing customers who held any Barclays personal current account on or before February 17, 2026, are excluded from the offer. Furthermore, individuals who have previously received a switching bonus from Barclays are also ineligible to claim this new incentive.
Once all eligibility requirements are satisfied, the bonus is typically paid into the customer's account within 28 working days. The deadline for completing the full switch is April 30, 2026, making it crucial for interested parties to act promptly.
Additional Premier Account Benefits
Beyond the £400 switch bonus, the Barclays Premier Current Account offers several attractive perks. The account carries no monthly fee and includes entertainment benefits such as Apple TV+ and an MLS Season Pass at no extra cost. Barclays emphasizes that customers can "make memories that last with early-access tickets and exclusive events, plus an Apple TV subscription worth £9.99 a month."
Account holders also gain access to the Rainy Day Saver account, which currently offers an Annual Equivalent Rate (AER) of 3.98% on balances up to £5,000. Barclays adds, "When you’re with Premier, you get exclusive rates on savings and mortgages, plus investment options to help you hit your financial goals."
Enhanced Incentive for Larger Transfers
New Premier customers have the opportunity to earn a total incentive of up to £1,000 by taking advantage of a secondary offer. By transferring an ISA balance of £100,000 or more to Barclays by April 30, 2026, customers can secure an additional £600 bonus on top of the initial £400 switching incentive.
Understanding the Current Account Switch Service
Barclays utilizes the Current Account Switch Service (CASS), a free service backed by the Current Account Switch Guarantee, which ensures a simple, smooth, and stress-free switching process. The bank explains, "Everything’s done for you. When you’ve opened a new account with us, we’ll move all your incoming and outgoing payments across to your new Barclays account in just seven working days."
This includes transferring salaries, benefits, direct debits, standing orders, and bills. On the day of the switch, any remaining money is also transferred, and the old account is closed. Payments made to the old account are redirected to the new one for at least three years, providing a seamless transition for customers.
