Barclays has issued an update on whether a cash bonus incentive for switching will return. The bank was asked if it has any plans for another similar cash bonus scheme, after Nationwide, which has branches in Birmingham, announced £100 Fairer Share payments.
Barclays Statement on Bonus Payments
A spokesperson said: "We regularly review our products and offers to make sure they meet the needs of our customers, and we'll continue to assess opportunities in this space." Barclays added in its response: "We keep our propositions under constant review, listening closely to customer feedback and considering a range of factors to ensure we’re providing competitive and compelling options."
Business Confidence and Technology Investment
It comes after it emerged Barclays’ Q1 2026 Business Prosperity Index revealed that the vast majority of UK businesses (85 per cent) remain confident in the strength of their business, despite 80 per cent reporting a negative impact from the Middle East conflict. Businesses are doubling down on technology investment, with rising AI investment now matched by a sharp increase in cybersecurity spending.
Matt Hammerstein, CEO of Barclays UK Corporate Bank, said: "UK businesses are now operating in an environment where uncertainty has become the norm. Geopolitical instability and persistently high costs are feeding directly into cashflows, borrowing decisions and investment plans. What’s striking, however, is how businesses are responding. Rather than pulling back entirely, many are adapting to this new reality by tightening financial discipline, managing cash carefully and prioritising investment where it strengthens resilience, productivity and long-term competitiveness."
Abdul Qureshi, Head of Barclays Business Banking, said: "SMEs are navigating higher costs and ongoing uncertainty, which continues to weigh on day-to-day decisions. While larger firms push ahead with longer-term borrowing, many smaller businesses are focused on building cash buffers and closely managing their financial position. At the same time, AI is starting to present tangible opportunities for SMEs, particularly where it can help improve productivity and make everyday tasks more efficient."
