Barclays has clarified its eligibility rules for a £175 cash incentive after customers expressed confusion over who counts as a “new customer.” The offer, designed to attract account switchers, initially seemed restricted to brand-new clients—but there’s an important exception.
“New Customer” Rule Explained
The bank’s promotion applies to those opening either a:
✔ Barclays Bank Account (with Blue Rewards)
✔ Premier Current Account
However, confusion arose when an existing Barclays customer—who held a mortgage and credit card but no current account—asked if they qualified. Barclays confirmed via social media:
“If you’ve never had a current account with us, you’d absolutely be classed as a new customer.”
This means longstanding mortgage or savings customers may still be eligible if they’re opening their first Barclays current account.
Key Steps to Claim the £175 Bonus
To secure the payout, customers must:
Open an eligible account (Barclays Bank Account or Premier Current Account)
Join Blue Rewards (if opting for the standard account)
Switch via the Current Account Switch Service (CASS)
Transfer at least two active direct debits
Complete the switch within 30 days
Deposit £1,500+ within 30 days
Keep the account open until the bonus is paid
Why Barclays Is Pushing Account Switches
Banks frequently use cash incentives to attract switchers, with Barclays joining NatWest (£200) and First Direct (£175) in offering similar deals. According to MoneySavingExpert, these promotions can be lucrative—but customers should also consider:
Account fees (e.g., Premier accounts may require higher balances)
Switching timelines (miss the 30-day window and you forfeit the bonus)
Alternative perks (some banks offer better interest rates or rewards)
Need More Help?
For full terms, visit Barclays’ official offer page or check Which?’s switching guide for expert tips.
