Barclays Clears Up Confusion Over £175 Switch Bonus – Who Really Qualifies?

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: