Brits given three-day deadline to claim 'free' £200 from Barclays
Time is running out to bag yourself a completely free £200.
Barclays Bank is among several banks in the UK offering cash incentives to swap your banking with them, and it's a move backed by Money Saving Expert Martin Lewis.
It's easy to claim the prize, too, and can be completed by following three simple steps:
- Open a Barclays Bank account, but you must use the Barclays app to do so
- Use the app to complete a full switch from your current bank. That means setting up at least two direct debits
- Pay a minimum of £2,000 into your account
If you do all that and meet the qualifying conditions, Barclays will text you shortly afterwards to let you know that the £200 is en route.
However, you have to act quickly, as there are just three days remaining to claim the offer, which expires on August 27, 2026.
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You have to have applied for the account and begun the process of switching, using the Current Account Switch Service (CASS) and following the in-app instructions, by Thursday.
The switch must then be completed, which includes paying in £2,000 within 30 days to claim the cash.
How to qualify for the £200 Barclays bonus
There are some criteria you have to follow to qualify, though. For starters, the account has to be for a sole person, with no joint accounts allowed.
Additionally, you can't have been awarded a switching bonus from Barclays before and it is for new customers to the bank.
Meaning, you can't have had a Barclays current account on or before June 9, 2026.
You have to be aged 18 or older and a UK resident, too, of course.
As long as you fit the bill, you'll be able to claim that £200 with ease and, in another added bonus, it'll be paid to you within 28 days, which is a lot quicker than some other banks.
In Martin Lewis' Money Saving Expert newsletter, the offer is praised as: "A strong choice if you want a simple account that pays a big cash bonus."
Though it's not necessary to claim the bonus, you can get a few extra perks with a Barclays current account if you sign up to their Blue Rewards scheme.
It costs £5 a month but gives you cashback rewards, exclusive interest rates on saving accounts and unlimited access to Apple TV, which usually costs £9.99 a month.
With Slow Horses coming back soon, that could be tempting.
It's not the only switching offer up for grabs
With the cost of living crisis rumbling on, people are doing all they can to stretch their finances and it's little wonder switching offers are so appealing.
There are plenty more available at the moment, too, so make sure to look at what's best for you.
As Lewis said in his newsletter in June: “We say grab the cash if it works for you, but don't let it buy your loyalty.
"You needn't stick with the bank for other products, so bag yourself the best credit card, loan, savings, mortgage and more from across the market.
"However, don't let that stop you getting paid for your custom.”
Another offer currently available comes from HSBC UK, who are offering qualifying new customers £220 within 60 days if they switch their banking to them and follow similar steps to Barclays.
However, in this case, you still qualify for the prize even if you have received a cash incentive from HSBC UK, or sister bank First Direct, before, just as long as it was before January 1, 2023, and you are no longer a customer.
Daniel Murphy