Barclays has outlined how customers can claim its £400 cash incentive, available to those switching to a particular Barclays current account who fulfil specific requirements. Applicants must complete a full switch before the closing date of 30 April 2026.
Barclays joins a number of UK banks that are currently offering cash rewards to customers who transfer their accounts. Certain customers could receive up to £500, though this varies depending on which bank they opt to switch to. Lloyds, Barclays and Santander are amongst the banks presently offering £100s to current account holders who transfer to them.
To secure the £400 payment with Barclays, customers must satisfy several stringent conditions within 30 days of account opening. The key steps and eligibility criteria are:
The account must be a sole Premier Current Account opened exclusively via the Barclays app. A complete transfer of a non-Barclays account must be carried out through the Current Account Switch Service (CASS), including a minimum of two active direct debits.
At least £4,000 must be deposited into the new account during the initial 30 days. Applicants must satisfy one of two financial thresholds. Either receive a gross annual income of £75,000 or above into the account, or maintain a minimum of £100,000 in savings or qualifying investments with Barclays, reports the Mirror.
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The bank has established clear exclusion criteria. Existing customers who held any Barclays personal current account on or before February 17, 2026, aren't able to participate.
Additionally, customers who have previously claimed a switching bonus from Barclays are ineligible for this latest promotion. Once all eligibility criteria are satisfied, the bonus is usually credited to the customer's account within 28 working days.
Beyond the £400 switching incentive, the Barclays Premier account offers several additional benefits. The Barclays Premier Current Account has no monthly charge. It also includes extra entertainment benefits for account holders.
Customers gain access to Apple TV+ and an MLS Season Pass without additional cost. Barclays states: "Make memories that last with early-access tickets and exclusive events, plus an Apple TV subscription worth £9.99 a month."
The account also provides 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 notes: "When you're with Premier, you get exclusive rates on savings and mortgages, plus investment options to help you hit your financial goals."
New Premier customers can secure a total incentive worth up to £1,000 through a secondary promotion. By moving an ISA balance of £100,000 or more to Barclays by 30 April 2026, customers can receive an additional £600 bonus.
For the latest terms and conditions, customers should consult the complete offer details on the Barclays website.
Barclays states the Current Account Switch Service (CASS) is a complimentary facility enabling customers to transfer their current account between banks or building societies. It's supported by the Current Account Switch Guarantee, which guarantees the procedure is straightforward, seamless and hassle-free.
It 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. That's things like your salary, benefits, Direct Debits, standing orders and bills.
"We'll also transfer any money on the day of the switch. Your old account will be closed, and any payments made to your old account will be redirected to your new one for at least three years."
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