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:
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Open an eligible account (Barclays Bank Account or Premier Current Account)
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Join Blue Rewards (if opting for the standard account)
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Switch via the Current Account Switch Service (CASS)
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Transfer at least two active direct debits
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Complete the switch within 30 days
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Deposit £1,500+ within 30 days
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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:
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Account fees (e.g., Premier accounts may require higher balances)
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Switching timelines (miss the 30-day window and you forfeit the bonus)
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Alternative perks (some banks offer better interest rates or rewards)
