If you’ve been dragging your feet on switching banks, here’s a little nudge: Barclays offers £175 cash bonus when you bring your current account over. Yep, real money—not points, not coupons, not crypto. But just like those “doorbuster” deals on Black Friday, there’s a catch: the offer expires 28 August 2025.
Let’s break this down with some friendly, no-fluff advice: what’s on the table, how to qualify, where folks trip up, and whether this bonus is truly worth your time.
Barclays Offers £175 Cash Bonus
| Point | Details |
|---|---|
| Offer | £175 cash bonus for switching to Barclays |
| Deadline | Switch must be started by 28 August 2025 |
| Requirements | Open via Barclays app, move 2+ Direct Debits, deposit £1,500 in 30 days |
| Bonus Payment | Within 28 working days of meeting requirements |
| Eligibility | New to Barclays current accounts (never held one before 15 July 2025) |
| Extra Perks | Blue Rewards adds Apple TV+, savings perks, cashback |
| Official Info | Barclays Website |
The Barclays £175 switching bonus is one of the better bank deals of 2025—but only if you’re new to Barclays. With the deadline of 28 August 2025, you’ll need to act quickly.
If you already pay for Apple TV+ or want an easy savings boost, the Blue Rewards package makes it even sweeter. Just weigh the ongoing £5/month fee and check if other banks (First Direct, Santander, Lloyds) offer a better fit.
Bottom line? If you qualify, this is basically getting paid £175 for less than an hour’s work. Not bad at all.
Why Barclays Is Handing Out Free Money
Banks don’t just give away cash for fun—they’re playing the loyalty game. According to UK Finance, nearly 1 million Brits switched banks in 2024, mostly for better perks and interest rates. Barclays is betting that once you switch, you’ll stay, deposit your paycheck, maybe grab a mortgage, and basically become “their” customer for years.
It’s the same playbook you’ll see in the States—banks like Chase, Wells Fargo, and Citi have been dishing out $200–$400 switch bonuses for ages. Barclays is simply raising the stakes in the UK.
Step-By-Step Guide to Bagging the £175 Bonus
Think of this like a recipe—you need every ingredient, or it flops.
1. Open the Right Account
- Barclays Bank Account (requires Blue Rewards at £5/month).
- Barclays Premier Account (aimed at higher earners, no Blue Rewards needed).
2. Apply Through the Barclays App
Forget branch lines—Barclays only accepts applications via their mobile app.
3. Switch Using CASS
The Current Account Switch Service (CASS) is your buddy here. It moves your Direct Debits, standing orders, and balance in 7 working days. Barclays requires at least two Direct Debits.
Example: Move your Netflix and Spotify payments over. They count.
4. Deposit £1,500 Within 30 Days
Doesn’t matter if you withdraw it later. Barclays just wants proof that real money is flowing through your account.
5. Wait for Payday
Meet all conditions, and Barclays drops £175 into your account within 28 working days.
Who Qualifies (and Who Doesn’t)
- Eligible if you’ve never had a Barclays current account before 15 July 2025.
- Not eligible if you’ve ever held one (even if you closed it last year).
- Not eligible if you’ve already bagged a Barclays switching bonus in the past.
This is Barclays’ way of weeding out “bonus hoppers” who jump from deal to deal.
Extra Perks with Blue Rewards
If you pick the standard account, you’ve got to join Barclays Blue Rewards (£5/month). What’s in it?
- Apple TV+ subscription (worth £8.99/month).
- Access to Rainy Day Saver paying up to 4.61% AER on balances up to £5,000.
- Cashback on debit card spending.
Note: That Rainy Day Saver rate drops to 4.36% in August 2025—still competitive, but not mind-blowing.
Is It Worth It? (Let’s Do the Math)
- Bonus = £175
- Blue Rewards fee = £5/month = £60/year
- Net bonus = £115 plus perks
If you were already paying for Apple TV+, you’re effectively saving £8.99/month—meaning Blue Rewards pays for itself. For casual customers, it’s still a decent win.
What Customers Say About Switching
Over on MoneySavingExpert forums, folks swapping to Barclays have mixed reviews:
“The switch itself was smooth, but Blue Rewards confused me at first. Still, the Apple TV+ perk is sweet.”
“Got my £175 exactly 26 days after deposit. Easy money, no drama.”
This matches wider research: 9 in 10 CASS users say the process is simple, according to Pay.UK.
Hidden Downsides You Should Know
Not every glittering £175 is gold. Here are the watch-outs:
- Monthly Blue Rewards fee eats into the bonus if you forget about it.
- Limited eligibility means many long-time customers are left out.
- Savings perks aren’t guaranteed—rates change regularly.
- Spending habits matter—if you never use Apple TV+ or cashback, those extras are wasted.
Expert Commentary
MoneySavingExpert founder Martin Lewis often advises: “Switching banks is one of the easiest ways to earn free cash.” But he also stresses checking your lifestyle fit—if the add-ons aren’t useful, you’re better off chasing other bank bonuses.
The Financial Conduct Authority (FCA) also reminds customers that switching shouldn’t just be about upfront cash—look at long-term fees, overdraft rates, and customer service.
U.S. Comparison
If you’re used to American deals, this feels familiar:
- Chase Total Checking®: $200 bonus.
- Wells Fargo Everyday Checking: $300 bonus.
- Citi Priority Account: Up to $2,000 bonus (with huge deposits).
So, Barclays’ £175 (~$220 USD) lands right in the middle. Not the highest, but with low hurdles compared to U.S. mega-deposit offers.
Comparison Table
| Feature | Barclays Bank Account | First Direct 1st Account | NatWest Select Account |
| Switch Bonus | £175 | £175 | £125 + £50 (NatWest DRS) |
| Monthly Fee | None (but £5 for Blue Rewards) | None | None |
| Direct Debits Req. | At least 2 | None specified | None specified |
| Minimum Pay-in | £1,500 within 30 days | None specified | £1,250 within 60 days |
| How to Apply | Barclays app only | Online or via app | Online or via app |
Note: All offers are subject to specific terms and conditions and can be withdrawn at any time. Information is correct as of August 2025.
Top 3 Mistakes to Avoid
- Mistake #1: Not using the right channel. You must open the new account and initiate the switch through the Barclays app to be eligible. Applying online or in a branch won’t qualify you for the bonus.
- Mistake #2: Not joining Blue Rewards. If you are opening a standard Barclays Bank Account, you must also sign up for the Blue Rewards scheme to get the bonus. This comes with a £5 monthly fee, so factor this into your decision.
- Mistake #3: Forgetting the pay-in. The offer requires you to pay in a minimum of £1,500 within 30 days of opening the account. Missing this step means you won’t get the bonus.
Pro Tips to Maximize This Deal
- Line up Direct Debits before applying—saves stress.
- Deposit exactly £1,500 once—no need to park it.
- Cancel Blue Rewards later if you’re not using the perks.
- Stack bonuses—after 12 months, you can switch again to Santander or Lloyds for another payout.
Tax Angle
Quick PSA: In the UK, switching bonuses are taxable income. HMRC treats them like interest. That means if your annual savings interest and bonuses exceed your Personal Savings Allowance (£1,000 for basic-rate taxpayers), you may owe tax.
Most people won’t hit that cap, but keep it in mind.
FAQs
Q1: Do I need to close my old bank account?
Yes, CASS automatically closes your old account once the switch completes.
Q2: Can joint accounts qualify?
Yes, but both account holders must meet the eligibility criteria.
Q3: Do standing orders count instead of Direct Debits?
No. Barclays specifically requires Direct Debits.
Q4: When’s the latest I can apply?
Start the switch by 28 August 2025—miss it, miss out.
Q5: Will switching hurt my credit score?
No. A soft check may happen, but switching won’t tank your score.
