Barclays Urges Customers To Withdraw £1,500 ‘Within The Next 10 Days’

Barclays, one of the largest UK banks, is once again attracting attention with a generous switching reward.

The bank has announced that customers who switch their account and follow specific steps can receive a £175 free cash incentive.

However, this offer comes with strict conditions, including the requirement to deposit £1,500 within 10 days into the new account.

This campaign is part of Barclays’ wider strategy to encourage new customers to join, but the deadline is fast approaching.

Customers must take action before 28 August 2025 if they want to secure the bonus.

Barclays’ £175 Switching Incentive Explained

The bank is offering a £175 cash reward to anyone who successfully completes the switching process.

This offer is designed to compete with other leading high-street banks, which often use similar incentives to attract new account holders.

To qualify, individuals must not only open a new account but also transfer money, set up Direct Debits, and complete the switch entirely through the Barclays mobile app.

Key Conditions for the Offer

Barclays has outlined a clear set of requirements for those who want to benefit from the free £175 payment.

Each step must be completed in the right order and within the specified timeframe.

Open a New Barclays Account

Applicants must open a Barclays Bank Account or a Premier Current Account.

This must be done using the Barclays app. Without opening the account digitally, the switching reward cannot be triggered.

Join Blue Rewards (For Bank Account Holders)

If customers choose the Barclays Bank Account, they must also enroll in Blue Rewards, which costs £5 per month.

This subscription service provides extra perks, including cashback offers and access to exclusive deals.

Premier Current Account holders are not required to join Blue Rewards.

Complete a Full Account Switch

A complete account switch is mandatory. This means moving over all existing banking arrangements, including at least two active Direct Debits. The switching process must be initiated and finalized within the Barclays app.

Deposit £1,500 Within 10 Days

The most urgent requirement is to deposit £1,500 into the new account within 10 days.

Barclays has emphasized that without this deposit, customers will not qualify for the bonus.

This step ensures that the account is actively used rather than opened solely to claim the incentive.

Deadline to Act – 28 August 2025

Barclays has clearly stated that the deadline to complete all these steps is 28 August 2025.

With the countdown already in motion, customers effectively have just 10 days to act.

Missing this deadline means losing out on the £175 reward entirely.

Step-by-Step Process to Claim the Bonus

Step	Requirement	Details
1	Open a Barclays Bank Account or Premier Current Account	Must be done through the Barclays app
2	Join Blue Rewards	Required only for Barclays Bank Account (£5/month fee)
3	Complete a Full Account Switch	Must include at least two Direct Debits
4	Deposit £1,500	Must be paid into the new account within 10 days
5	Deadline	All steps must be completed by 28 August 2025

Why Is Barclays Offering This Incentive?

Banks often provide cash switching bonuses to compete for new customers.

By requiring account holders to deposit money and set up Direct Debits, Barclays ensures that new joiners become active and long-term customers rather than short-term switchers.

The £175 reward is one of the more competitive offers currently available in the UK banking market.

Other banks have previously offered similar bonuses ranging from £150 to £200, but Barclays’ offer stands out due to the relatively short 10-day deadline, which creates urgency.

What Customers Need to Consider

While the £175 bonus sounds attractive, customers should be aware of the following considerations:

• Blue Rewards Fee: Those opening a standard Barclays Bank Account must pay £5 per month for Blue Rewards, which reduces the net benefit slightly.
• Eligibility Restrictions: The switching offer is typically only available to new Barclays customers or those who haven’t held a Barclays current account in recent years.
• Ongoing Account Usage: Barclays may monitor the account to ensure it remains active, meaning it is best suited for customers who plan to use it regularly.

Future Outlook for Banking Incentives

With the UK banking sector becoming increasingly competitive, switching bonuses are expected to continue throughout 2025.

Barclays’ £175 offer is part of a wider trend where banks use financial incentives to attract and retain customers.

Experts believe that as the cost-of-living crisis continues, many people will be more inclined to switch banks if it means receiving free cash or better rewards.

Barclays’ latest £175 switching bonus is an attractive deal, but customers must act fast to secure it.

The requirements are straightforward but must be completed precisely: open the account, join Blue Rewards if necessary, switch fully with Direct Debits, and deposit £1,500 within 10 days.

With the final deadline of 28 August 2025, this is a limited-time opportunity.

For those considering a switch, this incentive could provide a useful financial boost—provided they meet all the terms and conditions.

Frequently Asked Questions