Money experts explain who can claim Barclays 'up to £300' payment offer

Money experts explain who can claim Barclays 'up to £300' payment offer Millions of people could be eligible to earn this money A deal offering Barclays customers up to £300 to switch banks has been flagged by money experts. One finance specialist says the offer is the "biggest overall switch cash offer from a simple account". The Barclays switch offer is one of several products highlighted in the latest Moneyfactscompare.co.uk 'Pick of the Week' rundown from October 2. Caitlyn Eastell, personal finance analyst, said switchers "could now receive up to £300" if they met certain criteria, and explained what those eligible would need to do. She said: "Consumers could now receive up to £300 for switching using the Current Account Switch Service (CASS) and meeting certain conditions, such as depositing at least £2,000. Alongside the attractive cashback offer, customers can also sign up for Blue Rewards, which gives them access to exclusive members-only savings accounts and the opportunity to earn cashback with Barclays Cashback partners." Caitlin added: "Before opening an account, it’s important that consumers can meet any restrictions and that they can make full use of any additional perks to avoid overpaying. Overall, the account earns an Excellent Moneyfacts product rating." The deal was also highlighted by experts within Martin Lewis' MoneySavingExpert (MSE) team. In a regularly updated MSE report, money analyst Gavin Shepherd and money editor Chris Collier claim this Barclays offer is the "biggest overall switch cash offer from a simple account". What is expected of new customers to earn £300? The Barclays Bank Account pays £150 upfront for switching at least three Direct Debits and paying in monthly earnings of at least £2,000 (or more) in the first month. This can be via BACs from an employer, state or private pension, transfers from a UK business account, or benefits payments - you can't just transfer the money from another personal current account. For the five additional £30 payments, continue to pay in at least £2,000 a month via the approved methods. Customers must also make at least 10 debit card payments in each of the next five months. Am I eligible for the offer? The Barclays website makes it clear who is (and is not) eligible to earn this cash offer. For the main £150 cash bonus, customers need to: - Be a new Personal Sole Barclays Current Account customer - Be a UK resident aged 18 or over - Download the Barclays app to open a sole Barclays Bank Account from October 1, 2026, until the offer is withdrawn - Start your application through the Barclays app before the offer is withdrawn, and complete it within 21 days of starting your application - Complete a full switch using the Current Account Switch Service (CASS) from another UK bank or building society. Your switch must include at least three active Direct Debits - Complete the switch request within 30 days of opening your account - Pay a salary of at least £2,000 into the Barclays Bank Account you’re switching to within 30 days of opening the account - Have an open sole Barclays Bank Account when we pay your switch reward Those who qualify for the initial bonus will also be eligible for the remaining £150 spread over five months. The full list of criteria to be eligible for the second half of the bonus scheme (must be met every month) is: - Make at least 10 eligible debit card purchases using your Barclays debit card - Receive salary payments totalling at least £2,000 into the Barclays Bank Account - Have an active Barclays Account on the date we pay you your £30 Engagement Reward The main thing that will stop people from claiming any cash from Barclays is if you already had an open Barclays Current Account on or before the offer started on October 1. Barclays added: "This includes but is not limited to a Barclays Bank Account, student or graduate account, or a Premier Current Account." [Image text:] BARCLAYS BARCLAYS Cash BARCLAYS BARCLAYS Cay ln cosh od chees