Overview

• Barclays is offering £200 for switching to a Barclays Bank Account or £400 for a Premier Current Account, plus up to £500 for moving ISA savings.
• To qualify, customers must complete a full switch via the Current Account Switch Service with two direct debits; Premier requires £75,000 annual income paid in or £100,000 held with Barclays, and the ISA bonus needs a £100,000 transfer.
• Lloyds is paying £200 to new switchers, while Nationwide, NatWest and First Direct have offers around £175, with other high-street names flagged as active in the market.
• The Current Account Switch Service transfers balances, direct debits and regular income within seven days, simplifying the process for eligible customers.
• Total returns could top £1,100 by pairing Barclays’ maximum bonuses with about £207 interest from its 4.36% Rainy Day Saver on £5,000, though account fees and lost perks may reduce the net benefit.