Barclays launches new £400 switching deal — who is eligible?

Barclays is offering new customers between £200 and £400 for transferring their current account.

The high street lender’s deal is the highest bank switching offer available on the market now. But in order to get the full £400, you have to jump through some hoops — and quickly.

The bank is also offering customers cashback via another incentive. Last month, Barclays launched a £500 cashback offer for ISAs, which you can still take advantage of, bringing the total potential rewards to a whopping £900.

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While the £400 offer is attractive, you will need to have a lot of money in your account to qualify.

We look at what’s on offer and if you’re eligible.

Barclays’ new switching deals explained

You may be able to get anywhere between £200 and £400 from Barclays, based on which account you transfer your money to.

How to get the £200 Barclays switch offer

New customers can get £200 if they follow these steps:

• Open a Barclays Bank Account through the Barclays app.
• Join Blue Rewards for £5 a month.
• Complete a full switch, including at least two direct debits.
• Deposit a minimum of £2,000 within 30 days of opening the account.

Once you’ve followed these steps, you’ll receive the £200 in your new account within 28 days.

The only eligibility criteria here is that you must have at least £800 paid into the account every month.

The switching offer is only available until 27 November 2025.

With Blue Rewards, you can earn up to 15% cashback on everyday spending, better savings rates, and a free Apple TV subscription, usually worth £9.99 per month. Note that Blue Rewards has a £5 monthly fee.

How to get the £400 Barclays switch offer

New customers can get double the amount if they follow the steps mentioned below — but eligibility rules apply. You must:

• Open a Barclays Premier Current Account through the Barclays app.
• Complete a full switch, including at least two direct debits.
• Deposit a minimum of £4,000 within 30 days of opening the account.

Here’s the caveat, though. In order to be eligible for this account, you will need to have a gross annual income of £75,000 or have at least £100,000 in savings, eligible investments, or a mix of both.

Eligible investments include investment ISAs, SIPPs, or General Investment Accounts that are held with Barclays.

The switching offer is only available until 27 November 2025.

Are existing Barclays customers eligible for the bonus?

If you’re already a Barclaycard, mortgage or savings account customer, you can still get the £200 or £400 bonus by following these steps:

• Delete the Barclays app from your phone.
• Reinstall the app and register as a new customer for either a Barclays Bank Account with Blue Rewards or a Premier Current Account.
• Wait up to 48 hours for your new account to appear in the app.

If, for any reason, you’re unable to access your new account, contact Barclays for support.

Could you get £900 cashback from Barclays?

In September, Barclays launched a £500 cashback offer for customers who transfer their cash ISA to the high street lender.

There’s a caveat though: you can only get the full £500 if you transfer more than £100,000 to the new account. To do that, you’ll need to have a Barclays current account for the money to be sent to, and you must open it before 28 November.

While the £100,000 can come from multiple accounts, a few ISAs are excluded from the offer. This includes Lifetime ISAs, Help to Buy ISAs, and other Barclays ISAs.

After the transfer is successful, you’ll get the cash in your current account within 60 business days after 28 November 2025.

If you are eligible for both the £500 ISA transfer and the £400 bank switching deal from Barclays, you could get a total of £900.

Which Barclays account is better for me?

If you earn more than £75,000 or have at least £100,000 in savings or eligible investments with Barclays, it might be worth considering a Barclays Premier account, as it comes with a higher cash bonus and other perks.

We’ve broken down the deals on offer from both of the aforementioned Barclays accounts to help you compare.