Barclays is offering a £175 bonus to new customers who switch their current account to the bank — but there are just days left to claim it. The offer ends this Thursday, August 28, 2025, and is only available to those who apply via the Barclays app.
According to Devon Live, this limited-time incentive targets first-time current account holders and forms part of a broader campaign to attract new clients. While the move comes at a time of widespread scrutiny in the banking sector, it coincides with ongoing pressure on household budgets linked to energy costs, though the bank has revealed little else.
Full Eligibility Criteria for New Customers
The offer is open to new customers who open either a Barclays Bank Account or a Premier Current Account between July 15 and August 28, 2025. To receive the bonus, customers must not have previously opened a Barclays current account before July 15, 2025, and must not have claimed any switching bonus from Barclays in the past.
The incentive does not apply to those who:
- Are under 18
- Are opening a joint account
- Live outside the UK
Barclays explicitly states:
You’re not eligible if you’ve taken up a switching offer from us in the past, opened a Barclays account before 15 July 2025, or don’t live in the UK.
Four-Step Process to Claim the £175
To qualify for the bonus, eligible applicants must complete the following steps via the Barclays app by Thursday:
Step 1: Open a Barclays Bank Account or Premier Current Account in the Barclays app
Step 2: If you’ve opened a Barclays Bank Account, join Blue Rewards (£5/month required)
Step 3: Complete a full switch including at least two active Direct Debits
Step 4: Deposit £1,500 into the newly opened account
Once all conditions are met, the £175 bonus will be paid directly into the account.
Context: Recent Regulatory Fine
The switch offer comes in the wake of regulatory action against Barclays, which was fined £42 million last month by the Financial Conduct Authority (FCA). The watchdog found the bank had “failed to adequately manage money laundering risks” involving two corporate clients.
According to the FCA, Barclays did not act despite receiving information from law enforcement agencies about suspicious financial activities. The fine has drawn renewed attention to the bank’s compliance systems and internal risk management protocols.
Account Types and Blue Rewards Conditions
Customers can choose between the Barclays Bank Account or the Premier Current Account. Those who opt for the standard Barclays Bank Account must enroll in Blue Rewards, which costs £5 per month. This program offers cashback and other incentives, which may offset the fee depending on usage.
No Blue Rewards enrollment is required for those selecting a Premier Current Account, which typically targets customers with higher income or savings thresholds.
Only a Few Days Left to Apply
With the August 28 deadline falling this Thursday, potential applicants now have only a short window to begin and complete the switching process. As the switch must be fully finalized via the Barclays app, early action is advised.
Further details, including full terms and conditions, can be found on the official Barclays website.
