High earners could get £1,000 from Barclays thanks to rewards offered by a cash ISA transfer promotion offered by the high street bank. Those who meet the eligibility requirements for Barclays’ Premier Current Account can get £400 cashback by transferring their banking to it via the Current Account Switch Service (known as Cass).
The Premier account is fee-free, but open only to those who pay in a gross annual income of at least £75,000 – or have a total balance of at least £100,000 in savings with the bank, in eligible investments, or a combination of the two, Barclays says on its website.
Benefits of the account include an Apple TV subscription, access to exclusive savings rates and mortgage options and higher payment limits.
However, in order to get the £400 signing on bonus, customers must meet some additional criteria. This includes not having a current account with the bank as of February 17 this year, and opening your account in the Barclays app, as per This is Money.
After that, you would need to complete a full switch using their app, despositing at least £4,000 into it within 30 days.
You’ll also need to set up a minimum of two active direct debits before this date to be eligible for the £400 cash boost, which will desposited into your Premier account within 28 working days of meeting the eligibility criteria.
A separate offer for switching to the bank’s fixed-rate cash ISA could also secure you as much as £600, or £1,000 in total across the two promotions.
However, the ISA offer will depend on how much your transfer in, and you’ll need to have sizeable ISA holdings.
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Premier account holders can claim the full amount by transferring an ISA balance of at least £100,000 to one Barclays’ fixed-term flexible cash ISAs using its transfer-in service.
The balance needed to meet eligibility can be a combination of ISA balances transferred over.
There’s a £200 reward for non Premier account holders who hold or open a current account and tranfer the same ISA balance, as well as smaller cash rewards for moving over smaller balances.
The deadline for both the Premier account switch and ISA promotions is April 30, with both begining on February 17.
You can find the full eligibility rules on the Barclays website.
