Compare the latest current account deals.
Switching current account to Barclays
Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm.
Barclays current account review
Barclays have a number of different current accounts aimed at different types of customers, designed to help you manage your everyday banking whatever your needs.
Barclays most popular current accounts include:
Barclays Bank Account – The standard Barclays current account, which can be opened online in minutes and allows you an overdraft of up to £5,000. You can also add a number of customisations and join Barclays Blue Rewards to help you earn rewards and save money.
Premier Current Account – If you pay in in excess of £75,000 annually or save or invest over £100,000 with Barclays, you can qualify for their Premier Current Account. This gains you access to their Premier Relationship Team plus Premier rewards and benefits.
Student and Graduate accounts – Current accounts that are offered to students, including those in Higher Education and recent graduates. Benefits include an overdraft of up to £3,000 and no monthly account fee.
Children and Teen accounts – Barclays offers accounts for 11-15 years olds and 16-19 year olds. Open an account from as little as £1 to earn interest, get a cash or debit card and pay no a monthly account fee.
What to look for when switching current accounts
To ensure you get a current account that is well matched to your everyday banking needs, make sure to consider how important each of the following factors is to you:
Interest rates – You will generally be offered different interest rates on your savings and overdraft (if you need one) so which of these is most important to you will tend to rely on how you normally use your account. If you are more of a saver, the rate you earn on your credit will be more important; whereas if you are more of a spender, your overdraft rate will be more significant.
Switching incentives – Several of the top current accounts across the market offer switching incentives to help entice you into transferring your banking to them. These often include cash upfront as well as introductory interest rates and other bonuses.
Some current accounts offer upwards of £100 in cash and benefits to make the switch.
Cashback – A number of accounts offer cashback paid monthly as an ongoing incentive to keep your banking with them. TSB Classic Plus Account lets you earn up to £120 cashback a year, if you have active monthly Direct Debits and use your debit card regularly. Others, such as the Santander 1|2|3 Current Account offer cashback on your household bills, which can soon add up to significant amounts.
Additional benefits – Many current accounts offer extra benefits, either as standard or as optional add-ons, which can help make them even better value. This commonly includes free insurance for travel, mobile phones and more, while other freebies such as free internet security software are not uncommon.
Compare current accounts
When choosing a new current account, make sure to spend some time researching the various options and what they offer before making a final decision. The more research you can do, the more chance there is of you ending up with an account that fits your needs long term.
Take a look at the range of current accounts presently on offer from all the leading providers across the market right now to see which offers the best deal for you.