Barclays wants to give new customers free £200 by Thursday - what you need to know

Barclays has offered a free £200 to new customers – but newbies will have to act fast, as the offer expires tomorrow. Those newly applying for a Barclays Bank Account can benefit from the offer by following four simple steps.

The high street bank explained how new customers can bag the deal. The process involves making a full switch, including at least two Direct Debits. New customers must also pay at least £2,000 into their new account. Commenting on the deal, Kate Steere, personal finance expert at the comparison site Finder, said: “Barclays is ending its £200 switching offer this Thursday, so consumers have just a few days left to take advantage. This is a strong option if you want a generous cash bonus and a recognisable name with a high street presence."

How to apply for the Barclays bank switch deal

Step one involves opening and applying for a new Barclays Bank Account through the Barclays app. Customers must be 18 or over and a UK resident to do this.

To complete the switch, customers can continue in the app by selecting ‘Switch to Barclays’. Customers can then follow the instructions to complete a full switch. You’ll also need your old debit card.

All incoming and outgoing payments will then be moved across to the new Barclays account within seven working days. This includes salary, benefits, Direct Debits, standing orders and bills.

Any money in the old account will also be transferred over as it closes, and any payments made to your old account will be redirected to your new one for at least three years.

New customers must also pay at least £2,000 into their new account within 30 days of opening it to qualify. This can be done either through bank transfer when making the switch or in instalments.

Customers who already have a Barclaycard, mortgage or savings account can benefit from the offer too.

To do this, existing customers should delete the bank’s app, reinstall it and then register as a new customer to apply for a Barclays Bank Account.

The bank advises waiting up to 48 hours for the new account to appear in the app. If customers have any difficulty with this, the bank suggests contacting them to help merge profiles.

Who will not qualify?

People who will not qualify for the offer include those who have already opened a Barclays Current Account on or before March 10, 2026, those who are only eligible for a Barclays Basic Bank Account, and those who have received a switching offer reward for switching to any Barclays Current Account in the past.

Joint accounts are also not accepted under this offer, and customers cannot switch from an account that is already with Barclays.

If you meet the eligibility criteria, the £200 should be paid into your new account within 45 working days. A text message will be sent to confirm this.

The bank also said: “If you have any issues switching on the final day of the campaign, you’ll still be eligible if you start the switch the next working day (and you meet all the other criteria)”.