Barclays launches free £1,000 cash bonus under account switch deal - but are you eligible?

Those meeting the criteria for a Premier Current Account can secure £400 by transferring their banking to Barclays.

Additionally, savers willing to move their ISA holdings to the bank stand to gain as much as £600 through a separate cash ISA transfer promotion.

The combined value of these incentives represents a significant opportunity for customers prepared to consolidate their finances with the high street lender before the April 30 deadline.

To qualify for the £400 switching bonus, newcomers must open a Premier Current Account via the Barclays app and complete a full transfer using the Current Account Switching Service.

Premier status requires either an annual gross income of at least £75,000 or minimum savings of £100,000 in eligible Barclays investments, though a combination of both is also acceptable.

Applicants must not have held a Barclays current account as of February 17 2026.

The switch must include a minimum of two active direct debits, with at least £4,000 deposited within 30 days of account opening.

Premier customers automatically receive Blue Rewards benefits at no extra cost, including complimentary Apple TV+, spending cashback, and improved savings rates.

The ISA transfer incentive offers rewards of up to £600 for customers who shift a minimum of £10,000 from external ISA providers into one of Barclays' fixed-term cash ISA products.

Participants must already hold or establish a Barclays current account before initiating the transfer through the bank's ISA transfer-in service.

The bank's current fixed-term offerings feature competitive rates, with the Premier one-yearFlexible Cash ISA paying 3.85 per cent AER tax-free and the standard one -year Flexible Cash ISA returning 3.80 per cent AER tax-free.

Both products permit up to three penalty-free withdrawals during the term, each capped at 10 per cent of the account balance. Customers seeking to maximise their returns can take advantage of both promotions simultaneously.

By opening a Premier Current Account and subsequently transferring £100,000 in ISA savings to a qualifying Barclays cash ISA, eligible individuals would pocket the full £1,000 combined reward.

This dual approach allows switchers to benefit from both the £400 current account bonus and the maximum £600 ISA transfer incentive in a single move.