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Blue Rewards Terms and Conditions

Additional conditions for Barclays Blue Rewards

These are additional conditions. That means that they add to the main agreement between you and Barclays Bank UK Plc set out in the Customer Agreement. If there’s anywhere they don’t agree with the Customer Agreement, these additional conditions are the ones we’ll follow.

Joining and eligibility

To be eligible for Barclays Blue Rewards you will need to:

  • nominate a suitable current account with us. The accounts you can't join with are: Barclays Basic, Young Person's, BarclayPlus, Foreign Currency Accounts, non-personal Wealth and Barclays Business Accounts. If you have a joint account, only one holder can use that account to join. Other account holders can use a separate, suitable account to join if they have one.
  • have access to Online Banking or the Barclays app. This is how you view and access your Blue Rewards Wallet, update your details, cancel Barclays Blue Rewards or redeem your wallet balance and get a payout of your rewards.
  • be resident in the UK.

In addition to the above, you will need to:

  • pay in at least £800 to your nominated current account each month. Please see below for more information on what will count towards your £800 payment.
  • pay the £4 monthly fee. We’ll take this from your nominated current account on the second working day of the month. On your statement, this will show as the ‘Blue Rewards fee’. The first monthly fee will be taken in the month after you join Barclays Blue Rewards on the second working day of the month.

When working out how much you have paid into your nominated bank account, we won’t count:

  • one off internal transfers between Barclays accounts in your name, including any joint accounts or savings accounts. Regular payments set up as standing orders or direct debits from your personal Barclays accounts, a Barclays Business Account or your non-Barclays accounts will count towards your qualifying amount
  • Any interest that we pay you
  • Any refunds you receive from us

Barclays Blue Rewards and Barclays Avios Rewards

You can’t have both Barclays Blue Rewards and Barclays Avios Rewards.

If you apply for Barclays Blue Rewards whilst signed up to Barclays Avios Rewards, you’ll need to choose to stop collecting Avios with Barclays Avios Rewards and close it first before you’re able to open Barclays Blue Rewards. Any remaining Avios will still be available to you through your British Airways Executive Club account, but you’ll stop collecting Avios through Barclays Avios Rewards.

For joint account holders where one account holder has nominated the account for Barclays Blue Rewards, the other account holder can still stay with Barclays Avios Rewards using that same account.

If you apply for Barclays Avios Rewards whilst signed up to Barclays Blue Rewards, we’ll ask you to close your Barclays Blue Rewards before you open Barclays Avios Rewards. We’ll transfer any remaining rewards in your Blue Rewards Wallet to the account you nominated for Barclays Blue Rewards before it is closed.

If there’s not enough money in your nominated current account to pay the fee

If there’s not enough money in your nominated current account to pay the Barclays Blue Rewards fee, we’ll still charge you - even if it makes your account go overdrawn.

When you can close Barclays Blue Rewards

You can cancel your Barclays Blue Rewards at any time either through Online Banking or with the Barclays app. If you do this before 5pm on the last day of the month, we won’t charge the next monthly fee. If you cancel within the first 14 days of receiving these Additional Conditions and you have already paid a monthly fee, we’ll refund the fee, unless you have already received any rewards in to your Blue Rewards Wallet.

If you cancel Barclays Blue Rewards

  • We'll transfer your available rewards balance back to you. We may transfer this to your nominated current account, a different instant access current or savings account, or we will send a cheque.
  • You will no longer be eligible for any pending rewards that have not yet been shown in your Blue Rewards Wallet
  • We will no longer charge you the Barclays Blue Rewards monthly fee in future months, however you will continue to pay the monthly fee until your Blue Rewards Wallet is closed.

When we can close Barclays Blue Rewards

We may cancel your Barclays Blue Rewards if:

  • you haven't met the eligibility criteria
  • you are earning less in rewards than the monthly fee that you pay.

If we do this, we’ll contact you to give you two months’ notice before cancelling (please see the ‘Keeping you informed’ section below for detail on how we will contact you) but we will not cancel if you start meeting the conditions and earning more than the fee again before then. We’ll continue to collect the £4 monthly fee until your Blue Rewards Wallet is closed.

We may cancel Barclays Blue Rewards immediately if you close your nominated current account.

If we or you close your Barclays Blue Rewards

If we or you cancel your Barclays Blue Rewards:

  • We'll close your Blue Rewards Wallet and you'll stop earning rewards
  • We'll transfer your available rewards balance back to you. We may transfer this to your nominated current account, a different instant access current or savings account, or we will send a cheque
  • You will no longer be eligible for any pending rewards that have not yet been shown in your Blue Rewards Wallet
  • We will no longer charge you the Barclays Blue Rewards monthly fee in future months, however you will continue to pay the monthly fee until your Blue Rewards Wallet is closed.

Your Blue Rewards Wallet

You are not allowed to put money into your Blue Rewards Wallet directly, and you won’t get a cheque book or any card with your Blue Rewards Wallet. If any payments are made into your Blue Rewards Wallet that are not associated with a product reward payment, we may transfer this to your nominated current account, a different instant access current or savings account, or we will send a cheque.

When and how you’ll receive your rewards

We’ll add the rewards you have earned into your Blue Rewards Wallet on the second working day of each month. Payments will start on the second working day of the calendar month that follows:

  • Joining Barclays Blue Rewards if you have an existing mortgage or existing loan
  • Completion of your new mortgage
  • Opening of your new loan
  • The starting date of your insurance policy

As long as you have Barclays Blue Rewards and are eligible for that specific reward:

  • Your Mortgage and Home Insurance rewards will be paid every month that you hold the product
  • Your Barclayloan reward will be paid every month that you hold the product, unless we stop paying your Barclayloan reward because you don’t make payments when they’re due or you breach the terms of your Barclayloan Agreement, or your loan is terminated
  • Your Life Insurance reward will be paid every month for as long as you hold the policy, up to a maximum of 12 months
  • If you, or your estate, makes a successful life insurance or critical illness claim (except child critical illness), your policy will cease and any current Life Insurance Reward will also cease.

When you renew your home insurance policy, top up your loan, switch rates, borrow more, move house or remortgage from another lender, please check to see what rewards you’ll be eligible for.

We might revise rewards in the future to make sure that they remain competitive and reflect changes to our costs. We might also add or remove any rewards. We’ll give you two months’ notice before making any change and if you don’t agree with the changes, you can cancel your Barclays Blue Rewards, without charge, in Online Banking or the Barclays app.

Keeping you informed

We’ll always keep you informed about the rewards you’re getting and how they may change over time. We won’t send paper communications or letters about your Barclays Blue Rewards, as all communication about Barclays Blue Rewards is online. We’ll send information about your Barclays Blue Rewards to you by text, email, Cloud It and other digital methods using the details you’ve given us. If you want to talk to us about Barclays Blue Rewards you can contact us in any of the usual ways.

Tax treatment of Barclays Blue Rewards

Barclays cannot provide tax advice regarding the personal income of customers and any taxes are your responsibility to pay.

For Barclays Blue Rewards, the £7 Loyalty Reward received up to and including November 2016 for being part of Barclays Blue Rewards is subject to UK income tax and may need to be declared to HM Revenue & Customs.

With the exception of interest earned on a Blue Rewards Saver account, all other current rewards earned through Blue Rewards, and any Loyalty Reward received from December 2016, are not subject to UK income tax.

Interest earned on a Blue Rewards Saver account will count towards your Personal Savings Allowance.

Rewards

You can collect rewards when you take out any of the products below, subject to reward eligibility criteria.

Loyalty Reward

Receive a £3.50 reward for each of your first two Direct Debit payments, up to £7 each month. You’re eligible for this reward if the Direct Debits are successfully paid from your nominated current account.

Mortgage Reward

You can get our £5 monthly Mortgage Reward if you have or take out a residential personal mortgage with us. You’re only eligible for this reward on one mortgage at any time. The following mortgages are excluded from Barclays Blue Rewards: buy-to-let mortgages, mortgages denominated in a foreign currency, staff mortgages taken out before 2003, Shared Appreciations Mortgages and Protected Appreciation Mortgages.

Collecting Barclays Blue Rewards doesn’t change anything about the way your Barclays mortgage works.

Barclayloan Reward

Get £1 each month on a Barclayloan Reward if you have or take out a Barclayloan with us. The following loans don’t qualify: Resolve, any loan products provided by Wealth Management (such as Portfolio Finance), Staff Season Ticket, Staff Career Development and all Staff Loans taken out before September 2013.

You’re only eligible for the Barclayloan Reward for one Barclayloan at any one time.

We might stop paying your Barclayloan Reward if you don’t make payments when they’re due or you breach the terms of your Barclayloan Agreement, or your loan is terminated.

Collecting Barclays Blue Rewards doesn’t change anything about the way your Barclayloan works.

Home Insurance Reward

You'll get our Home Insurance Reward when you take out or renew any Barclays Home Insurance policy or our Premium Home Insurance that’s provided by Hiscox. You’ll earn 3% cashback on your total annual premium, which will be divided by 12 and paid monthly into your Blue Rewards Wallet.

You need to join Barclays Blue Rewards first, or do so within 30 days of your policy start date, to be eligible for this reward. If you've had your policy for longer than 30 days, you won't be eligible until you renew.

Your rights under your insurance policy won't be affected by receiving the Home Insurance Reward.

You’re only eligible for the Home Insurance Reward on one policy at any one time. If you hold more than one policy, your reward will be paid against the policy with the highest premium. Any changes you make to your policy that impact your premium before your renewal will be reflected in your Home Insurance Reward within 30 days of the change. If you leave Barclays Blue Rewards and re-join later, you'll need to renew or take out new home insurance products from us to qualify for the Home Insurance Loyalty Reward

This reward is not available for Wealth Management clients.

If you join Barclays Blue Rewards from Barclays Avios Rewards, you won’t be able to collect rewards on any home insurance policies you already have with us before you join, until your next renewal.  If you join Barclays Avios Rewards from Barclays Blue Rewards you will earn Avios rewards for the remainder of the 12 month period from the start date of your policy.

Life Insurance Reward

You can get our Life Insurance Reward when you take out life insurance or life insurance with critical illness. You can earn £1.50 a month when you take out just life insurance and £5 a month if you opt for life insurance with critical illness cover.

If you have a Life Insurance product introduced by Barclays Wealth Management you won’t be eligible for this reward.

You need to join Barclays Blue Rewards first, or do so within 30 days of your policy start date, to be eligible for this reward. If you’ve had your life insurance policy for longer than 30 days, you won’t be eligible for the reward.

Your rights under your insurance policy won’t be affected by being a Barclays Blue Rewards customer.

You’re eligible for the Life Insurance Reward on one policy only and for a maximum of 12 months. You can only have one life insurance reward term. After 12 months, you will no longer be eligible for a Life Insurance Reward, even if you buy an additional life insurance policy at a later stage.

The reward will only apply to life insurance policies bought from 15th November 2018. If you leave Barclays Blue Rewards and re-join later, you will not qualify for the Life Insurance Reward, if you already have or had life insurance.

If you join Barclays Blue Rewards from Barclays Avios Rewards, you won’t be able to collect rewards on any life insurance policies you already have with us. If you join Barclays Avios Rewards from Barclays Blue Rewards you will earn Avios for the remainder of the 12 month period from the start date of your policy.

Joint accounts and policies

Where Direct Debits are paid from a joint nominated account:

  • Any Direct Debits paid from a joint nominated account will be eligible for the Loyalty Reward. The customer who has nominated that account for Barclays Blue Rewards will get all of the reward.

Where a mortgage, loan or insurance policy is in joint names:

  • For a mortgage or loan, if you’re both members or both become members of Barclays Blue Rewards, the reward will be split equally between you. For insurance policies, if you’re both members of Barclays Blue Rewards at the point of application, the reward will be split equally between you. If there are more than two of you, it will be split between the two people who have held their current account with us for the longest period of time.
  • If one of you leaves Barclays Blue Rewards, then all of the reward will be paid to the remaining policy or product holder from that point onwards
  • If only one of you is a member of Barclays Blue Rewards, that person will get all of the reward

Protection under the Financial Services Compensation Scheme

Barclays Bank UK PLC is covered by the Financial Services Compensation Scheme (FSCS), the UK’s statutory deposit guarantee scheme. The FSCS pays compensation to eligible depositors if a bank is unable to meet its financial obligations. Most depositors are covered by the scheme. You can find more information in the FSCS information sheet in the Tariff and on our website.