Premier Banking

Our eligibility requirements

We're making some changes to Premier Banking.

From 1 September 2022 we're introducing a monthly fee of £20 for Premier, but we’ll waive this for you as long as you meet our eligibility requirements. This means that, although the fee will apply to the terms of your account, Premier will continue to be free for you if you meet the Premier Banking eligibility requirements.

Can I get Premier for free?

You’ll need to have a current account with us and either

  • Pay a gross annual income of £75,000 or more into your Barclays current account every year, or
  • Have a minimum of £100,000 in savings with us and/or in personal Barclays UK investments

We appreciate that the income paid into your account can differ quite significantly to your gross income, so we’ll do the following.

  • On the first of each month we’ll look back at the previous month to see if at least £3,330 has been paid into your current account or if you had a combined average balance of at least £100,000 in all savings and investment accounts you have with us.
  • If not, we’ll look back at your accounts with us over the last 12 months to see if at least £40,000 has been paid into your current account.

If you meet either requirement, you'll be able to enjoy the benefits of Premier without paying the monthly fee. If not, we’ll contact you to explain your options.

Here are some customer examples

Priya

Priya is self-employed and on average has a gross annual income of £85,000 a year.

What she pays into her current account varies – some months its £5,000, while others it’s closer to £3,000.

Although Priya doesn’t meet the requirements for Premier every month, the amount she’s paid in over the last 12 months on a rolling basis is over £40,000, so we’ll waive the monthly fee.

Tom

Tom earns a gross annual income of £45,000 that’s paid into his current account with us. He also has £200,000 that he’s invested through a Barclays Smart Investor account.

We’ll waive the monthly fee for Tom as long as he keeps an investment balance of over £100,000 each month.

Ben

Ben has a gross annual salary of £60,000. He pays a significant proportion of his income into a pension every month and purchases childcare vouchers and shares through his employer’s rewards programme.

As a result, his take home salary is £38,000 a year and £3,170 a month is paid into his Premier current account. He has no savings or investments with us.

Ben doesn't meet the eligibility requirements for Premier, but he can choose to stay by paying the £20 monthly fee.

Laura

Laura has a current account with us but doesn't have a regular monthly income paid into this as she also banks elsewhere.

She has £70,000 in her Everyday Saver account. This doesn’t meet the Premier eligibility requirements of £100,000, so she transfers money from her other provider to bring the balance up to £100,000.

That means that we'll waive the monthly fee for Laura.

What happens if I don't meet the eligibility requirements?

We’ll be in touch in the next few months to let you know whether you qualify for Premier – and to explain your options if you don’t qualify.

You could qualify for Premier benefits by paying the monthly fee or choosing to meet our requirements. Otherwise, after giving you notice, we’ll move you to our Barclays Bank Account, which has no monthly fee.

Which account is right for me?

Premier Current Account

Flexible, rewarding banking

Barclays Bank Account

More than an everyday bank account