Barclays Bank is a multinational bank with its origins in London, England, but they’ve been operating in the United States since 1925.
Recently, they’ve been known, at least online, as one of the more prominent online banks because they offer competitive rates on their online savings and certificates of deposit.
If you’ve been thinking about opening a new bank account with Barclays, there is a bonus offer available for you.
This is the first time I’ve seen Barclays offer a bank bonus and once it expires on 5/3/2024, I’m not sure if they’ll be refreshing it. If you have enough funds to deposit and have been thinking about this offer, I would not delay.
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💵 U.S. Bank – up to $700
Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
Barclays Savings Account: $200
Barclays $200 Savings Account Bonus Summary
- What you get: $200 bonus
- Who qualifies: Nationwide
- Where to open: Online
- How to get it:
- Open a Barclays Savings account,
- deposit $25,000 or more within 30 days and maintain at least $25,000 for the next 120 days
- Collect $200!
- When does it expire: 5/3/2024
Barclays is offering a $200 bonus for new customers. (sorry, existing savings and CD account holders are not eligible)
To get the bonus, you need to open a new Savings account, deposit $25,000 or more within 30 days and maintain at least $25,000 for the next 120 days. After you’ve maintained it for 120 days, the bonus will be deposited directly into your account in approximately 60 days.
This offer is appealing because you get the bonus on top of a competitive interest rate of 4.35% APY. Many other offers of this type are on accounts that don’t pay any interest.
It’s important to note that you must be a new customer. If you opened an account at Barclays in the past, you are considered existing and will not qualify.
There are no monthly maintenance fees and the bonus will be reported as bank interest. If you’d like to learn more about their other services, our Barclays Bank review has more.
Terms Apply.
To qualify for this $200 Bonus, you must be a new Barclays Savings customer, open an account March 4, 2024 – May 3, 2024, fund the account with at least $25,000 within the first 30 days of opening, and maintain the $25,000 balance for 120 consecutive days. After meeting these qualifications, the $200 bonus will be added to your account in approx. 60 days. Offer expires May 3, 2024. You may make multiple deposits from another financial institution to fund this account so long as at least $25,000 is deposited no later than 30 days from open date. Withdrawals which drop the balance below $25,000 could affect your bonus eligibility. The bonus will be treated as interest and Barclays could send you a Form 1099-INT for tax reporting. While there is no minimum deposit to open a Barclays Savings account, this bonus offer requires a $25,000 minimum deposit. Offer subject to change or cancellation without notice.
About Barclays
Barclays has been around for ages but the FDIC certificate was established in 2001. They are primarily an online bank but if you wanted to visit a location, you could go to Delaware but the address looks more like an office than a bank branch.
Barclays Bank’s ABA routing number is 031101321 and they do not accept wire transfers.
The savings account bonus is great but it’s worth noting that their certificates of deposits are quite competitive as well.
- 6 months: 5.00% APY
- 12 months: 5.00% APY
- 18 months: 4.50% APY
- 24 months: 4.00% APY
- 36 months: 3.50% APY
- 48 months: 3.50% APY
- 60 months: 3.75% APY
How Does This Compare?
It’s a pretty good offer that is made more appealing because it’s on an account that also offers 4.35% APY.
When you look at other bank bonuses that don’t require a direct deposit, they usually have tiers (so the top dollar amount can get quite high) but the amounts for $25,000 is similar. Sometimes they also require debit card use (which they earn income on, helping pay for the bonus), but there’s no similar requirement here.
Here are some other available offers:
Barclays – $200
Barclays Bank will give you a $200 if you open a new savings account and deposit $25,000 or more within 30 days and maintain at least $25,000 for the next 120 days. The savings account also pays a competitive interest rate of 4.35% APY while you wait.
BMO Relationship Checking – $400
BMO Bank is offering a $400 bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $200 Bonus Offer
Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $300
Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
HSBC Premier Checking – up to $4,000
HSBC has an offer where you can get up to $4,000 for eligible new customers who open an HSBC Premier checking account, make a sizable deposit, and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.
Like Barclays offer but very long commitment. Will probably do it .
Yeah, it is a bit long on the calendar but 120 days is about average for this style of offer. Wells Fargo requires 90 days but only starts counting after 30 days, so it’s similar.
Overall it is net positive. I keep most of my funds at a bank which has a very high interest rate (5.05% APY as of this date). With no requirements to do a direct deposit, it was a no brainer to shift some funds for a few months, especially since Barclays is offering a competitive interest rate!
Yeah the competitive interest rate does make this offer quite appealing. A lot of banks will offer a bonus but then not pay interest, which in this climate is a bad offer.
Yes. Thank you! So glad you reminded me of the Barclays offer. I have been able to enroll, after several glitches and phone calls. Customer Service was pleasant. One thing odd: Although the $25,000 can be withdrawn after 120 days, one must wait another 60 days to get the bonus! During the 60 days, some $$ (any amount) must be kept in the account to keep it open.
Good to know… fortunately no monthly maintenance fees! (also there’s a decent interest rate so it’s not like you’re getting totally hosed there)