Barclays current accounts for July 2020

With Barclays, you can choose among a wide range of current accounts while enjoying the benefits that come with a major bank.

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Barclays
We say
★★★★★
Finder expert rating
You say
★★★★★
Customer satisfaction
Big bank benefits like branches and other products
Not as smooth a digital experience as many competitors
No matter which point of your life you are at, Barclays probably has a current account option that can fit nicely into your lifestyle.

If you’re a loyal customer and also have other financial products with Barclays, you can get extra rewards – so it’s a fitting choice if you like to manage all your finances with the same institution.

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Types of current accounts from Barclays

In order to be able to compare current accounts properly, first, you’ll have to clear your mind on which kind of account you’re after. Barclays offers the following:

  • Reward and incentive accounts

    Barclays’ standard reward account comes with cashback at selected retailers and no monthly fee. If you pay £3 a month instead, you can also be rewarded for other products you have with Barclays and for your direct debits.
    Learn more about reward and incentive accounts

  • Premium accounts

    Premium accounts have strict income criteria, so not everyone can get one, but they come with great perks and rewards. With Barclays you can enjoy a dedicated rewards programme and exclusive financial products (mortgages, loans and savings accounts) in return for no monthly fee. If you meet the requirements, it’s really worth looking around and comparing premium accounts to get the perks that work best for you.
    Learn more about premium current accounts

  • Student accounts

    Barclays makes your on-a-budget student life easier with a fee-free overdraft of up to £3,000, and also offers cashback when you shop at selected retailers.
    Learn more about student accounts

  • Graduate accounts

    Barclays’ graduate account is similar to its student account, allowing you to hang on to the benefits a bit longer while you’re getting used to your adult life.
    Learn more about graduate accounts

  • Children’s accounts

    Barclays is one of the few financial institutions that offer two different children’s accounts – one for 11 to 15 year-olds and another one for 16 to 19 year-olds.
    Learn more about children’s accounts

The benefits of banking with Barclays

  • Cashback. You can get cashback at selected retailers with various Barclays accounts – you can choose among 150 retailers, so there should be something in it for all tastes.
  • Multiple ways to bank. You can pop into a branch, or sort out your banking on the phone, online or using the mobile app.
  • Mobile banking app. For a traditional bank, Barclays has a pretty decent banking app – nothing too fancy, but it does allow you to tag and categorise your spending and also see balances and transactions in accounts you have with other banks.
  • Global acceptance. Barclays’ debit cards are on the Visa network, so card acceptance won’t really be an issue – you can use them to make purchases pretty much anywhere in the world.
  • Round the clock assistance. If you’re dealing with an emergency, for example because your card has been stolen while travelling, you can call Barclays 24/7 and someone will be able to assist you.
  • A wide range of related products. One of the advantages of banking with a major institution like Barclays is that you can have all your money in one place, from your everyday current account to your mortgage.

Opening an account with Barclays

To open an account with Barclays, you’ll have to provide the following information:

  • How much you expect to pay in each month
  • Your employment status and employer’s address
  • Your salary details and any assets you have
  • Your nationality/citizenship
  • Your residency status/tax residence status
  • Proof of identity (passport, driver’s licence, EEA or Swiss national identity card)
  • Proof of address (utility bill, bank statement, tenancy agreement)

You can open a Barclays account online or by visiting a branch.

Why should I compare current accounts anyway?

A current account may look like a pretty basic financial product, but it’s also one of the very few ones you’ll be using almost every day – to receive your salary, for your grocery shopping, to pay the rent. Depending on your lifestyle, you’ll have different banking needs, so it’s worth spending some time looking for an account that’s right for you.

Sometimes it’s as simple as finding the best switching incentive available. These days banks are investing quite a bit of cash to attract new customers and you can easily get the equivalent of a night’s stay in a nice hotel just by switching your main current account.

What about digital banking?

Monzo, Starling and Revolut, together with a series of smaller companies, have been revolutionising the British current account market in the last few years by offering hassle-free digital accounts you can sign up to in minutes and smart mobile banking apps.

If that sounds more appealing to you than a traditional bank, here are some of the deals currently available.

Data indicated here is updated regularly
Name Product Ratings Interest (AER) Arranged overdraft Key benefits Link Representative example
Santander
We say
★★★★★
You say
★★★★★
0%
39.94% EAR variable
Interest and fee free overdraft
for first four months
Current account switch service guarantee badge
Up to 15% cashback at a range of major retailers
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.94% EAR variable.
Starling Bank
We say
★★★★★
You say
★★★★★
0.05%
15% EAR variable
Seamless easy switching within 7 days
Current account switch service guarantee badge
No fees for spending or withdrawing cash overseas - currencies are converted at Mastercard’s standard exchange rate
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 15% EAR variable.
Cashplus
We say
★★★★★
0%
N/A
Guaranteed acceptance plus a credit building feature
Account fee of £5.95 per month.
ThinkMoney
We say
★★★★★
0%
N/A
Guaranteed acceptance
Current account switch service guarantee badge
Earn cashback on your purchases when you shop through the ThinkMoney rewards portal
Account fee of £10 per month or £15 per month.
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