Barclays Premier Current Account Reviews: Benefits and Requirements
Did you know only 1% of UK adults get premium banking services? This group of high-net-worth individuals gets financial perks that go beyond regular UK current accounts. Let’s explore Barclays bank accounts and see what makes their Premier Current Account special in the world of premium banking.
Barclays is a key player in British banking, offering accounts for different financial needs. But their Premier Current Account really shines, catering to those who want more from their banking. You need a minimum annual income of £75,000 or £100,000 in savings to qualify. It’s not for everyone, but for those who do, it opens the door to exclusive benefits.
The Barclays Premier Current Account offers high daily ATM withdrawal limits of £2,000 and interest-free overdrafts up to £500. It’s made for affluent customers. But there’s more. Account holders get access to special savings rates, tailored mortgage products, and even a free AppleTV+ subscription.
Key Takeaways
- Eligibility requires £75,000 annual income or £100,000 in savings
- Daily ATM withdrawal limit up to £2,000
- Interest-free overdraft up to £500
- Exclusive access to Premier mortgages and savings rates
- Avios rewards program available for £12 monthly fee
- Free AppleTV+ subscription included
- One-on-one support from dedicated financial guides
Understanding the Barclays Premier Current Account
The Barclays Premier Current Account is special. It has perks and benefits not found in regular accounts. It’s for people with high incomes and lots of savings. It offers features that meet their financial needs.
Distinctive Features
Those with a Premier account can withdraw up to £2,000 a day from ATMs. That’s double what standard accounts allow. They also get interest-free overdrafts up to £500. This helps with short-term money needs.
The account comes with a sleek black debit card. This card shows it’s a premium account.
Exclusive Perks
Barclays Premier customers get special benefits:
- 24/7 dedicated customer service
- Preferential rates on savings accounts
- Exclusive mortgage deals with competitive APRs
- Wealth management and financial planning support
Target Customer Profile
The Premier Current Account is for people who:
- Earn a gross annual income of £75,000 or more
- Hold savings or investments of at least £100,000 with Barclays
- Seek comprehensive financial services and personalized support
| Feature | Premier Account | Standard Account |
|---|---|---|
| Daily ATM Limit | £2,000 | £1,000 |
| Interest-Free Overdraft | Up to £500 | Not available |
| Dedicated Support | 24/7 Premier Service | Standard Support |
The Barclays Premier Current Account offers a top-notch banking experience. It has advanced online banking and low fees. It’s perfect for those who want the best in banking services.
Eligibility Criteria for Barclays Premier Banking
Barclays Premier Banking is for high-income clients. It offers benefits that regular banking can’t match. Knowing the account eligibility criteria is key before you apply.
Income and Balance Requirements
To get a Barclays Premier current account, you must meet certain financial standards:
- Annual gross income of £75,000 or more paid into a Barclays current account
- Alternatively, £100,000 saved or invested with Barclays
Age and Residency Restrictions
Barclays Premier Banking has specific age and residency rules:
- Minimum age: 18 years old
- UK residency required
- Not available for full-time students
Application Process Overview
The application for Barclays Premier Banking is easy:
- Apply online or through the Barclays app
- Provide photo ID and proof of address
- Submit documents proving you meet Premier requirements
- Once approved, enjoy benefits like higher ATM withdrawal limits and better rates on mortgages and savings
Remember, Premier Banking offers great customer experiences. You get dedicated service lines and personal relationship managers. It’s a good choice for those who qualify.
Barclays Premier Current Account Reviews: Benefits and Requirements
The Barclays Premier Current Account is a top choice for those with a lot of money. It has strict rules but offers great benefits. Customers love it, with 64% giving it a 5-star rating.
To get this account, you must earn £75,000 a year or have £100,000 saved. This makes Barclays a strong competitor. For example, HSBC also wants £75,000 income but needs £1.5 million in assets. Natwest asks for £100,000 income.
The account’s perks include:
- Daily ATM withdrawals up to £2,000
- Exclusive “Black debit card”
- Access to premier savings rates
- Tailored mortgage deals
- Personalized financial planning support
Most reviews, 84%, are positive, with 4 or 5 stars. But, 8% of reviews are 1-star. Still, there’s been a big drop in 1-star reviews, showing more people are happy.
If you qualify, the Barclays Premier Current Account is a great choice. It offers special benefits and financial help. It’s a top pick for high-end banking.
Exclusive Financial Products and Services
Barclays Premier Current Account holders get special financial products and services. These are designed to make banking better for them. They offer solutions for saving, mortgages, and managing wealth.
Premier Savings Accounts
Barclays gives Premier customers high-yield savings options. These accounts have good interest rates, easy access, and higher deposit limits. For instance, they can get into the 18-Month Flexible Cash ISA and the 18-Month Flexible Bond, both with great rates.
Mortgage Offerings for Premier Customers
Premier account holders get special mortgage deals from Barclays. These deals include:
- Higher borrowing limits, up to 5.5 times single or joint salaries
- Increased annual overpayment allowance of 25%
- Potential discounts or waivers on arrangement fees
- Access to specialized products like the Family Springboard Mortgage
Wealth Management Support
Barclays offers top wealth management services to Premier customers. These include:
- Free telephone appointments with Barclays Financial Guides
- Personalized investment advice
- Retirement planning assistance
- Family finance consultations
Barclays wants to give a premium banking experience to its Premier customers. They offer high-yield savings, special mortgage options, and expert wealth management. Premier account holders can use these to improve their financial plans and reach their goals.
Overdraft Facilities and Interest Rates
The Barclays Premier Current Account offers flexible overdraft facilities. You can enjoy an interest-free overdraft up to £500. This helps with unexpected expenses without extra costs.
For overdrafts over £500, the interest rate is 35.0% per year. Here’s an example:
| Overdraft Limit | Interest-Free Amount | Interest Rate Above Limit | Representative APR |
|---|---|---|---|
| £1,200 | £500 | 35.00% EAR Variable | 29.9% Variable |
Getting an overdraft depends on your application and financial situation. The bank can ask for repayment anytime.
The Premier Current Account has better terms than standard accounts. It lets you withdraw up to £2,000 daily from ATMs. This is twice as much as standard accounts, great for big purchases or traveling.
While overdrafts can be useful, use them wisely. Always think about repaying and look for other options when you can.
The Barclays Avios Rewards Program
The Barclays Avios Rewards program lets Premier customers earn travel points and get special perks. For £12 a month, members get into a world of travel benefits and savings.
Earning and Redeeming Avios Points
Members earn 1,500 Avios points each month, adding up to 18,000 a year. New customers get a 25,000 Avios bonus for switching. By the end of your first year, you could have over 20,500 Avios. This is enough for a return economy flight to Nice.
Travel Perks and Upgrade Vouchers
The Barclays Avios Rewards program offers more than just points. Members get an annual British Airways cabin upgrade voucher. This can make your travel better. You can also use Avios for other travel costs, like a flight to Lisbon with 25,000 points.
Program Fees and Potential Savings
The £12 monthly fee might seem high, but the savings are worth it. You can earn up to 20,500 Avios in your first year and get cabin upgrades. To get these benefits, you must meet Barclays Premier Banking criteria and sign up for the Barclays app and paperless banking.
Source Links
- Barclays Premier Account Review – Money To The Masses
- Premier Banking | Barclays
- Barclays Current Account Reviews – Compare by Review
- Barclays Premier Account review: Everything you need to know
- Barclays Premier Account Review 2024
- Barclays Premier current account review
- Barclays Premier Current Account Reviews
- Is Premier Banking worth it?
- Smart Money People
- The best Premier bank accounts – Times Money Mentor
- Best premier & premium bank accounts UK 2024: Scored by experts
- Is it worth opening a Barclays Premier account for a mortgage? – Mortgage news – Mortgage Tools : Trinity Financial, Mortgage Brokers in London.
- Mortgage news – Mortgage Tools : Trinity Financial, Mortgage Brokers in London.
- Barclays Review – Should You Use It in 2024?
- Current Accounts with Overdraft Facility
- Barclays Avios Rewards | Premier Banking
- BA – The Club – Seven reasons to join Barclays Avios Rewards
