Barclays is set to remove a significant perk from its offerings, prompting consumer champion Money Saving Expert, founded by financial guru Martin Lewis, to sound the alarm for Barclays’ customers.
Money Saving Expert (MSE) said the changes mean “most should ditch the scheme” from Wednesday, September 4.
The consumer website explained: “Many will have joined Blue Rewards in order to get the exclusive ‘Rainy Day Saver’ easy-access account that comes with it.
“That account pays 5.12 percent interest on up to £5,000. When it launched in 2022, it smashed the next-best rate of 2.5 percent and was popular with MoneySavers yet these days the top standard easy-access savings pay 4.85 percent, and you can get up to five percent on smaller amounts.”
MSE pointed out that a new overhaul of the loyalty scheme no longer makes it the most advantageous option, stating: “These perks are unlikely to be worth paying £60 a year for”.
MSE added: “If you really like Apple TV+ and can’t get it cheaper, or you’d normally pay full price for Major League Soccer streaming, the revamped Blue Rewards is still a good deal, as you’ll effectively be getting both at a major discount (with the other perks as a bonus).”
Barclays has explained that the alterations are being made to “reflect what its customers value”.
Competing against banks such as Santander, HSBC UK, NatWest, and Lloyds Bank, Barclays’ inclusion of Apple TV in its package coincides with the buzz surrounding the series Slow Horses, reports Birmingham Live.
Other gripping TV series available on the streaming platform include Presumed Innocent and Lady in the Lake.
The streamer also boasts an array of award-winning films, such as Coda, which won an Academy Award in 2022.