Reply To: Premier Banking qualification checks back on

[JDB]

JohnTh wrote:

It seems Barclays have started checking the income or savings qualifications on Premier renewal now – just been advised we will be downgraded in March. Good while it lasted but not putting that amount of savings with them.

I don’t think those checks ever went away (although they have a discretionary element) but they did suspend the £20/month charge which was supposed to apply as a dissuasive fee if you didn’t meet the criteria but nevertheless wished to retain the account.

To be fair to Barclays, there’s little point in having a supposedly Premier product with specific income requirements if they don’t enforce it. This will also enable them to improve the product which now lags behind the ‘premier’ offerings of its major competitors.