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The criteria for whether you qualify for the Barclays Premier Account references earning above £75,000 or having savings of more than £100,000, OR A MIX OF BOTH. Does the “mix of both” route mean for example that you could earn £60,000 and save £15,000 and qualify?
Or £1 earnings and £74,999 savings? Needs a little more thought methinks… 🤔
While I have no idea what Barclays may choose to apply, simple logic would suggest it should be pro-rata, e.g. if you have 80% of the income requirement then you would need 20% of the savings requirement. If they don’t break it down themselves then I think that is certainly a valid argument for reasonable interpretation if they come asking you to justify a claim to qualify.
@Keith – I’ve had a premier account for some years now, and it just balances its self out between savings and income, they do contact you to discuss if there is a problem with either, they won’t just cut you off, just be aware that their saving rates are not the best, there are better cash ISA’s, with Trading 212 for example, who I have switched to, and rely solely on my income to retain the premier benefits, just a note, the £75k figure is gross.
I retired 8 months ago but they haven’t kicked me out yet despite dropping below the threshold
It’s a lot easier to stay ‘in’ once you’re there than it is to qualify in the first place, but after 8 months they won’t know you are below the threshold. Although it can be interpreted in several ways, ultimately it’s an annual limit not a monthly one.
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