Rainy Day Saver account only for Blue Rewards, not Avios

[Fraser]

As far as I can tell, the Barclays Rainy Day Saver account is open to Premier customers, but only those using Blue rewards, not Avios.
Is this right?

If so, it’s worth factoring in the interest foregone (5% on up to £5000) versus another instant access account (say, 3%) – so effectively a £100 annual charge.

Is this right or have Barclays simply forgotten to mention it’s open to both?

[Rich_A]

Correct, it’s only open to Blue Rewards.

If you can find an instant access account offering 3% let me know!

But yes, that’s a good way of looking at it. You’re effectively paying to be in Avios Rewards in lost interest (and compulsory purchase of Avios). But you’re getting an upgrade voucher, which you hope will be worth more.

I have Avios Rewards on my main account. Was wondering if I could set up Blue Rewards on our joint account and get the best of both?

[RCHammer]

I have a joint account with my wife. I had been on blue rewards for a while but switched to Avios around March / April, I think. A couple of months ago I opened a rainy day blue awards saver and deposited £5k when we first saw the 5% offer. So it is possible to have both, at least in the order I did it

[hapshade]

You have to open the Rainy Day account while in Blue Rewards, but you can switch to Avios Rewards and keep the Rainy Day account open. Also, you can earn 3% on a Cash ISA with Virgin Money.

[RCHammer]

hapshade wrote:

You have to open the Rainy Day account while in Blue Rewards, but you can switch to Avios Rewards and keep the Rainy Day account open. Also, you can earn 3% on a Cash ISA with Virgin Money.

Except that I was registered for blue rewards, then switched to registered for Avios rewards and after that the rainy day saver was still available to me so my experience would indicate you only have to have been in blue rewards at some point in the past. Subtle difference, I know, but might help someone…

[MacSyms]

Sorry I messed up with the quote function – my reply is underneath

[MacSyms]

Rich_A wrote:

Correct, it’s only open to Blue Rewards.

If you can find an instant access account offering 3% let me know!

But yes, that’s a good way of looking at it. You’re effectively paying to be in Avios Rewards in lost interest (and compulsory purchase of Avios). But you’re getting an upgrade voucher, which you hope will be worth more.

I have Avios Rewards on my main account. Was wondering if I could set up Blue Rewards on our joint account and get the best of both?

The HSBC Online Bonus Saver offers 3% interest up to £10,000. Higher cash interest than Barclays’ Rainy Day Saver in absolute term if you already bank with HSBC and have more money available to save.

[Luca M]

I have had a blue rewards for years, since it first was launched, and have been Premier for almost as long. Swapped to Avios Rewards when it was launched just over a year ago.

I have just tried to open a Rainy Saver (as the option to apply was there) but the application stopped towards the end saying that it was only available to Blue Rewards customers.

[duggie1982]

Wish i seen this before i set up avios reward a few days ago, aw well then, never mind

[Gary]

RCHammer wrote:

hapshade wrote:

You have to open the Rainy Day account while in Blue Rewards, but you can switch to Avios Rewards and keep the Rainy Day account open. Also, you can earn 3% on a Cash ISA with Virgin Money.

Except that I was registered for blue rewards, then switched to registered for Avios rewards and after that the rainy day saver was still available to me so my experience would indicate you only have to have been in blue rewards at some point in the past. Subtle difference, I know, but might help someone…

@RCHammer that’s helpful to know. I switched off Avios Rewards so OH could switch on via our Premier joint account for 100K Avios. I am considering switching on Blue Rewards & deposit £5k in Rainy saver, then switch off Blue Rewards maybe after a few months. So I think you were suggesting this could possibly work meaning Rainy Saver continues to reward 5% interest (at least it inadvertently did for you)?

[RCHammer]

Yes, I was for some reason allowed to open a rainy day saver when deregistered from blue rewards and registered for Avios and it is paying the 5% interest. So you could, in theory, register, open an account and then deregister for blue and reregister for Avios and still get paid your interest but since my experience is an exception I can’t say for certain

[RCHammer]

Gary wrote:

RCHammer wrote:

hapshade wrote:

You have to open the Rainy Day account while in Blue Rewards, but you can switch to Avios Rewards and keep the Rainy Day account open. Also, you can earn 3% on a Cash ISA with Virgin Money.

Except that I was registered for blue rewards, then switched to registered for Avios rewards and after that the rainy day saver was still available to me so my experience would indicate you only have to have been in blue rewards at some point in the past. Subtle difference, I know, but might help someone…

@RCHammer that’s helpful to know. I switched off Avios Rewards so OH could switch on via our Premier joint account for 100K Avios. I am considering switching on Blue Rewards & deposit £5k in Rainy saver, then switch off Blue Rewards maybe after a few months. So I think you were suggesting this could possibly work meaning Rainy Saver continues to reward 5% interest (at least it inadvertently did for you)?

I am deregistered from blue rewards but I am still being paid 5% interest so, in theory, you could register, open an account and then switch back but I was, for some reason, allowed to open the rainy day saver account a few months after I had deregistered from blue rewards and registered for Avios so my experience seems to be an exception

[lambshank13]

Just got a letter saying my Rainy Day Saver will be converted to an Everyday Saver in two months’ time.

I opened it in September back when I had blue rewards. Left blue rewards in November to switch to Avios rewards and have been able to keep the Rainy Day Saver no problem, until now.

[davet]

I have a chip instant access account thats 3.5%

[BuildBackBetter]

Rich_A wrote:

If you can find an instant access account offering 3% let me know!

Chase.

[WillPS]

lambshank13 wrote:

Just got a letter saying my Rainy Day Saver will be converted to an Everyday Saver in two months’ time.

I opened it in September back when I had blue rewards. Left blue rewards in November to switch to Avios rewards and have been able to keep the Rainy Day Saver no problem, until now.

Same. I’m almost certain I was presented information to the contrary when I upgraded but I can’t find it in any emails or similar now.

Ho hum, plenty of time to sort something else, I was only using it for ‘excess’ anyway (prioritising Natwest Group Digital Regular Savers and Club Lloyds).

[hapshade]

You are technically meant to remain a member of Blue Rewards to maintain eligibility for the Rainy Day Saver. I’d managed to keep both open for 6 months or so but they’ve just written to me saying as I’m no longer a member of Blue Rewards my Rainy Day saver will be converted in June.

[johnwillis1986]

I was also gonna mention chip! Instant access saver at 3.55%. It increases automatically fairly frequently as well. Referral code of anyone is interested, CHIP-UAF470

[Alex G]

Rich_A wrote:

If you can find an instant access account offering 3% let me know!

When Rich asked this Q in November last year, Chase were paying 2.1%. A lot has changed since then.