Bank account change for thousands of Barclays customers coming in WEEKS and you could be worse off
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BARCLAYS is making a big change to two of its bank accounts that could leave customers worse off. The bank which caters to over 20million UK customers is slashing interest rates on several popular saving accounts. Barclays is set to cut interest rates on two of its easy-access savings accounts - the Everyday Saver and the Rainy Day Saver.
![[Person using a Barclays ATM.]](https://www.thesun.co.uk/wp-content/uploads/2025/01/2024-customer-uses-atm-barclays-952106235.jpg?strip=all&w=960)
These accounts let you deposit and withdraw money freely, but the interest rate depends on whether you make withdrawals during the month. The account changes will kick in from February 13. The interest rate for the Everyday Saver is dropping from 1.51% to 1.26% on balances up to £10,000.
So, if you’ve got £5,000 in there, you’ll earn about £12.50 less in interest per year, making it around £63 instead of £75.50. But, if you’ve got more than £10,000, the rate is actually going up from 1.16% to 1.26%. The Rainy Day Saver, which is for Barclays Blue Rewards members and Premier Banking customers, is also seeing a rate cut.
For balances up to £5,000, the rate is going down from 5.12% to 4.87%. If you’ve got £5,000 saved, you’ll get about £12.50 less in interest each year, earning roughly £243.50 instead of £256. For balances over £5,000, the rate stays the same at 1.16%.
If you currently have money saved in any of these accounts, you might want to consider moving your money to a different account with a better interest rate. High street banks often offer lower interest rates compared to newer online banks. These challenger banks often have lower operating costs, allowing them to offer more competitive interest rates to attract customers.
