Bank account change for thousands of Barclays customers from today that could leave you worse off
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A MAJOR account change at Barclays could leave thousands of customers worse off from today. The bank which caters to over 20million UK customers is slashing interest rates on several popular saving accounts. Barclays has cut interest rates on two of its easy access savings accounts, the Rewards Saver and Blue Rewards Saver.
![[If you currently have money saved in any of these accounts, you might want to consider moving your cash to get a better deal]](https://www.thesun.co.uk/wp-content/uploads/2025/01/000018351831_XXXLargejpg-JS863311518.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 Rewards Saver now offers a 2.51% interest rate if no withdrawals are made during the month, down from 2.75%. So, if you have £5,000 saved, you would have earned about £137.50 in interest per year before the change, and now you'll earn around £125.50, roughly £12 less.
If a withdrawal is made, the rate temporarily drops to 0.76%, a reduction from 0.85%. On £5,000, this means you’ll earn around £38 a year in interest, about £4.50 less than before. The Blue Rewards Saver, which offers slightly higher rates and is only available to Barclays Blue Rewards or Premier Banking customers has also had its rates cut.
If you don't withdraw any money during the month, the rate has fallen from 3.40% to 3.17%. For someone with £5,000 in savings, this means a drop in annual interest from roughly £170 to about £158.50 – a difference of around £11.50 a year. If you do withdraw money during the month, the interest rate has been lowered from 1.01% to 0.76%.
