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Barclays launches £500 cashback offer for ISAs – but there’s a catch. Here’s how it works
Barclays is looking to attract savers to its cash ISA range but you need a lot of money to get the full reward
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(Image credit: Getty Images/Richard Drury)
Marc Shoffman
18 September 2025
Cash ISA savers can get up to £500 cashback as part of a new switching incentive from Barclays, but there is a catch.
The bank appears to have kicked off ISA season early by aiming to tempt savers with an attractive cashback deal.
You could get up to £500 cashback by transferring your cash ISA to Barclays.
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But there is a big caveat. You will only get the full £500 if you transfer £100,000 or more.
Here is how Barclays’ ISA transfer cashback offer works.
What is Barclays ISA transfer cashback offer?
Savers could get up to £500 cashback by transferring their cash ISA to Barclays.
There are a few requirements though.
You will need to have a Barclays current account for the money to be sent to and be over 18. Accounts must be opened by 28 November to be eligible for the reward.
The transfer can be made into a new or existing Barclays cash ISA either through the ISA transfer service in the Barclays app or via online banking.
The money can also come from multiple accounts but Lifetime ISAs, Help to Buy ISAs and other Barclays ISAs are excluded.
Once the transfer is complete, the cash will be sent to the current account within 60 business days after 28 November 2025.
However, while £500 looks like an attractive sum, and is higher than any cashback deal for current account switching, the amount you’ll get actually depends on the ISA balance you transfer in.
How much cashback can you get when transferring a cash ISA to Barclays?
The more you transfer, the more cashback you will earn. There is a £100 reward for those transferring between £25,000 and £49,999.99.
This rises to £200 for those moving £50,000 to £99.999.99.
You will only get the full £500 if you transfer £100,000 or more.
What cash ISA rates does Barclays offer?
Barclays has a range of easy access and fixed rate ISAs.
Its best rate is a 4% one-year fixed rate cash ISA but it is only available for premier and wealth management clients.
This is only available to those with a gross annual income of at least £75,000 and at least £100,000 of savings or investments with the bank.
Alternatively, Barclays has a one-year fixed rate cash ISA at 3.7% for all customers.
It is important to shop around and not just chase the cashback though.
Savers could earn more interest on a cash ISA with other providers.
Trading 212 offers 4.38% on its cash ISA, while Plum has a product at 4.37%.
Cashback rewards are also higher for those investing through a stocks and shares ISA, rather than keeping their money in cash.
For example, Charles Stanley offers up to £1,500 cashback on stocks and shares ISA transfers.
You would need to transfer £100,000 to get at least £1,000 back, which is more than the Barclays cash ISA offers, plus the returns from the stock market could be higher over the long-term.
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Marc Shoffman
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Contributing editor
Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.
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