Barclays is offering cash prizes of up to £20,000 – but you’ll need to be quick

Barclays expert on possible long term growth from investing

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The Barclays competition is a fun incentive to encourage customers to invest in their future. One lucky winner will win a cash prize of £20,000, while 10 more customers will pick up prizes worth £1,000 each.

“But many are nervous about investing because they don’t know much about it, or don’t feel they have the time to make their own investment decisions.”

Investing for the first time can seem daunting, something Barclays has approached head on.

Ms Francis added: “Smart Investor has five ready-made investments which are ideal for people starting out or who are short of time as you just need to choose the level or risk you are comfortable taking.

“Alternatively, our digital wealth manager Plan & Invest enables customers to complete an online questionnaire where we ask about their reasons for investing, what they’re trying to achieve and how they feel about risk.

“We’ll then create a personalised Investment Plan based on what they tell us and make all the investment decisions on their behalf.”

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What are the competition rules?

  • For every £500 topped up in an ISA or GIA by May 14 2022, (including withdrawals), customers will receive one prize draw entry.
  • There will be 11 winners, with one £20,000 prize and 10 x £1,000 prizes.
  • Customers must deposit funds into their Smart Investor account from a nominated bank account. Transfers are not in scope. Withdrawals will be considered, and the balance will be measured netted against withdrawals e.g. top up £5,000, withdraw £3,000, eligible: £2,000 (four entries).

Eligible customers will automatically be entered into the prize draw, Barclays Smart Investor said.

Customers will receive one entry for every £500 of cash invested minus any withdrawals.

The cash only needs to be paid into the account, rather than invested.

The draw is open to customers with an ISA or General Investment Account, who are over 18 and resident in the UK.

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Meanwhile, Barclays is also launching a cash incentive for customers who open its Plan and Invest account.

New customers will receive £100 if they open an account with Plan & Invest by May 10 and invest £5,000 or more within 90 days.

However, if they want to make use of this year’s ISA allowance, they must transfer the money into their account by April 5, otherwise it will count towards their 2022/2023 allowance.

Barclays Smart Investor is a DIY investment platform which enables customers to take control and make their own investment decisions.

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