Barclays study: UK population is offer-phobic

• The average Brit is offer-phobic, missing out on £520 from ignoring offered deals
• Barclays sends fleet of coffee vans around the UK, but there’s a twist…
• The vans will hand out breakfast and £7 to commuters across the UK

LONDON, 27-Apr-2017 — /EuropaWire/ — Sometimes you can look a gift horse in the mouth, or so say Barclays as they drive a coffee van with a difference across the UK. Following a study conducted by the bank that reveals 41 per cent of Brits would prioritise cash or cashback over any other form of deal, the van will allow customers to buy a coffee and a croissant for £3, giving them £7 (and their breakfast) in return.

Despite this attraction to cashback, the study also discovered that the UK population is offer-phobic with each person losing a potential average of £520 annually – with ten per cent even admitting to missing out on up to £1,300 – as 2 in 5 (39 per cent) of the UK still turn down a deal for fear of a hidden catch.

The most common reasons for turning down a deal:

• There could be a hidden catch (39 per cent)
• Fear of being tied into something (17 per cent)
• The value seeming too good to be true (13 per cent)
• Sharing personal details (7 per cent)
• Perceived low quality (5 per cent)

The breakfast deal mirrors Barclays Blue Rewards – a rewards programme that for a £3 monthly fee gives Barclays current account customers a minimum £7 loyalty reward each month. Barclays has also announced that anyone who signs up to the Blue Rewards loyalty scheme before the end of April will be awarded double rewards for the month. This is open to new sign-ups to Blue Rewards, including existing Barclays current account holders.

The van will be appearing at several locations across the UK this week:

Tuesday 25^th April – London, Covent Garden Piazza

Wednesday 26^th April – London, Covent Garden Piazza

Thursday 27^th April – Manchester, Unit 14 Barton Arcade

Friday 28^th April – Edinburgh, 63A Cockburn Street

Catherine McGrath, Managing Director, Personal Banking at Barclays said: “We’re looking forward to brightening up commuters’ mornings – sending the van across the UK to show that some deals are good enough to be true. Customers can claim their Barclays Blue Rewards cashback in just a few clicks.”

Those who join Barclays Blue Rewards for the first time in April can also earn double cashback when they shop online with a range of retailers during April.

* 4.9 per cent APR representative on loans of £7,500 – 15,000 0ver 2-5 years. The rate you’re offered may differ from the representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term.

Notes to Editors

Survey carried out by One Poll amongst 2,000 UK adults.

What is Barclays Blue Rewards?

Launched in 2015, Barclays Blue Rewards pays customers monthly cash rewards to recognise and reward their relationship with the bank – both today and in the future. For a fee of £3 per month, customers who opt-in for Blue Rewards will receive cash rewards of up to £16/month and enhanced cashback, regardless of their credit balance.

Customers’ rewards and cashback are added to their Rewards Wallet which can be viewed through Barclays Online Banking or the Barclays Mobile Banking app.  They can clearly see what they get paid each month and their total balance. The rewards and cashback can then be redeemed into a Barclays account at any time.

Who is eligible?

To be eligible for Barclays Blue Rewards customers need to have a suitable Barclays current account, have £800 paid into their account every month and pay the £3 monthly fee.

How does it work?

Customers who switch on Blue Rewards can receive a Loyalty Reward of up to £7 a month for banking with us – receiving £3.50 cashback for each of the first two Direct Debit payments made each month.

If customers hold additional products with Barclays, they can receive additional cash rewards – £5/month Mortgage Loyalty Reward, £1/month Loan Loyalty Reward* and when they take out or renew Home Insurance a Home Insurance Loyalty Reward of up to £3/month.

Customers can also earn enhanced cashback through Blue Rewards – with up to 7% cashback on travel with Expedia and extra cashback when they shop online with a range of retailers. Customers can also earn £25 when they switch their TV or broadband provider with Simplifydigital.

Full T&Cs can be found at www.barclays.co.uk/bluerewards 

About Barclays
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .

SOURCE: Barclays

Press Office

If you are a journalist you can contact the press office on:

Tel: +44 (0) 207 116 4755

Our press office does not have access to customer details and will not be able to assist with individual customer enquiries. If you are a customer and would like to speak to someone, please call 0345 734 5345.