Anyone Still With An Old Barclays Dream Account? Have You Converted To A New Online Savings Account?

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bluerafters
Posts: 78
Joined: Mon Sep 18, 2017 7:14 pm

Anyone Still With An Old Barclays Dream Account? Have You Converted To A New Online Savings Account?

Post by bluerafters » Thu Jun 14, 2018 4:12 am

https://www.banking.barclaysus.com/faq.html?wc=true

The deprecated Dream is returning APY 1.20%, I’ve have 10k sitting in it, and has a bonus feature:

What bonuses can I earn?
When you make deposits every month for 6 consecutive months, you’ll earn a 2.5% bonus on the total interest earned over that time.
When you make no withdrawals over 6 consecutive months, you’ll earn a 2.5% bonus on interest you’ve earned over those months.

How hard was it to covert a Dream Account to a Online Savings Account?

At what point does it make sense mathematically to leave the Dream and move to a traditional savings (currently APY 1.65%)?

Or have you Left Barclays altogether in pursuit of higher % APY?

NancyABQ
Posts: 218
Joined: Thu Aug 18, 2016 3:37 pm

Re: Anyone Still With An Old Barclays Dream Account? Have You Converted To A New Online Savings Account?

Post by NancyABQ » Thu Jun 14, 2018 7:58 am

I moved my Dream Accounts to regular savings months ago. When I noticed they raised the savings account rate and didn't raise the Dream Account rate, I called and they told me they were phasing them out. So I just moved everything to regular savings accounts.

That 2.5% bonus is inconsequential -- it is 2.5% on 1.20%, or basically 1.23%... The regular savings accounts are making 1.65% right now. Back when they supported the Dream Accounts, the rate was higher than a Savings account, but no more.

I recommend you switch right away!

bluerafters
Posts: 78
Joined: Mon Sep 18, 2017 7:14 pm

Re: Anyone Still With An Old Barclays Dream Account? Have You Converted To A New Online Savings Account?

Post by bluerafters » Thu Jun 14, 2018 11:02 am

NancyABQ wrote:
Thu Jun 14, 2018 7:58 am
I moved my Dream Accounts to regular savings months ago. When I noticed they raised the savings account rate and didn't raise the Dream Account rate, I called and they told me they were phasing them out. So I just moved everything to regular savings accounts.

That 2.5% bonus is inconsequential -- it is 2.5% on 1.20%, or basically 1.23%... The regular savings accounts are making 1.65% right now. Back when they supported the Dream Accounts, the rate was higher than a Savings account, but no more.

I recommend you switch right away!
Appreciate the reply. Did you call or were you able to switch over online?

NancyABQ
Posts: 218
Joined: Thu Aug 18, 2016 3:37 pm

Re: Anyone Still With An Old Barclays Dream Account? Have You Converted To A New Online Savings Account?

Post by NancyABQ » Thu Jun 14, 2018 11:48 am

bluerafters wrote:
Thu Jun 14, 2018 11:02 am
Appreciate the reply. Did you call or were you able to switch over online?
I called them and had them do it for me. I don't know if you can do it online. But I recall it was pretty painless.

bluerafters
Posts: 78
Joined: Mon Sep 18, 2017 7:14 pm

Re: Anyone Still With An Old Barclays Dream Account? Have You Converted To A New Online Savings Account?

Post by bluerafters » Thu Jun 14, 2018 3:31 pm

NancyABQ wrote:
Thu Jun 14, 2018 11:48 am
bluerafters wrote:
Thu Jun 14, 2018 11:02 am
Appreciate the reply. Did you call or were you able to switch over online?
I called them and had them do it for me. I don't know if you can do it online. But I recall it was pretty painless.
Gotcha. Thanks!

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