Welcome to the Money blog. Today: Payment services went down at Metro Bank this morning; details on EU travel changes this Sunday; this week’s Money Problem involves a neighbour who borrowed £1,000 and won’t pay it back; and we report on a large survey of Britons about retirement.
Tuesday 7 October 2025 12:30, UK
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Barclays has launched an offer which means some people could get up to £900 if they switch both their current account and ISA savings.
Here’s how you can get it…
Under a new current account deal, you can get £400 by switching to a premier current account and depositing £4,000 within 30 days.
The switch must be completed through the Current Account Switch Service.
To qualify for premier banking, you need to pay in a gross annual income of at least £75,000 or have a total balance of at least £100,000 in savings with Barclays in eligible investments, or a mix of both.
If this doesn’t suit your needs, you can also get £200 for switching to one of its Blue Rewards bank accounts and depositing £2,000.
To get the free cash, you need to sign up to the Blue Rewards scheme for £5 a month, which comes with perks such as cashback on spending, enhanced savings rates and an Apple TV+ subscription.
You must also complete a “full switch” in the app, including at least two active direct debits.
Both of these offers apply to switches made before 27 November.
The ISA cash reward on offer
On top of the current account offer, customers who make the switch may qualify for additional cash bonuses by moving their ISA savings.
The ISA cash reward is up to £500 per customer – though you need to be pretty well off to get that…
To get an ISA transfer reward, you need to already hold or open a Barclays current account and then use the ISA transfer-in service to move a minimum of £25,000 to one of Barclays’ cash ISA products.
How much you receive will be based on how much is transferred.
To get the full £500, you need to transfer £100,000 or more.
By transferring £25,000 to £49,999.99, you will receive £100; and if you move £50,000 to £99,999.99, you can get £200.
The steps must be completed by 28 November to receive the ISA reward.
To use Barclays’ ISA transfer service, you need to select the “transfer-in an existing ISA” option in the app or online banking, or you can visit a branch.
The reward payment will be paid to your Barclays current account within 60 business days after the completion of the last eligible transfer or 60 business days after 28 November, whichever is sooner, the bank said.
By James Sillars, business and economics reporter
Metro Bank believes the cause of its glitch (9.56am post) has been fixed.
A spokesperson has just said: “We experienced a short delay affecting inbound and outbound payments earlier this morning.
“This was resolved and customers can currently make payments as usual.
“Some customers may see delays while we process these earlier payments, we are prioritising this and working hard to minimise impact. We apologise for any inconvenience.”
One of the major complaints among customers on social media has been a lack of communication from the bank – with many expressing shock over balances that placed them either in the red or more in credit.
Metro Bank said the service status page on its website is its primary information source.
The page is still telling customers that there are issues with its payment services.
While it made clear from the outset that people could not send or receive money initially, there was no information concerning rogue balances in the wording of those service updates or advice on what customers should do.
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By James Sillars, business and economics reporter
A hefty share price fall for the thrifty B&M this morning.
The struggling discount retailer’s stock plunged by 21% at the market open, sending shares down to levels last seen at the start of the COVID pandemic.
That was on the back of a profit warning due to weaker than expected UK sales.
B&M has been battling weaker demand from customers and strong competition across its core UK operation at a time of higher costs from government policy, including April’s rise in employer national insurance contributions.
A turnaround plan by new chief executive Tjeerd Jegen failed to prevent the sharp decline in the share price though it had recovered half the losses by mid-morning.
B&M said it was to lower prices, tackle inconsistent pricing, improve availability of popular consumer products and simplify ranges.
At the same time, investors were warned the plan could take up to 18 months to bear fruit.
New travel rules are being introduced across the EU (except Cyprus and Ireland) from Sunday – but Britons will have different experiences depending on where they’re travelling to, Sky News has been told.
The new rules require people entering 29 countries in the Schengen area to have their passport scanned and fingerprints and photograph taken.
Though countries are obliged to get going with the new system from Sunday, they have six months to complete the rollout.
The Independent’s travel editor Simon Calder told Sky News those travelling to Spain may not notice any difference at first.
“I’ve contacted all 29 of the nations involved and some of them, specifically the Czech Republic, Estonia, Luxembourg, say they’ll be ready from day one, everybody travelling in and out is going to be checked,” he said.
“But in Spain, for instance, they say they’re going to check exactly one flight coming into Madrid airport and after that they’re going to roll things out gradually at the international airports, then the roads crossings, then the seaports.”
Calder has been told that Dusseldorf will be the starting point in Germany.
He said Britons should expect longer queues – though countries can largely pause the implementation at various points if waiting times grow too long.
You can read our full guide to the changes here…
And watch Calder’s full interview on Sky News…
By James Sillars, business and economics reporter
Payment services are down at Metro Bank.
The cause of the glitch is not yet clear but many customers are reporting that money has either been added, or taken from their accounts, on multiple occasions.
“Our payment services are currently unavailable. We’re working to fix the problem and have them up and running as quickly as possible and apologise for any inconvenience this may cause you,” a message on the bank’s service status web page says.
“Our payment services are currently unavailable, so you won’t be able to send money to other accounts.”
It also warned that it was receiving a high number of calls to its helplines.
Downdetector, which track errors on different websites, shows problems started being reported at around 6am.
Sky News has contacted Metro Bank for comment.
The average UK house price fell by 0.3% in September, Halifax has said.
The annual rate of house price growth also eased to 1.3%, from 2% in August, taking the typical property value to £298,184.
Amanda Bryden, head of mortgages at Halifax, said: “This slight monthly dip in house prices reflects a housing market that has remained broadly stable, prices are up 0.3% since the start of the year.”
We’ve had a lot of expert reaction coming in on email – this, from Tom Bill, head of UK residential research at Knight Frank, fairly sums it up…
“Sellers are getting the message that house prices are under pressure due to higher levels of supply and a creeping mood of caution as November’s budget approaches. Stable mortgage rates have supported demand but we believe prices will continue to dip modestly before ending the year broadly flat.”
One in five retirees wishes they’d planned their retirement more thoroughly, a survey has found.
The same number said they didn’t realise how much money they would really need or that they’d be retired for so long, according to Standard Life’s Retirement Voice 2025 report.
Interestingly, 16% felt they should have spent more money during the earlier years of their retirement while they were fit and active, rather than saving it for fear of running out.
I’m retiring when?!
Of those Britons who haven’t yet reached retirement, a significant number are in for a big shock: They’ve got many more years left to work than they think.
A total of 14% of respondents thought the retirement age was 64 or below. Eight per cent thought it was 60 years old.
Some 18% were close at 65 – one year out.
The correct age is 66 – identified by just 18% of those surveyed.
The pension age will rise to 67 for those born after April 1960, and 36% guessed this age.
Others are in for a pleasant surprise, with 13% thinking the retirement age is 68 or higher.
It is scheduled to rise to 68 between 2044 and 2046.
Who’s really in charge of your pension?
Three-quarters of savers overestimate how much control they have over the size of their pension.
The stock market is responsible for almost two-thirds of its value, but just 25% of people thought investment growth was the top contributor to their pension pot, according Standard Life analysis of a typical £170,000 pot.
But it’s important to remember that initial individual contributions are essential for investment growth.
Every Tuesday, we get an expert to answer your financial problems or consumer disputes – you can WhatsApp us here or email moneyblog@sky.uk. Today’s is…
A neighbour has borrowed more than £1,000 from me with the promise to pay me back by the end of the month. Nothing has been forthcoming. I’ve sent her texts asking for her to let me know when she is putting it in to my account… no answer at all. What are my legal options?
Tony, via comments box
Thanks for your message, Tony – I wish I had a neighbour as generous as you.
From what you describe, there was an oral agreement here, which isn’t the best grounds for getting your money back.
The neighbour might argue that there were no particular payment terms (so that the loan is not due by the end of the month) or even that there was no loan at all (that the money was instead a gift).
It would then be up to the court to decide on the evidence whether a loan existed and what its terms were.
I spoke to solicitor Alex Kennedy, a dispute resolution expert at Gannons, to get some firm guidance for you.
“Evidence of messages, bank payments etc are so important,” he says.
“If there are no documents at all, the person who is owed the money could still present their case, it is just the trial judge would be weighing their witness evidence against that of the borrower.”
So what can you do now?
Kennedy says the most obvious legal route now is to send a formal letter before action to your neighbour, setting out:
This can be done by you or a solicitor and could well prompt your neighbour to cough up.
“Tony will need to bear in mind whether the relatively small value of the loan means that instructing a solicitor is a disproportionate expense, especially given that it is unusual to recover legal costs in respect of a small claim,” Kennedy says.
“If the cost of a solicitor is considered to be excessive, we would still recommend that the person who is owed the money drafts a letter before action themselves.”
If your neighbour is still not budging, there’s the option to issue a claim online via the Money Claim Online service or through the local county court.
The claim fee depends on the size of the debt (for £1,000 to £1,500 it is £70 if issued online).
If successful, you will obtain a county court judgment.
Kennedy says your reader can enforce the judgment in several ways, including:
“Interest and some legal costs can be claimed as part of proceedings, but as I have set out above, they may be limited given the value of the debt,” Kennedy says.
Of course, only you can decide whether taking any of these steps against someone you’ll be seeing all the time is the right way to go.
Good luck with it!
This feature is not intended as financial advice – the aim is to give an overview of the things you should think about. Submit your dilemma or consumer dispute via:
Our final post today brings you news of freebies…
OVO Energy has launched a support package for customers, offering them free heated blankets, smart sockets and efficiency kits.
The firm is spending a total of £56m on support for struggling customers throughout the winter months.
Alongside the free energy saving products, customer can apply for a range of other help.
This includes:
You can apply for the support here.
It’s important to note that when you apply, things like household income, disposable income, and medical needs will be taken into account.
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