On the condition that customers pay £1,000 into their account each month, customers will be given the £5,000 interest free Barclaycard, along with a £5,000 interest free overdraft, for ten months.

They will also be able to claim a refund on their Additions Plus account – the sum of £12 a month will be refunded at the end of the ten-month period, resulting in a windfall of £120.

Barclays says that its promotion is part of a drive aimed at increasing competition in the market and encouraging customers to stay with the bank.

Mike Rogers, Barclays managing director, UK retail banking, said: “We believe this account promotion sets a new value standard and brings the benefit of 0 per cent balance transfers to the current account market.

“At the end of the ten months we believe that new customers will see the value of the benefits of the Additions Plus account and will want to stay with us.”

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