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.

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).

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.