I tried to transfer almost $200,000 into a new account. A week later, it still hadn't happened. Phone support was useless.
It's been difficult to find a money market that wants this money.
I'll keep looking!
The online application is a complete failure. First, it asks you for unreasonable personal information such as your mother's maiden name. Second, I started the process multiple times, but it never succeded. Besides, return to an existing application feature does not work either. I ended up with my very personal information blocked somewhere inside Barclays, and I am not sure it is secure enough. At least I did not initiate money transfer to the new account.
Barclays offers a high rate (0.90%) with no material restrictions or fees. The one deficiency is that Barclays does not allow wire transfers, either incoming or outgoing.
Having used the service for 3 months, here's a summary:
• High rate of 0.90% (though it dropped from 1.00% a month after a signed up)
• No minimum balance
• No significant fees. Probably the only ones of note are $5 for each withdrawal beyond 6 in a month (at least Barclays will allow more than 6), and $0.50 for a paper statement as opposed to an electronic account statement
• Easy to withdraw money. Barclays limits withdrawals to $250,000 per ACH transfer, but you can do as many transfers as you want in a day, so there is no real withdrawal limit
• Excellent customer service
• No ability to send or receive wire transfers
I tried to open an account this evening. I went through the entire process, then at the end was informed that there was an error, and that I should call their toll-free number.
I have had no problem opening online accounts at other banks.
What's the point of an online bank that can't open accounts online?
I recently (July 2013) opened a savings account online. At first it was a bit tricky because they set up a profile (user name and password) for each person on the account. Once I figured out I needed to set up my husband with his own profile and then do mine, it was a piece of cake. From there I was easily able to link external accounts and transfer money in. I haven't tried to take money out. I had to call once with a question. My inquiry was handled quickly and professionally. I give Barclays five stars!
I opened 3 CDs for $10,000 each online without any problem. I did not use Barclay's system to get the $30,000 into my Barclay's savings account so it was as if I made a direct deposit and the money was immediately available to fund the CDs from my savings account. It was very easy to have the monthly interest swept into one of my linked bank accounts. On the first of May (2014), the interest from the three CDs was transferred out of Barclays without a glitch.
I am very satisfied with Barclays. I've had a savings account with them for two years now.
I had planned to move an expiring CD from Alliant CU to Barclays, but I couldn't log on to my Barclays account. (My computer had been slow and weird for a couple of days.)
I called Barclays customer service and the phone guy went way beyond "bank teller" and walked me through clearing the cache on my computer and doing diagnostics and fixed my computer!! I logged on to my account and quickly set up my new CD.
Kudos to Barclays for going above and beyond.
I opened a Barclays online savings account last month. There's a test deposit process for them to verify an external source to fund the account. I've gone through this process TWICE now, and I still can't verify my accounts. Hence, I can't fund the Barclay's account, hence the big interest rate that attracted me to Barclay's in the first place has been utterly useless to me. If you're going to offer online services, for godsake, fix your website!
I just finish speaking with a representative and he told me he couldn’t help me with investing $13000.00 in to a IRA account,
Then I wanted to invest $62000.00 and he said he still couldn’t do nothing for me. My question is how much money does one need to open a account with your bank?