|Account Type||APY||Account Name||Min||Max|
|Savings||2.05%||Online Savings Account||-||-||Details »|
Barclays, a DepositAccounts.com advertiser, is a UK-based multinational bank that maintains operations in retail and investment banking, as well as lending, credit cards, and wealth management. The financial holding company, of which its personal banking component is a subsidiary, is one of the largest in the world, with trillions of dollars in assets.
On its personal banking side, Barclays has limited deposit account offerings available in the United States. The bank offers both a high-yield savings account and Certificates of Deposit (CDs) through its online banking platform. Both accounts feature attractive interest rates, with the savings account interest rate being one of the highest available in the country. DepositAccounts.com reported that the savings account interest rate remained over 1% for over a year until the summer of 2013. Barclays savings accounts have no hidden fees or minimum balances to join and come with an easy to use online banking system from which account holders can transfer funds, deposit checks via scanner or mobile deposit, and make online payments. Its savings accounts also come with a debit card that customers may use to withdraw funds at any Bank of America ATM for a discounted fee.
Barclays CDs are also managed on Barclays’ online banking system and offer a guaranteed rate of return with no minimum balance to open and no monthly service fees. Barclays began allowing monthly interest disbursements on its CDs in May of 2013. Both of these accounts may be easily opened and managed online.
Barclays online banking business is headquartered in Wilmington, Delaware, which is also home to its Barclaycard (credit card) division. The bank’s wealth management group is based in New York City, and all of its operations in the United States are subsidiaries of Barclays Bank PLC, a Financial Holding Company headquartered in London, England. The retail bank has no branches in the United States and provides its services through its online banking platform.
Barclays has a long history dating back to 1690, when two bankers started trading as goldsmith bankers. In 1965, the bank branched out to the United States for the first time when it started Barclays Bank of California in San Francisco. Today, the bank maintains operations through affiliates in over 20 countries.
I have been banking with Barclays for almost 5 years now. After I finished college, I wanted to open a new savings account that could maximize my interest rate. At the time, Barclays was one of the highest offerings at just over 2% interest for a savings account. The fact that they don't have large offices all over the country allows them to pass on the savings to customers through great interest rates. I ended up also opening a 5 year CD with Barclays and have been earning almost 2.5% interest with them for my CD. Though the stock market is better for higher earnings, I don't think there is a safer place to put your money than a high interest rate earning CD such as the one offered by Barclays. The savings account is great too, it's easy to set up and the customer service is actually top notch. They are always very nice and helpful.
When I went abroad to Madrid from January-July 2014, I opened a checking account at a Barclays bank so that I had access to a financial institution to pay rent, prepare for trips, take money out of ATMs, etc. I only opened the one checking account, and generally used it for wire transfers from my community bank back home, or to allow my parents to help me with funds while I was abroad. Being an international bank, the staff was incredibly helpful since I was operating on a "second-language basis." They made sure I felt comfortable navigating the bank, and also allowed me to set up mobile notifications so that I could track my savings, withdrawals and other features. I would definitely recommend the bank to anyone going on my program, as it met the basic necessities I was looking for in a short-term checking account, and the institution itself was beyond helpful to a foreigner.
When I was shopping around for a bank to open up a savings account, I was specifically looking for a (mostly) online account as they're typically the ones with no fees and low (or no) minimum balances. I narrowed it down to Discover or Barclays online savings and ultimately decided on Barclays because of their 1.5% interest rate as opposed to Discover's 1.0%. I read a bunch of reviews regarding the poor customer service at Barclays compared to the better-than-most customer service of Discover, but the extra 0.5% was too alluring. Problems with Barclays started right away. I thought I'd be approved right away signing up through their online portal, but I was given a message saying that my application was going to be reviewed. After waiting a couple of business days and no response, I decided to send their customer service an email asking about the status of my application. I never received a response and after a couple more days, I finally got a notice saying they could not approve the application. This seemed like a common occurence based on some of the reviews that I've read. If you're willing to follow through and deal with less than stellar CS over the phone, then the 1.5% savings account is certainly appealing. However, in the end, it just wasn't worth my time.
have been banking with Barclays us for several years and have several CDS with them, as well as two savings accounts, and I had intended on just leaving the interest until the CDS matured..
My problems began when I wanted to check their last financial statement for the third quarter of 2017, I was shocked they told me they are not required to do that, and gave different numbers that were all disconnected of course. Then all my monthly statements disappeared as if these accounts were no existent. I worked with them for a week no resolution.
This prompted me to close all Savings accounts, and transfer all the accumulated interest from the CDS., and discontinue any more Deposits with this Bank. It also prompted me to do more research, to find out this Bank does not make loans to Consumers, so I asked them what are they doing with all this money they are inducing people to Deposit, no answer of course.
I have now had to file a complaint with the Consumer Financial protection Bureau. I was even more horrified when I googled about Barclays and found people saying their money had just disappeared from their accounts as if it never existed in Barclays Uk. Barclays has on their web site , they state Barclays is their parent Company, this is no longer seems to be the Case either in information I saw.
I am posting my experiences so people can be aware of the problems. In reading a lot of other reviews, Barclays US seems to be okay while they are getting money from you , but a lot of Consumers State they have a problem when they want their money. Furthermore this is the third time I have posted this review and they delete it.
|FDIC Certificate #||57203|
|Return on Assets - YTD||1.57%|
|Return on Equity - YTD||11.15%|
|Annual Interest Income||$2.46B|
|Assets and Liabilities|
|Assets||Q3 2018vs Q3 2017||$32.97B$33.07B|
|Loans||Q3 2018vs Q3 2017||$24.39B$25.22B|
|Deposits||Q3 2018vs Q3 2017||$22.98B$23.22B|
|Equity Capital||Q3 2018vs Q3 2017||$4.87B$4.27B|
|Loan Loss Allowance||Q3 2018vs Q3 2017||$1.13B$1.03B|
|Unbacked Noncurrent Loans||Q3 2018vs Q3 2017||$370.2MM$310.5MM|
|Real Estate Owned||Q3 2018vs Q3 2017||$0$0|
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
Always verify rates and promotions with the bank or credit union. We are not Barclays; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.05%||-||-||Online Savings Account|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|3.10%||-||-||60 Month Online CD|
|2.85%||-||-||48 Month Online CD|
|2.75%||-||-||36 Month Online CD|
|2.70%||-||-||24 Month Online CD|
|2.65%||-||-||12 Month Online CD|
|2.65%||-||-||18 Month Online CD|
|0.70%||-||-||9 Month Online CD|
|0.65%||-||-||6 Month Online CD|
|0.35%||-||-||3 Month Online CD|
Barclays is an Internet only bank and does not have branch locations. Its headquarters is located at 125 South West Street - Wilmington, DE 19801