|Account Type||APY||Account Name||Min||Max|
|Savings||1.00%||Online Savings Account||-||-||Details »|
|CD||1.20%||12 Month Online CD||-||-||Details »|
|CD||1.50%||36 Month Online CD||-||-||Details »|
Barclays 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.
Easy to open. Easy to setup multiple banks. East to use and manage account on simple website.
Hold time seems long, but does not effect me as I am not doing in & out transactions
Highly recommended by someone who is looking for a good rate and easy access to my money.
For many years, all we had were the standard "brick and mortar" type banks. With the profound impact of the internet, it is now easy to avoid long lines, inconvenient hours and mediocre customer service. My acquaintance with Barclays began when I participated in a qualifier tournament for the U.S. Open, several years ago. As part of the "swag" bag of gifts received was a brochure for Barclays. Due to my association with the PGA, and participation in the tournament, I was offered a gift card for joining. While the gift came in handy, the experience has been superb. I can use the mobile app for deposits, access their site for easy transfers from one account to another, and can use almost any ATM to make deposits or get cash. The site is secure, compatible with my own security software and customer service is always just a "chat" away, anytime of the day or night. For my banking needs, this was the best decision I ever made.
I was highly disappointed with this bank. The fees were higher than I'd seen with other institutions, for one thing. My main problem with Barclays was that they wouldn't cash even small checks if I didn't have enough money in my checking account to cover them if they bounced. Other banks I'd dealt with typically allowed me to do so on smaller amounts, like under $500. Barclays wouldn't even allow that for checks of $30. Seems to me this bank is more suited to wealthier people. In addition, I typically had to wait in line for long periods of time. Often the waits seemed long because people in front of me had problems with fees they'd been charged and didn't expect or think they deserved. At other times, tellers took a lot of time trying to sell customers on other bank services.
I have a savings accounts with Barclays and I was just monitoring how they calculate interest. I tried to check the calculation and to my surprise it was not matching. When I tried in all the possible ways of calculating interest and it didn't match to what I was getting, I called customer care. I asked them to help me understand the calculation and I was told that the calculation is all correct because the rep was sitting somewhere is far east and had a pre-fed calculator to check the math. I requested to explain me the formula but he failed. Then I asked for a manager and when i spoke to the manager, I came to know that the 0.90% APY is actually not 0.90% APY its 0.888896% APY and that my calculation on the amount is right. They have rounded it to display 0.90% APY.
THIS IS REALLY SHOCKING.
|FDIC Certificate #||57203|
|Return on Assets - YTD||1.51%|
|Return on Equity - YTD||11.94%|
|Annual Interest Income||$2.18B|
|Assets and Liabilities|
|Assets||Q3 2016vs Q3 2015||$31.24B$26.61B|
|Loans||Q3 2016vs Q3 2015||$23.73B$21.26B|
|Deposits||Q3 2016vs Q3 2015||$21.82B$18.16B|
|Equity Capital||Q3 2016vs Q3 2015||$3.87B$3.47B|
|Loan Loss Allowance||Q3 2016vs Q3 2015||$930.9MM$682.2MM|
|Unbacked Noncurrent Loans||Q3 2016vs Q3 2015||$283.6MM$210.7MM|
|Real Estate Owned||Q3 2016vs Q3 2015||$0$0|
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|
|1.00%||-||-||Online Savings Account|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|1.75%||-||-||60 Month Online CD|
|1.60%||-||-||48 Month Online CD|
|1.50%||-||-||36 Month Online CD|
|1.35%||-||-||24 Month Online CD|
|1.25%||-||-||18 Month Online CD|
|1.20%||-||-||12 Month Online CD|
|0.60%||-||-||9 Month Online CD|
|0.55%||-||-||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