|APY||ACCOUNT TYPE||ACCOUNT NAME|
|1.75%||5-year CD||60 Month Online CD|
1.85% - Synchrony Bank 60 Month CD
|1.60%||4-year CD||48 Month Online CD|
1.00% - Ally Bank Online Savings Account
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.
I've been with Barclays for a short period of time now with an online savings account, and my experience has been great so far. First, the APY on the account is 1%, which is higher than anything else I found when considering a new account. The process of opening an account was very simple, and Barclays' communication with me via email was excellent. There are no fees on the account, and I was able to open the account with a small beginning balance. Since opening the account, I've spoken on the phone with one of their customer service reps about some questions I had, and the level of professionalism was good. They made things easy to understand and answered my questions. Using my account online has been simple and I can't say enough good things about Barclays. I'm so happy I made the decision to open an account with them rather than one of my local banks.
There's really no beating this bank when it comes to online banking. I've had a few different online savings accounts, but I've decided to switch almost all of it to Barclays. I've only had good experiences with their customer service when trying to set up accounts and using their online site. Their 1% APY is also one of the highest I've seen around and not needing a minimum balance to open made it very easy to open. You really can't beat the convenience of online banking and the perks it comes with!
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||1.94%|
|Return on Equity - YTD||15.29%|
|Annual Interest Income||$673.9MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$29.37B$25.22B|
|Loans||Q1 2016vs Q1 2015||$22.46B$19.86B|
|Deposits||Q1 2016vs Q1 2015||$20.68B$17.00B|
|Equity Capital||Q1 2016vs Q1 2015||$3.69B$3.21B|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$770.9MM$642.6MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$254.5MM$200.7MM|
|Real Estate Owned||Q1 2016vs Q1 2015||$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|
|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