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125 South West Street
Wilmington, DE 19801

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.

Related Posts

Barclays CD Rate Changes: 5-Year Falls But Shorter Terms Rise - 7/11/2016

Barclays made several CD rate changes late last week. The 5-year CD rate had a large decline falling 30 basis points to 1.75% APY. The shorter terms had rate increases.

Barclays 5 Yr CD Now 1.75% - 7/8/2016

I'm not sure when this changed but it was 2.05% until very recently.

Barclays 5 Yr CD Rate Drop - 3/7/2016

Barclays 5 yr CD rate dropped from 2.25% to 2.05%

View all posts from:

12/2/13 - Barclays’ New Dream Savings Account
10/3/13 - Another 5-Year CD Rate Hike at Barclays
8/29/13 - Higher 5-Year and 4-Year CD Rates at Barclays
8/28/13 - Barclays 5Year CD Rate Increase
6/19/13 - Barclays 5Yr CD Rate Drop
5/17/13 - Barclays Online Savings Account Rate Falls After More Than a Year at 1.00%
5/16/13 - Rate Drop On Online Savings At Barclays
5/14/13 - Barclays Now Allows Interest Disbursement On CDs
4/29/13 - First Anniversary of Barclays Online Savings Accounts and CDs
3/19/13 - Barclays Increases Early Withdrawal Penalty on New CDs
3/29/13 - Discrepancy Between FAQ And Terms And Conditions For Barclays CD Early Withdrawal Penalties
1/29/13 - CD Rate Hike at Barclays - Review of Barclays Online CDs
1/23/13 - Comparison of Long-Term CD Rates After Early Withdrawal Penalties - January 2013
1/2/13 - Barclays 20% Deposit Account Bonus
11/15/12 - Barclays Surpasses $1 Billion In Deposits For Its Online Savings Accounts And CDs
11/9/12 - Barclays Probed By US Over Saudi Banking Licence
9/18/12 - Comparison of Long-Term CD Rates After Early Withdrawal Penalties - September 2012
8/7/12 - Comparison of Long-Term CD Rates After Early Withdrawal Penalties - August 2012
6/5/12 - Comparison of Long-Term CD Rates After Early Withdrawal Penalties
5/8/12 - 5 Top Long-Term CD Rates After Early Withdrawal Penalties
5/7/12 - Barclays Officially Launches Its New Internet Bank
3/28/12 - Banks That Give Certainty About CD Early Withdrawals
3/23/12 - New Internet Bank with Savings Account and CDs Launched by Barclays

Reviews (101)

Great rates for secure CDs

I had been saving a great amount of money from my paychecks in order to put a down payment for a condo that I wanted. I started noticing however that no matter how much money I had in my savings account it would just sit there barely earning any interest which did not seem fare to me especially knowing how the banks use the money available. I started shopping for Certificate of Deposit accounts around my city but none of them seem to be a good fit either because of the lower rates or because I just did not trust bank performance. A friend of mine told me he had done business with Barclays and that it was a great bank. I decided to check it out and yes just like my friend said great rates. It was a little difficult getting thru the application process as I had to give and send a lot of information. However this made me trust them in how secure things were at the bank. After about 3 years it was time for my CD to finish the term and I was immediately contacted by one of their bankers showing me the options that I had to either retrieve my money or to continue with a different account. It was great to have someone call me as this made my experience very personal and it showed that they cared about my money and how much it could grow. Needless to say I would be happy to do business with Barclays again.

Website And System Needs Improvements

Posted by: Saver1 | Sep 29, 2016

Barclays saving is a good online bank. Their website needs improvements though. Emails to customers about transfers/deposits being posted and completed are being sent out days before it actually happens. Customer service confirmed this is happening. When a new customer links an external account, it takes a couple days for the test deposits to show up which is normal. However, an email is immediately sent out about test deposits already sent and to go ahead and verify it. Also, when a deposit into Barclays is made, an email is being sent out saying that it has been posted and completed. I called and it will take 8 more days for this to complete. Why are emails being sent out beforehand with the incorrect info?
This is resulting in confusion and misplaced trust in their system. Even more unnecessary calls to customer service will go out, increasing costs and more wasted time.
Website quality assurance should be a priority. There is no mobile app which is a real bummer because it would be easier to use than the mobile website, which is not very user friendly.

I like that they have no hidden fees and their dream account is nice to have. Hoping for their website, email improvements.

Be Careful

Barclays online process is not upfront. The setup process does not have backup to allow customer to confirm new account setup worked properly. They say a test deposit will be made but instead the bank just takes money from the account before person has chance to review and confirm, etc. this process needs to have a couple of steps so a person understands the accounts setup worked properly and can ensure funds are in proper place. Beware because if they take your money they will not give it back for 5 days. Argument is they don't actually have money yet from bank but want to pay you interest faster. What about a method that I can be confident in and in control. A simple slip up on touchscreen could cost someone a ton of money. For example maybe you accidentally tapped I. An extra zero and transfer 1000000 rather than 10000. You can't get a correction for 5 Days. Yikes! They need to be especially careful with first time customers so all goes smoothly. Customer service people are pleasant but I hate the Nothing we can do excuse because there is always something a business can do. They just choose NOT to do it.

Shows As 0.90% APY But Its Not

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.




Health Grade Components

FDIC Certificate #57203
Year Established2001
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.51%
Return on Equity - YTD11.94%
Annual Interest Income$2.18B
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$31.24B$26.61B
LoansQ3 2016vs Q3 2015$23.73B$21.26B
DepositsQ3 2016vs Q3 2015$21.82B$18.16B
Equity CapitalQ3 2016vs Q3 2015$3.87B$3.47B
Loan Loss AllowanceQ3 2016vs Q3 2015$930.9MM$682.2MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$283.6MM$210.7MM
Real Estate OwnedQ3 2016vs Q3 2015$0$0
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Barclays Savings Account Rates

1.05%--Dream Account
1.00%--Online Savings Account

Barclays CD Rates

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