|Account Type||APY||Account Name||Min||Max|
|Savings||1.00%||Online Savings Account||-||-||Details »|
|CD||1.50%||36 Month Online CD||-||-||Details »|
|CD||1.60%||48 Month Online CD||-||-||Details »|
|CD||1.75%||60 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.
I was looking online to open a bank account for my baby, and I found this one. It was easy to open a joint account online, and no minimum deposit was required. I decided to open the Dream Account because it rewards you if you make 6 months of consecutive deposits, and then there is an additional reward if you do not make any withdrawals for 6 consecutive months. So I just have my local bank transfer money into this account every month. Which is very simple, and it can all be done online. Another reason I decided to open an online account with them is that they have one of the highest savings rates in the industry. Since it was so simple to do, I decided to to open an additional savings for myself and transfer all my savings from local bank into this new online account, and I also opened a couple CD accounts, since the rates are higher than most. It was all very simple to do and only took a few minutes. Every time you make a transaction, you get notified by email so you always know whats going on. One thing that some people may not appreciate is that you won't have quick access to your money, if you need it for an emergency. There is no debit card and money has to be transferred to your local bank account which can take a couple days. But, that all can be avoided just by not putting your emergency funds into this online account.
I found Barclays in an online article, listed as offering the savings account with the absolute best interest rate of any available in 2015. I quickly decided to open an account with them as I endeavored to build my savings. I'm a young college student, so this was my first time having a real savings account. I wanted to get as much as I could out of my relatively small income (I have a few part-time jobs) and I am pleased to say that the Barclays Online Savings Account's high interest rate absolutely empowered me to do so. As for the other aspects of the site, those were perfectly satisfactory as well. The interface is modern, visually appealing and intuitive, and it's relatively simple so that all possible actions--transferring money, account settings--are easy to find. I cannot speak to the quality of Barclays' customer service, never having needed to contact them, although I think that fact in itself speaks to the website's ease of use. All in all, I'm very pleased with Barclays and intend to continue banking with them for as long as their interest rate remains highly competitive.
Was never a huge fan of the brick and mortar bank and it was more a hassle than anything to have to go there. When I heard about the spread of online banks, I took a look around and decided with Barclays due to my past experience with their credit card being positive.
Overall, I'm happy with the experience. Their user face is a bit bland and no frills and their app could be better, but overall the service is excellent and fees are low, which is the most important thing. Additionally, another key factor is customer service and I have to say I am happy with Barclays. Definitely some improvements that can be made, but, aside from Discover, Barclays has been the most positive customer service I've had with a financial institution. I hope they keep improving, but the current quality is more than sufficient.
If you're looking for simple, low-fee banking, Barclays should definitely be an option.
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.
|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