Barclays

Overview / Commentary

www.banking.barclaysus.com

888-710-8756

125 South West Street
Wilmington, DE 19801

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.

Barclays CD Rate Changes For 6-1-2023 - 6/1/2023

Barclays CD rate changes for 6-1-2023 include: 1-year CD @ 4.80% (was 4.90%) 18-month CD @ 4.80% (no change) 2-year CD @ 4.40% (was 4.60%) 3-year CD @ 4.30% (no change) 4-year CD @ 4.25% (was 4.40%) 5-year CD @ 4.20% (was 4.50%) To view Barclays CD rates see: https://www.banking.barclaysus.com/index.html (wuvulu21, thank you for the update regarding the rate change in the 5-year CD!)

5 Year CD Rate Drops - 6/1/2023

Down to 4.2% from 4.5% as of today - 6/1/23

Barclays Increases 60-Month Online CD Rate to a Competitive Level - 4/12/2023

Last week Barclays increased the rates of its three long-term CDs. Most noteworthy was the 20-bp rate increase of its 60-month Online CD.

View all posts from:

2023
2022
2020
Earlier

6/1 - Barclays CD Rate Changes For 6-1-2023
6/1 - 5 Year CD Rate Drops
4/12 - Barclays Increases 60-Month Online CD Rate to a Competitive Level
4/7 - Barclays CD Rate Changes For 4-7-2023
3/28 - Barclays Rate Change 03/28/2023
3/1 - Barclays Rate Changes For 3-1-2023
2/11 - Barclays Upped Savings To 3.60

12/16 - Barclays Rate Changes As Of 12-16-2022
11/9 - Online Savings 3%
11/4 - Barclays Rate Changes For 11-4-2022
10/14 - Online Savings Rate 2.4%
10/7 - Barclays Rate Changes For 10-7-2022
9/28 - Barclays Rate Changes 09/28/2022
7/16 - Barclay's Bank Savings Rate Now At 1.40%
6/24 - Barclays Rate Changes 06/24/2022
6/3 - Increase To 0.9 % At Barclay Bank

8/25 - Barclays Again Disappoints Savers With A Rate Cut.
7/29 - Barclays Slashes Online Savings Rate To 0.80%
5/31 - Barclays Going Down Again
5/7 - Barclays Bank Slashes Deposit Rates

Reviews (235)

Barclay Is A Good Bank...

Posted by: TBT | Nov 4, 2022

Barclay is a good bank. Folks can feel secure banking with them. Today they just raised their savings interest rate in one generous swoop from 2.4% to 3%. They had remained at a stubborn 2.4% for way too long while many of the other banks on this forum were already at 3% or more and going even higher after the Nov 2 Fed meeting of the .75% rate hike. (Fed hike as was expected) If Barclay is going to be competitive, as they appear to want to be, I wish they would be a bit more proactive and keep up with their competition in a more timely fashion. (and before I had already transferred 95K out of my account 24hrs ago. lol) Clients can’t afford to sit around on large balances at 2.4% wondering what Barclay is thinking and planning on doing as the days tick by into the new month. While I do NOT seek the ultra-high max 3.5% rates found at some of the smaller name banks with poor customer service and scary feedback, I also don’t want to be sitting around indefinitely on a stubborn low 2.4% rate at the better banks either. All in all, I still overall rate Barclay here as a 5 star bank with which importantly you can bank without worries.

Rates Too Low

Posted by: anonlol | Dec 21, 2022

Fed fund rate goes up .5 percent Barclay rate increased .05 there is an extra zero in this. Banks too spoiled for loose Fed Fund supply. Match the rates

Comment

Shows As 0.90% APY But Its Not

Posted by: ricklawton | Jul 22, 2014

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.

124

Suspended Account?!

Posted by: chazyim | Mar 31, 2023

I just opened a CD account and set it up to transfer $75,000 from my other bank account. I let them do the the small deposit verification process. And then next day I couldn't log into my newly opened Barclays account?! I called their Customer Service and they told that I need to send in my other bank's statement! Why didn't they say that BEFORE taking my money or send me a notification email explaining this? Why do they make me to call their Customer Service? I will see how long it will take them to unsuspend my account. I'm 61 years old and this is the WORST online bank experience ever so far.

I'm not the only one who's complaining of this kind of unhappy experience. Hope Barclays read all these comments and takes a corrective action ASAP.

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Health

Data as of Q1 2023

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	57203
Year Established	2001
Employees	3976
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.66%
Return on Equity - YTD	11.53%
Annual Interest Income	$1.25B

Assets and Liabilities
Assets	Q1 2023vs Q1 2022	$37.35B$29.59B
Loans	Q1 2023vs Q1 2022	$26.21B$20.42B
Deposits	Q1 2023vs Q1 2022	$28.95B$21.59B
Equity Capital	Q1 2023vs Q1 2022	$5.15B$5.52B
Loan Loss Allowance	Q1 2023vs Q1 2022	$2.36B$1.52B
Unbacked Noncurrent Loans	Q1 2023vs Q1 2022	$358.0MM$203.0MM
Real Estate Owned	Q1 2023vs Q1 2022	$0$0

APY	MIN	MAX	ACCOUNT NAME
4.80%	-	-	12 Month Online CD
4.80%	-	-	18 Month Online CD
4.40%	-	-	24 Month Online CD
4.30%	-	-	36 Month Online CD
4.25%	-	-	48 Month Online CD
4.20%	-	-	60 Month Online CD