Barclays


Overview / Commentary
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.

Related Posts

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12/27/17 - Barclays Ups Online CD Rates, 5-Year CD Remains the Most Competitive
10/6/17 - Barclays Increases Online Savings Account Rate
10/6/17 - Barclays Online Savings Now 1.30%
10/3/17 - Barclays Ups 5-Year CD Rate and Two Short-Term CD Rates
7/25/17 - Another Savings Account Rate Increase at Barclays
7/25/17 - Barclays Online Savings Rate Increase
7/11/17 - Barclays Increases Online CD Rates
7/11/17 - Higher CD Rates
6/19/17 - Barclays Increases Online Savings Account Rate
6/19/17 - Another Rate Increase For The Online Savings Account
6/6/17 - Barclays Increases 1-Year and 2-Year Online CD Rates
5/16/17 - Barclays Raises Online Savings Account Rate
5/3/17 - Barclays Increases Rates on Most of Its CDs
4/5/17 - Barclays Raises 5-Year CD APY To 2.00%
7/11/16 - Barclays CD Rate Changes: 5-Year Falls But Shorter Terms Rise
7/8/16 - Barclays 5 Yr CD Now 1.75%
3/7/16 - Barclays 5 Yr CD Rate Drop
9/10/15 - Barclays 5 Year CD Back At 2.25% APY.
4/1/15 - Barclays Raises 2-Year Online CD Rate
12/15/14 - Barclays Online Savings Account Joins the 1% Club
8/1/14 - Barclays CD Early Out
4/3/14 - Barclays Raises 5-Year and 4-Year CD Rates
1/16/14 - Higher CD Rates at Barclays
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
3/16/13 - 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
1/2/13 - 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
5/7/12 - Barclays Officially Launches Its New Internet Bank
3/23/12 - New Internet Bank with Savings Account and CDs Launched by Barclays

Reviews (226)

Barclays Online Savings Rises To 0.70%

Posted by: |

https://www.banking.barclaysus.com/online-savings

Barclays Online Savings
A rate greater than 5x the national average¹
0.70% APY2

Transferred From Capital One 360

Posted by: |

  I had no problems opening the account and they have kept the rate at 1%.  They are not a primary financial institution and are good for higher yields on savings and CD's.  I use them to obtain the higher rates.  They do not have ATM access and I do all transactions by ACH and have never had any problems.  However if you need same day access to your funds this is not the bank for you.  This is a great place for your money if you want or need FDIC Insurance and dont need same day access.

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.

THIS IS REALLY SHOCKING.

Online Savings Account

Posted by: |

The OSA is advertised as "No minimum to open" but actually needs at least $1 to keep open.

In the Terms and Conditions for the Barclays Online Savings Account, one of the reasons listed under which they can close the account for any reason, without giving any notice, is:

"Maintaining an Account with a balance of less than $1.00 for a period of 180 days or more;"

What they don't tell you is if they close the account for this reason, it will be considered by the Fraud department, so you will NOT be able to reopen the savings account and CAN NOT open a new one. You do NOT have any means to appeal.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #57203
Year Established2001
Employees2877
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.65%
Return on Equity - YTD8.93%
Annual Interest Income$2.67B
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$29.42B$29.96B
LoansQ4 2021vs Q4 2020$20.64B$19.10B
DepositsQ4 2021vs Q4 2020$21.13B$22.45B
Equity CapitalQ4 2021vs Q4 2020$5.56B$5.32B
Loan Loss AllowanceQ4 2021vs Q4 2020$1.52B$1.81B
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$194.0MM$311.0MM
Real Estate OwnedQ4 2021vs Q4 2020$0$0
Rates
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Barclays Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.70%--Online Savings Account

Barclays CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%--60 Month Online CD
1.90%--36 Month Online CD
1.90%--48 Month Online CD
1.70%--24 Month Online CD
1.60%--18 Month Online CD
1.30%--12 Month Online CD
Locations

Barclays is an Internet only bank and does not have branch locations. Its headquarters is located at 125 South West Street - Wilmington, DE 19801

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.