Barclays Bank Review 2024
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Barclays Bank Review 2024
4 min read
T
By: Tyler Richards

About Barclays Bank

 

Barclays is a British multinational bank with headquarters in London, England, with its U.S. bank based in Delaware. The bank acquired Lehman Brothers' banking business during the 2008 financial crisis.

 

 

Featured Offers

Barclays Bank logo
Bank Grade
5.00% APY
12 Month Online CD
1 Year CD by Barclays Bank
Barclays Bank logo
Bank Grade
4.50% APY
18 Month Online CD
18 Month CD by Barclays Bank
Bank of Mead logo
Bank Grade
Top 1% rate
30.00% APY
3 Months CD
3 Month CD by Bank of Mead
Merchants Bank of Indiana logo
Bank Grade
Top 1% rate
5.92% APY
24 Month Flex Index CD
2 Year CD by Merchants Bank of Indiana
Merchants Bank of Indiana logo
Bank Grade
Top 1% rate
5.92% APY
12 Month Flex Index CD
1 Year CD by Merchants Bank of Indiana
Merchants Bank of Indiana logo
Bank Grade
Top 1% rate
5.92% APY
36 Month Flex Index CD
3 Year CD by Merchants Bank of Indiana
M1 Bank logo
Bank Grade
Top 1% rate
5.75% APY
10 Month CD
9 Month CD by M1 Bank
EagleBank logo
Bank Grade
Top 1% rate
5.60% APY
6-8 Month CD
6 Month CD by EagleBank
Forbright Bank logo
Bank Grade
Top 1% rate
5.60% APY
9 Month CD
9 Month CD by Forbright Bank

Barclays Bank Overview

 

Barclays Bank is an online-only bank that offers a number of different CD products with terms ranging from one to six years and one savings account. All products offer competitive yields with no fees and no minimum balance requirements. 

 

 

Competitive APYs.No ATM access/availability.
No monthly service charges.No checking accounts offered.
Unlimited withdrawals and transfers.Online-only bank.

 

 

Barclays Bank Product Offerings

 

CDs

A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period, known as a term. Barclays Bank offers several CDs with terms varying from one year to six years. All CDs offer competitive yields and no minimum balance requirements. Here are some of their best CD offerings for the month! and 2024:

Barclays Bank
6 Month Online CD
6 Month CD by Barclays Bank
Bank Grade
B+
APY
5.30%
Avg. user rating
1.73
Why we chose it?
What to watch for
Barclays Bank
12 Month Online CD
1 Year CD by Barclays Bank
Bank Grade
B+
APY
5.00%
Avg. user rating
1.73
Why we chose it?
What to watch for

Savings Accounts

Barclays Bank offers one high-yield savings account. The account does not require a minimum opening deposit, and there is no monthly service charge. Here are the latest savings account details for April 2024:

 

 

Barclays Bank
Online Savings Bank
High Yield Savings by Barclays Bank
Bank Grade
B+
APY
4.35%
Avg. user rating
1.73
Why we chose it?
What to watch for

Bank Fees

  • Overdraft fee: None; Overdrafts are not allowed

  • Savings and Money Market Account withdrawals: None

  • Account closure fee: None

  • Wire transfer fee: Not available

  • Non-network ATM fee: None

Barclays Bank Features

Barclays Bank's customer service line is available seven days a week from 8:00 a.m. to 8 p.m. EST. and on Saturdays from 8 a.m. to 5 p.m. EST. The bank offers a mobile app where customers can manage their accounts and process mobile deposits.

 

Barclays Bank FAQs

Is Barclays Bank a U.S. Bank
Does Barclays Bank use Zelle?
How do I open an Barclays Bank account?
Is it safe to bank with Barclays Bank?
Does Barclays Bank have a 24-hour customer service line available?
Does Barclays Bank have any branches?

 

Our Take

Barclays Bank is a good online-only bank that offers competitive yields on its CD and savings accounts. None of its accounts assess monthly service charges, there are no opening deposits, there are no minimum balance requirements, and there are no withdrawal or transfer limits. It is a good choice for customers who don't mind banking with an online-only bank with no ATM access. The lack of ATM access causes a slight delay in accessing funds, but the other features may make the bank's products worthwhile.

Methodology

 

Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.

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