Barclays Bank has great Savings and CD account options that are very competitive in the market.
Barclays Bank is an FDIC insured London based institution founded in 1690. The bank, driven by its core values – respect, integrity, service, excellence and stewardship – now serves millions of clients across the world.
Americans have participated in its credit card program for several years and now can take advantage of their online savings accounts and certified deposits (CDs).
Barclays Online Savings Account Rate Offer (Nationwide)
One advantage of opening an online savings account with Barclays is the ability to link the account to three checking or savings accounts at other institutions. That means having the ability to withdraw or transfer funds between one bank to another from your computer or smartphone. It takes 2 to 3 business days to transfer the funds.
During one statement cycle, clients can withdraw funds up to 6 times without having to pay fees.
As soon as you deposit funds into the account, they start earning interest. You also have the option of direct deposit. Other pros of opening this account include:
- Barclays allows clients to have up to 25 accounts
- No requirement of minimum balance to open
- No limits on monthly deposits
- No monthly maintenance fees
While clients don’t have to worry about keeping a high balance, there are a few ways that one can incur fees.
- If you opt to receive your statements in the mail, you’ll pay $0.50 per statement.
- If you need the bank to send printed information, Barclays will apply an express mail fee of $15 to cover rush delivery.
- After making 6 transactions, each one afterward costs $5 to process via an excessive transaction fee.
- If you have non-sufficient funds, it also incurs a $5 fee per item. This rate is considerably low in comparison to places like Wells Fargo where clients are charged $35 per item.
Barclays Online CD Special Rates
Barclays offers fixed savings rates for its CDs. Similar to the online savings account, clients don’t have to worry about maintenance fees or keeping a minimum balance. Barclays actually has some of the best CD rates currently.
Clients can choose from nine term length options starting as short as three months and as long as five years. The longer length of time you choose, the higher APY rate.
30 days before your account matures, you’ll receive an email notification from Barclays. Once your CD matures, you can automatically renew your account at the current interest rate and APY in effect at the point of maturity or make a withdraw of your funds without penalties (14 day grace period).
Each month, clients are able to either keep the newly gained interest in their CD accounts or move those funds into an external account or Barclays Online Savings Account.
Barclays 60 Month Online CD
- Available nationwide
- Minimum for APY: $1
- Maximum for APY: –
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