Barclays Bank offers corporate and personal banking solutions with a range of available products, including bank accounts, personal loans and credit cards. If you’re in the market for a high-yield savings account or CD, Barclays could be a fitting option.
What banking products does Barclays bank offer?
Barclays’ range of bank accounts consists of personal savings accounts and CDs. It also offers personal credit cards and loans. You won’t find any business bank accounts at Barclays, but it does have business credit cards.
Personal banking
Barclays Online Savings. This high-yield online account offers a high 3.80% APY with no maintenance fees and no minimum deposit required.
Barclays Tiered Savings. An online account that offers a high-yield APY with qualifying balances. Similar to Barclays Online Savings, comes with no maintenance fees and no minimum deposit required.
Personal credit cards. Barclays offers a number of personal credit cards, including Barclaycard Arrival® Plus World Elite Mastercard®, Barclaycard Ring® Mastercard®, Barclaycard Visa, Miles & More® World Elite Mastercard® and Choice Privileges® Visa Signature® Card.
Business credit cards. If you need a credit card for your business, Barclays offers the AAdvantage® Aviator® Business Mastercard®, JetBlue Business Card and Hawaiian Airlines® Business Mastercard®.
Personal loans. Barclays personal loans offer funds of up to $35,000, with maximum loan terms of up to five years with an APR range of 4.99% to 20.99%.
The world’s first ATM
Barclays Bank in Enfield, England, unveiled the world’s first ATM on June 27, 1967 — which means the ATM is now more than 50 years old! The historic machine allowed withdrawals of £10 at a time.
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What is the Finder Score?
The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
We currently don't have that product, but here are others to consider:
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What is the Finder Score?
The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.
Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.
If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.
While big names like Wells Fargo, JP Morgan and Bank of America top out the list of the top 50 bank holding companies by deposits in the US, Barclays doesn’t make the cut.
In the UK, however, it’s a different story. While its offerings in the US are limited, Barclays is one of the largest financial institutions in the UK. In 2017, it reported over £66 billion in total equity and over £1 trillion in total assets.
Savings accounts
Pros
No fees. Open an online savings account with Barclays and watch your savings grow with no associated maintenance fees.
Competitive APY. Get a competitive 3.80% APY with the Barclays online savings account. That’s much higher than the national average rate of
0.41% APY.
No minimum or maximum deposit requirements. You can keep as little or as much money in your savings account as you’d like.
Cons
One account option. Barclays only offers an Online Savings account.
Five-day hold on deposits. All deposits are held for five business days before being credited to the account. But you’ll still earn interest for these days.
CDs
Pros
No hidden fees. You won’t pay anything to open or maintain this account and early withdrawal fees are clearly outlined in the account agreement.
Flexible terms. Barclays CD terms range from six to 60 months, so you’re bound to find a term that’s right for you.
Cons
Early closure penalty. If you withdraw funds from your Barclays CD before the term is up, you’ll be hit with an early termination fee.
Overall banking
Pros
Mobile check deposit. Deposit a check with your phone, tablet or personal computer by using the mobile check deposit feature of your online Barclays account.
24/7 customer service. Even though Barclays is an online bank, you can reach customer service at any time.
Cons
No ATM or debit cards. Barclays’ online banking products don’t come with debit cards or access to ATMs.
No cash deposits. This bank operates entirely online, so you can’t deposit cash or visit a local branch for in-person support.
Limited product selection. Barclays only offers two savings account and one type of CD. If you’re in the market for a checking account or want to keep all your accounts at the same bank, you’ll want to look elsewhere.
Barclays Bank ratings, reviews and complaints
Barclays Bank is insured by the FDIC and receives an Outstanding CRA rating. It’s also an accredited business with the Better Business Bureau (BBB), which gives it an A+ rating for its handling of 1,490 complaints during the past three years. But according to nearly 200 customer reviews on the BBB’s website, Barclays earns an average rating of 1.05 out of 5 stars. (The lowest possible rating on the BBB’s website is 1.00.) Many of the complaints mention negative experiences with the bank’s customer service.
On the Consumer Complaint Database, a whopping 3,515 complaints are about Barclays credit cards, while only 172 mention its personal savings products.
Bottom line
Like any other financial provider, an account with Barclays Bank has its fair share of perks and drawbacks. You’ll get mobile banking, no fees and high interest rates, but be prepared for limited transactions and no debit card or ATM access.
Common questions about banking at Barclays
Barclays’ routing number is 031101321 and its SWIFT code is BARCUS33.
Barclays Bank personal loans are currently available by invitation only. Should you receive an invitation for a Barclays personal loan in the mail, visit the website on your invitation to begin your loan application.
Yes, you can set up direct deposit on your Barclays online savings account by providing your external account with your Barclays routing number and the number of your Barclays savings account.
You can contact customer care by calling 888-710-8756 from 8 a.m. to 8 p.m., seven days a week. Or send Barclays an email by completing the secure online form for a reply within one or two business days.
Shannon Terrell is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in personal finance. Her writing and analysis on investing and banking has been featured in Bloomberg, Global News, Yahoo Finance, GoBankingRates and Black Enterprise. She holds a bachelor’s degree in communications and English literature from the University of Toronto Mississauga. See full bio
's expertise
has written 86 Finder guides across topics including:
Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University. See full bio
Get competitive rates on CD term lengths from 3 to 60 months. There are almost no fees, and the bank can help you set up a CD ladder for flexible access.
Get a high-interest rate with no maximum balance or monthly fees with a Barclays Online Savings Account.
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