Read on to find out more about one of the UK’s ‘big four’ banks.
Barclays is a British multinational banking and financial services company headquartered in London.
Read on to find out all there is to know about Barclays, and whether it might be the right bank to suit your financial aims.
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A bit more about Barclays
Barclays can lay claim to many landmark moments in modern UK banking. They introduced the first credit card in 1966, the first cash machine a year later, the first debit card in 1987, and most the first contactless card in 2007.
As one of the UK’s ‘big four’ banks, they offer services to cover all financial needs. Check out our tables and compare the accounts Barclays has to offer.
What current accounts does Barclays offer?
Barclays currently offer two different current accounts:
- Barclays Bank Account. This account can be opened online. It offers flexibility and customisability, and is Barclays standard current account.
- Premier Current Account. If you pay an annual gross income of £75,000+ into one of these account, you get an exclusive service (including individualised customer service, Premier Rewards and benefits).
What savings accounts does Barclays offer?
Barclays currently offer one savings account for adults:
- Everyday Saver. This account can be opened from £1, offering instant access to cash via online, mobile and telephone banking.
What about cash ISAs?
Barclays currently offer three different cash ISAs:
- Instant Cash ISA. Take advantage of tax-free savings of up to £20,000 – with full access to your money.
- 2 Year Flexible Cash ISA. This account offers a fixed rate of return (0.75% for 2 years), with some access.
- Help to Buy ISA. Help with saving towards your first home.
Does Barclays offer any student or graduate accounts?
Barclays currently offer three different accounts for students and graduates:
- Student Additions Account. Apply for an overdraft of up to £3,000 over the course of your studies.
- Student Additions Account (International) This account is the same as the one above, but for students that have arrived in the UK to study.
- Higher Education Account. This account bridges the gap between your studies and new life, with overdraft options as well as cashback and rewards.
Does Barclays offer any savings accounts for children?
Here are the two children’s savings accounts on offer with Barclays:
- Children’s Saver. This account is open to any child under 18, offering 1.51% AER.
- Children’s Regular SaverSavings Account. This account is open to any child under 16, offering 3.5% AER. Save between £5 and £100 per month by standing order over 12 months.
They also offer the following current accounts for young people:
- BarclayPlus. An account for 11 to 15 year olds, ready to open with just £1.
- Young Person’s Account. An account for 16 to 19 year olds, allowing you to save, spend, and enjoy your money the way you want.
Is it easy to switch to Barclays?
Barclays offer a ‘Switch Guarantee‘, which simply means it will make the switchover as painless as possible. If you visit a branch they will be able to help you with:
- Transferring your payments from your old account (such as Direct Debits and Bill payments)
- Transferring any balance from your old account
- Closing your old account
They aim to have this all done within 7 working days.
How do I decide which account is for me?
You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?
You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:
- Interest rates
- Fees (if there are any)
- Access to cash (if you need quick access for instance)
- Rewards and loyalty schemes (if you’re into the add-ons or switching bonuses)
Other savings accounts similar to Barclays
Does Barclays offer online or mobile banking?
Yep, it offers both. Here are some of the basic features:
- Check balances. For any type of account.
- Transfer money between accounts. In a matter of seconds.
- Pay bills and people. All within the online portal.
- All of those features. On the go.
- Barclays Pingit. Pay friends as simply as sending a text.
What are the benefits and drawbacks of banking with Barclays?
- Online and mobile Banking. The Barclays app makes it simple to keep an eye on your finances.
- Flexibility. Barclays does offer a wide range of accounts for any sort of financial need.
- Better rates elsewhere? Rates are pretty poor right now across the board, but you might be able to squeeze a slightly better rate from other providers. (Depending on your needs!)