Is Barclays a real bank?

Yes. Barclays is a real bank founded over 300 years ago.

Is Barclays Bank safe?

Yes. Barclays employs multiple layers of security to protect your money and your privacy. And it's a member of the FDIC, so your deposits are protected against bank failure.

Does Barclays charge fees for accounts?

Barclays does not charge monthly maintenance fees for accounts. Fees may be assessed for early withdrawal of a CD or other reasons.

How long will deposits made to a Barclays account be on hold?

Check and electronic deposits made to a Barclays Bank account will be held for five business days before the funds are available.

Does Barclays offer free money for signing up for an account?

Right now, Barclays does not have any account-opening bonus promotions, but it has been known to offer promotions in the past.

Is Barclays a good bank?

Yes. Barclays is a good choice for customers looking for a high-yield savings account or CD.

Why is Barclays better than other banks?

Barclays' savings and CD rates put it ahead of many other banks. Also, there's no minimum deposit for CDs, so you can open one with as much or as little as you'd like.

Advertiser Disclosure

Barclays Bank Review: Great Rates on Savings and CDs

Name: Barclays Bank Review: Great Rates on Savings and CDs
Item: Barclays Bank Delaware
Rating: 4.3

July 31, 2024

8 min Read

Written by Cynthia Bowman

Edited by Melanie Grafil

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

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GOBankingRates Score

Barclays Bank Delaware

4.3

SCORE

Quick Take: Barclays Bank offers only savings products: an online savings account and CDs. With no retail branches or ATMs, these accounts are a good place to stash some money that you want to keep separate from the rest of your accounts.

Savings Account

4.0
CD Account

5.0
Banking Experience

4.0

How did we calculate this?

Pros

Online savings account pays a higher APY than most competitors
Competitive CD rates
No monthly maintenance fees
No minimum balance requirements

Cons

Offers only savings accounts and CDs
Long hold time for check and electronic deposits

Barclays Bank Overview

Barclays Bank was founded in 1690 in London. The global bank offers retail banking, credit cards, wealth management, investment banking and corporate banking. In the United States, Barclays offers online retail banking for savings products.

The online banking business is based in Wilmington, Delaware. Barclays won a couple of GOBankingRates awards for 2023, and it’s a favorite for 2024 as well, earning a place among the Best CD Accounts.

Barclays Bank Review

Barclays has a lot to offer the right customer. Here’s a closer look at the features that earned Barclays a place in GOBankingRates’ Best Banks of 2024 rankings.

Savings Account

Barclays Online Savings is a high-yield savings account that offers a APY. There’s no minimum balance to open or maintain the account, and there’s no monthly maintenance fee.

Barclays gives you several ways to deposit funds into your Online Savings account. Once you’ve linked an account from another bank, withdrawing funds from your Barclays account is easy — an important consideration because Barclays doesn’t offer checking accounts or issue ATM cards. Barclays currently has no limit on the number and types of withdrawals you can make each month.

As of July 31, 2024, the bank also now offers Barclays Tiered Savings which allows you to improve your APY based on your balance amount. You can earn up to APY and there are no monthly fees or minimum balance requirements to open. Below is the balance breakdown for each tier:

Balance Amount Tier	APY
Less than $10,000
$10,000 to $24,999
$25,000 to $49,999
$50,000 to $99,999
$100,000 to $249,999
More than $250,000

Certificates of Deposit

Barclays Bank CDs are available in terms ranging from 12 to 60 months. The interest rates vary from for 60-month CDs to for 12-month CDs.

The Barclays CD made GOBankingRates’ Best CD Accounts of 2024 because there’s no minimum deposit to open the account and the interest rates are extremely competitive for most banks, including online-only institutions. You make deposits by transferring funds from the external bank account linked to your Barclays CD account.

Banking Experience

Here’s what you need to know about the banking experience Barclays offers.

Customer Service

If you’re having trouble setting up an account or have questions, customer service can be reached by calling 888-710-8756.

Accessibility and Branch Availability

Barclays doesn’t have any branches in the U.S. The bank is online-only in the U.S.

Digital Experience

Barclays Bank has a user-friendly website where you can review and manage your accounts. There’s also a mobile app that lets you deposit checks and transfer money from your external account. The app is rated 4.6 stars out of 5 on Google Play and 4.8 stars on the Apple App Store. Users have reported errors and usability issues with the app, however.

How To Open an Account

To open a Barclays CD or savings account, you’ll need to apply online, provide personal and contact information, including your Social Security number, and fund the account by entering your external bank account number and routing number.

How To Make a Deposit

There are four ways to make a deposit into a Barclays Bank account:

Transfer the funds from an external account into your Barclays Bank account, which requires that you first set up the external account and link it to your Barclays Bank account. This process can take several days.
Use Barclays Bank’s Deposit Checks feature through online banking or the mobile app. When you are logged in to your account, select the Deposit Checks tab. Enter the information about your check, and upload pictures of the front and back of the signed check. Then submit your deposit.
Set up direct deposit into your Barclays Bank account. To do this, you will need to provide your Barclays Bank account number and routing number — 031101321 — to the entity that is originating the direct deposit.
Mail a check to Barclays, P.O. Box 4538, Carol Stream, IL 60197.

Comparable Online Bank Options

When deciding where to bank, you have many choices. It makes sense to compare several options to find the one that’s best for you. Here are some competitors to Barclays Bank and how they stack up.

Ally Bank

Ally Bank earned the No. 1 spot in GOBankingRates’ Best Online Banks of 2024 rankings. It offers high interest rates on all banking products, including checking and money market accounts — both of which are account types Barclays doesn’t offer. Ally and Barclays are similarly competitive when it comes to savings and CD rates. For example, Ally’s one-year CD offers a APY, while Barclays’ one-year CD offers a APY.

Discover Bank, Member FDIC

Discover is another of GOBankingRates’ Best Online Banks of 2024. It offers a full selection of banking products, with savings and CD rates that rival Barclays’, plus credit cards, retirement accounts and loans. One thing lacking that Barclays offers is a savings tool. Barclays’ Savings Assistant can help you set and meet savings goals.

Final Take To GO

Barclays Bank’s U.S. offerings are limited. However, its rates, fees, accessibility and online platform stand out as its strongest aspects. The no-fee savings account with a competitive rate of is a large part of Barclays’ appeal, but its CDs are where it really shines.

The online platform is easy to use and makes it possible to open and fund a CD or savings account in minutes. Although a debit card isn’t available, transfers between banks are possible and easy to set up as alternatives to ATM withdrawals.

Barclays Bank is a good choice if you want to keep your savings or CD accounts separate from your checking account. And the fact that Barclays Bank has a large investment banking arm and worldwide presence bodes well for its long-term success.

Barclays Bank FAQ

Here are answers to some commonly asked questions about Barclays Bank.

Is Barclays a real bank?
- Yes. Barclays is a real bank founded over 300 years ago.
Is Barclays Bank safe?
- Yes. Barclays employs multiple layers of security to protect your money and your privacy. And it's a member of the FDIC, so your deposits are protected against bank failure.
Does Barclays charge fees for accounts?
- Barclays does not charge monthly maintenance fees for accounts. Fees may be assessed for early withdrawal of a CD or other reasons.
How long will deposits made to a Barclays account be on hold?
- Check and electronic deposits made to a Barclays Bank account will be held for five business days before the funds are available.
Does Barclays offer free money for signing up for an account?
- Right now, Barclays does not have any account-opening bonus promotions, but it has been known to offer promotions in the past.
Is Barclays a good bank?
- Yes. Barclays is a good choice for customers looking for a high-yield savings account or CD.
Why is Barclays better than other banks?
- Barclays' savings and CD rates put it ahead of many other banks. Also, there's no minimum deposit for CDs, so you can open one with as much or as little as you'd like.

Compare to Other Banks

Caitlyn Moorhead, Daria Uhlig and Karen Doyle contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 31, 2024.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To determine rankings for the Best CD Accounts, GOBankingRates looked at the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) 12-month CD APY; (5) 60-month CD APY; and (6) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighted 0.5 times, factor (3) was weighted 2 times, and factors (4) and (5) were weighted 4 times.