Second, we also include links to advertisers’ offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. Here’s how the Barclays accounts and the Marcus by Goldman Sachs High-Yield Online Savings Account and Marcus by Goldman Sachs High-Yield Certificates of Deposit compare on selected savings products: When comparing Barclays and Marcus by Goldman Sachs, the two banks offer nearly identical rates on savings accounts and comparable rates on some CD terms. If you want to consolidate your banking to one institution, you’d likely choose a different bank because Barclays doesn’t offer a checking account in the U.S. For example, you might like Barclays’ savings account APY yet also need a checking account. When considering any bank or credit union, it’s important to consider the features and products you need versus those offered by a bank. When comparing the best CD rates available, Barclays remains competitive for all terms ranging from one to five years. While the rates might be worth the effort, these extra steps could make Barclays less attractive.īut people who want an online bank that pays competitive APYs on savings and CDs should consider Barclays US Savings.īarclays tends to be competitive with some of the best rates available for savings accounts and CDs.Ĭompared to the APYs available from the best online savings accounts, Barclays is near the top of the list with a healthy 4.35% APY. Customers also need to have an existing bank account at another bank to be able to fund their Barclays accounts. You won’t find these types of accounts from Barclays at this time. This may not be an issue if you’re comfortable with banking online, but if you want the convenience of local bank branch support, Barclays is likely not the best fit.īarclays also likely won’t be the best choice if you’re looking for a full-service bank that offers a multitude of banking options, like checking and money market accounts. As a result, customers are limited in how they can withdraw funds.īarclays’ customer support is accessible by phone 8 a.m. Since it’s an online-only bank in the U.S., Barclays has no physical branches or ATMs. If you’re ready to commit your cash to a CD with a term of at least one-year, you’ll find that Barclays has among the highest rates currently available. Its savings account APYs are competitive with other online banks, making Barclays a good place to keep an emergency fund or save money for specific goals.īarclays CD APYs are also competitive compared with the best CD rates. If you’re looking for an online bank that offers excellent APYs, Barclays US Savings deserves a chance. Barclays Online Savings and CD accounts are designed to promote savings and not be used as everyday banking accounts. Barclays US Savings also doesn’t provide ATM cards, which means customers can only withdraw funds by electronic transfer to external bank accounts. So if you want your mobile banking app to be more comprehensive, Barclays may not be the right choice.īarclays US has no physical branch locations in the United States, which means most customers are out of luck if they want help locally. Customers have reported concerns about the app’s limited features and functionality. The Barclays US Savings app doesn’t have great ratings. You can also access your account balances and make one-time transfers using the Barclays app. Customers can make deposits by taking photos of the front and back of their checks and uploading them via the app. Available on iOS and Android, the app supports mobile check deposits. Barclays customers can access their accounts through the Barclays US Savings mobile app.
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