It has only been a few weeks since the UK-based, Barclays Bank, began offering FDIC insured deposits and savings accounts here in the United States (through their Delaware headquarters) however, they now have a full suite of online savings products – many of which are offering fairly exceptional yields.
Although their primary business operations are based in London, they now have offices here in the United States and can accept deposits from American consumers nationwide through their website. Compare Barclays rates vs. other online banks here.
Barclays Bank Online CD Rates (2012):
(Barclays Bank requires no minimum deposit on any of their savings products)
- 6 month CD yielding 0.55% APY.
- 12 month CD yielding 0.90% APY.
- 3 year CD yielding 1.40% APY.
- 5 year CD yielding 1.75% APY.
Their online savings account is featuring the highest APY when compared to the national average. As of May 2012, Barclays online savings account is providing an APY of 1.00%.
As we mentioned in our review of Barclays when they launched their CDs and savings accounts last month, Barclays has a decent assortment of features associated with their accounts. Our personal favorite is remote check deposit. Barclays customers can cash checks on the go via their smart phone (so long as its got a camera and internet connection). Remote deposit is the number 1 most desired feature in mobile banking this year!
Have you opened a Barclays savings or deposit online? If so, let others know what you think by leaving a comment!