Barclays Bank is one of the world's largest international banking groups and financial institutions. Its current group structure derives from the core founding banks, namely the London-based Barclay and the North American Lehman Brothers, acquired in phases between 1990 and 1991.
Barclays Bank offers investment banking, retail banking, private banking, wealth management, mergers & acquisitions through Barclays Capital (formerly known as BZW Investment Banking Division), corporate lending and deposits, credit cards, mortgages, and personal loans for individuals. Its international presence has grown out of its acquisitions in Spain (2001), Portugal (2005), and many other countries. Barclays Bank is listed on the London Stock Exchange and another group member FTSE 100 Index.
Before deciding to become a customer of any financial institution, whether a bank, an insurance company or any other type of financial services provider, you must conduct your own research to ensure that they are right for you.
Why Is Barclays Bank Best for?
If you want high rates on savings or CDs without the need for an in-person visit, then Barclays is your best option.
Savings Accounts
Barclays provides all types of accounts for their clients, including savings accounts and so on. So every client can have the account that will best suit their needs.
The Barclays high-yield savings account offers a competitive annual percentage yield (APY) of 0.50%, which doesn't require minimum deposits or monthly fees at all. You can transfer funds electronically between other financial institutions and set up direct deposit into your account from employers/readable accounts holders if desired.
Credit Cards
Are you into shopping? Do you enjoy traveling? Are business trips part of your life? If yes, choose one of Barclays credit cards and start enjoying all the benefits!
Mortgages
If you decide to buy a house, don't hesitate to apply for a mortgage as Barclays provides such services too.
Loans
Every Barclays customer can apply for one of the offered loans and get the money they need in a brief period!
What Does Barclays Bank Offer?
Investment Banking
Barclays offers investment banking for companies and individuals: corporate finance advice, mergers and acquisitions advice, capital raising (IPOs and debt financing), restructuring advice, derivatives solutions, and research.
Retail Banking
The extensive branch network will serve the company's retail customers, which consists of over 1,600 branches across 40 countries. So no matter where you are at any point in time, you'll be able to make your banking transactions without visiting a bank personally or staying at home in front of your computer.
Personal Lending
You can borrow money from Barclays to finance anything you need, whether a car or a house renovation.
What are the pros of Barclays bank?
- It offers competitive rates for CDs and saving accounts.
- You will not need to deposit any minimum money or pay any monthly fee to open a savings or CDs account.
- The credit card offers good rewards.
- Overall, interest rates are competitive in the market.
- You can get high savings APYs.
What are the cons of Barclays bank?
- The bank has no branches for customers based in the US.
- The mobile apps of Barclays bank have low ratings by its users.
- They do not offer any checking accounts.
- You can only get personal loans by invitations.
- You get only a limited option for deposit products.
- You will have limited ATM access.
Customer Support
You may contact customer service for bank accounts at 1-877523480, 24 hours per day, 7 days a week. You can also send a message online or through the mobile app available on both iOS and Android devices. The deposit apps haven't proven very popular so far, but we still expect it will be helpful.
How to get started with a Barclays Bank account?
Opening an account with Barclays is easy and convenient. You can do so through the mobile app, online banking, or opening a paper application at one of their partner banks like American Airlines. Deposit funds into your savings account quickly using the remote deposit from that same app, where you'll also be able to view history as well as initiate transactions all straight from wherever you are.
Takeaway
Barclays Bank works in all areas of the financial industry, so every client can have the account that best suits his needs! They offer a wide range of services both for individuals and companies! The bank is also famous for its excellent service provided by well-trained employees. So feel free to apply for any Barclays product and enjoy your banking experience with them!
