I tried to pay a bill using my money and Barclay's held onto my money for more than a week. Why is it that banks can hold onto deposits for unreasonable periods of time when they are under $10,000 and are electronic transfers? What possible reason can they have to withhold money from me for longer than 3 business days? So not only could I not pay the bill, Barclay's charged me for "insufficient funds", and held my funds frozen so I couldn't take them out and pay them through my other bank.
Barclays [Redacted] London....ATM ate my card...not a great way to start a vacation.......went inside bank to ask for help and my new 2 best friends, thankfully were working that day...M. Hunter and H. Shah, saved the day for me, they contacted Bank of America, explained the problem, and after some time help came...they were so polite and sensitive to this slightly dazed woman....Barclays should be very proud of these fine employees, will definitely stop in the say hello next time I am in London, and Barclays is my bank while there
Predatory lender. Will not work with you in any way. 30% plus interest. With minimum payment would take 2384 years at a cost of $680,000.00 to payoff $3000.00. Get one of their credit cards at your peril. Absolutely criminal. If you are unable to pay the horrific monthly payment and default, they will sue you and pursue you relentlessly.
Been with this bank for a year for their online savings. Has been pretty good so far, no hiccups or hassles. I like their Security features. Working in IT, it's important to have extremely good online security now. These hackers around the world are getting smarter and it looks like Barclays is staying on top of it, but there's always room for improvement no matter who you bank with. Overall I would give them 4.5 stars out of 5, so far. Transfers are easy thru ACH, and don't take forever, and set up process is relatively quick. No faxing in stuff, signatures, credit checks, stuff going thru the Mail(except the welcome kit etc..) Everything is online, secure, fast. Good Bank.
At the time of this posting, the APY% on the online savings account at Barclays is 0.90% Not to bad. I signed up online in like three minutes. Funded it the next day and had no problem. If you are like me, you want a savings account that can at least earn "something" instead of peanuts. However, I don't like that if I had an emergency I would really be out of luck getting my money without a wire transfer which cost money and thus not a free account. I have nothing really bad to say about Barclay's but the hold time and EFT times take at least seven days. So after you initiate the transfer it will show up in the other account precisely 7 days later and then the 2-3 days the other banks lets you get access to you money. 10 days is crazy. I have called them about this and they said that is there standard time for them to transfer money. "Ridiculous!" So i emptied this account out. I also have a Sallie Mae MMA with the same 0.90%APR. You can also open a savings account with 0.85%APR (which you can do easily with the linked MMA as I did) The only difference was that Sallie Mae is that the MMA account with the same APR as Barclay's comes with checks. I had to dip into savings to get some emergency money out, so I did a phone deposit to myself and had the money minutes later since my other bank makes the mobile deposit money available immediately for withdrawal. "Great"
So for comparison, this savings account is similar to a PayPal account which takes about 7-11 days to get money transferred via EFT to an external account but the difference being PP has a debit card you can use to get money at an ATM. So if you can stand having you money in limbo for a week or more then the account is not bad, but if not then this is not for you. Also, the website is dated. It is simple enough to navigate, but it looks like it would be for a person in there 90's or a 2 year old. You can get a CapitalOne360 account for a little less but EFT's are done in 1-2 days.