Barclays has launched an online high-yield savings account and certificate of deposit (CD) in the US.
Consumers can now earn one of the highest interest rates in the country by opening a new FDIC-insured online savings account or CD with Barclays at barclaysus.com/deposits (new window).
Barclays offers an intuitive online experience which makes it easy for consumers to open an account; deposit funds or cheques remotely via ACH bank transfers, PC scanners or smartphones; view account balances; and link to deposit accounts at other financial institutions in the US.
There is no minimum deposit to open a savings account and no minimum monthly maintenance fees. CD terms range from three to 60 months.
Steve Carp, Managing Director of Deposits for Barclays in the US, said: “Globally, Barclays puts a priority on simplicity and transparency. We’re bringing this approach to US consumers by making it easy to open and manage the new Barclays savings account and CD online.
“Just as important, the new high-yield account from Barclays delivers market-leading interest rates. With these new products, consumers can now enhance their financial well-being with a safe and secure partner.”
Barclays recently commissioned Harris Interactive to conduct an online survey among 2,200 adults in the US to understand consumer sentiments about savings accounts.
The survey found that 70% of Americans who have a savings account said savings interest rates are important to them, and the same percentage said they are not at all satisfied or only somewhat satisfied with their current savings account interest rate.
In addition, 58% said they would consider opening or switching to an online-only savings account if it offered consistently higher rates.
The survey revealed some interesting statistics on consumers’ saving behaviours and sentiments:
- A majority of US adults consider themselves ‘savers’ (62%) instead of ‘spenders’ (38%)
- 80% of U.S. adults said they are currently able to save money right now, though 6% of those who are able to save said they are not currently saving money
- Of those who are able to save, 49% said they save money for emergencies – a figure higher than those who are saving for retirement (43%)
- Other reasons for which people are currently saving money include vacation/recreational spending (37%); major purchases, such as a home or car (30%); medical expenses (15%); family life cycle events, such as a baby or wedding (12%); or other reasons (8%).
Steve Carp added: “The survey underscores for us that the new savings products from Barclays are aligned with what consumers care about.
“By providing an attractive rate with an easy to use online system, we deliver a product that can help consumers meet their goals.”
The products are offered by Barclays Bank Delaware, a subsidiary of Barclays PLC.
Barclays online savings accounts and CDs are backed by more than 300 years of history and global banking expertise trusted by more than 48 million customers and clients globally.
The Barclays US savings accounts are fully FDIC-insured and protected by the highest levels of account security.