Barclays Online Banking transfer limit is no more than 6 transfers or withdrawals to other accounts per reporting cycle at no charge.
This is a nice bonus, considering that some competitors offer tiered rates that increase as your balance increases or promotional rates expire after a certain amount of time.
$0 minimum deposit and no minimum balance requirement: With no minimum balance required to start or maintain your account, Barclays is the ideal choice for those who are starting to save.
A monthly maintenance fee of $0 and Low or no fees are normal for high yielding online savings accounts. This is one of the most important features for a prospective savings account, as fees can quickly wipe out interest income.
Highly rated mobile app: Mobile convenience is a must-have for online savings accounts. You can make free mobile check deposits and electronic transfers to your Barclays Online Savings account. Both iOS and Android apps have received high marks from users as well.
FDIC insured You are covered as much as $250,000 per depositor, per institution, in the event of a bank failure.
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Barclays Online Banking transfer limits are:
Not to exceed six withdrawals during the statement cycle is $5 per transaction.
Fees for making too many withdrawals are common in high-yield savings accounts, as federal restrictions limit customers to six withdrawals a month.
However, some high-yielding accounts do not charge account holders for excessive withdrawals despite this federal rule. If you anticipate frequent withdrawals, consider a different account type.
For example, you cannot currently open a checking account with Barclays. If you prefer to do all your banking in one place, you should look elsewhere.
ATM for withdrawal: Money can only be withdrawn by check or wire transfer to an external bank. This makes the process of removing your money from your Barclays Online Savings account a slow process that could take several days.
This means that most customers are less fortunate in terms of getting direct support or managing transactions at branches in their area.
How to access your money in Barclays Online Banking
There are several options for depositing or withdrawing money from a Savings account at Barclays Online
Deposit options at Barclays Online Banking
Funds can be deposited into your Barclays Online Savings account in one of the following four ways:
- Mobile deposit
- Direct deposit
- Electronic funds transfer
- Check sent
Barclays Online Banking withdrawal options
- Electronic funds transfer
- Check sent from Barclays
It can take two to three business days for money from your Barclays account to enter your external bank account via online transfer.
Barclays online savings account comparison
Here are some other online savings account options to consider.
A Barclays Online Savings Account is right for you if:
Those with high balances have the potential to earn the most with this account, although there is no minimum balance requirement.
That's the discussion about Barclays Online Banking transfer limits, hopefully it can help