Barclays High Yield Savings

[gdale6]

Hi all,

Letting you know this is a joke of an account just like the Discover Savings is. ACH push deposits from a bank are held 5 business days before they become available. I told em yesterday that they can shove the savings and my last credit card with them. I also made mention that they are going down in the US since they cannot keep up with credit card offers and products that are useful and the lady began to argue with me, I just laughed at her and said you will be gone before you know it this isnt the UK and hung up the phone. After this I called US headquarters to report the conversation I had, they were all apologetic and tried to save me, didnt happen. I am already regretting canceling my Cap-1 Savings account, they did things right. I will never ever hold anything from Barclays again. 

[Anonymous]

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@gdale6 wrote:

Hi all,

Letting you know this is a joke of an account just like the Discover Savings is. ACH push deposits from a bank are held 5 business days before they become available. I told em yesterday that they can shove the savings and my last credit card with them. I also made mention that they are going down in the US since they cannot keep up with credit card offers and products that are useful and the lady began to argue with me, I just laughed at her and said you will be gone before you know it this isnt the UK and hung up the phone. After this I called US headquarters to report the conversation I had, they were all apologetic and tried to save me, didnt happen. I am already regretting canceling my Cap-1 Savings account, they did things right. I will never ever hold anything from Barclays again. 

Well, you might want to stay away from American Express and Marcus by Goldman Sachs High Yield Savings accounts.  Both of them hold ACH deposits for 5 business days; I've had my Marcus account hold one deposit for much more than 5 days.

Can't imagine why I'd want to argue with any customer service representative though; they aren't at the level where they can affect policy.

[DaveInAZ]

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@Anonymous wrote:

Well, you might want to stay away from American Express and Marcus by Goldman Sachs High Yield Savings accounts.  Both of them hold ACH deposits for 5 business days; I've had my Marcus account hold one deposit for much more than 5 days.

Can't imagine why I'd want to argue with any customer service representative though; they aren't at the level where they can affect policy.

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I haven't really noticed if Amex High Yield Savings holds my ACH deposits for 5 days but it well could be the case, when I send funds I have no plans for quick use. What I have noticed is that deposits start earning interest on the day I input to withdraw the funds from an external account, even though the funds aren't taken from my account until at least the next day, so I'm fine with their process.

And yeah, customer service reps aren't in a position to change any policy. I have two CCs with Barclays but wouldn't consider using them for savings.

[Anonymous]

I don't mind the incoming holds; it's earning interest already. That said, at least Discover I can transfer to checking to be available immediately whereas Barclays has no checking product.

[Anonymous]

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@DaveInAZ wrote:

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@Anonymous wrote:

Well, you might want to stay away from American Express and Marcus by Goldman Sachs High Yield Savings accounts.  Both of them hold ACH deposits for 5 business days; I've had my Marcus account hold one deposit for much more than 5 days.

Can't imagine why I'd want to argue with any customer service representative though; they aren't at the level where they can affect policy.

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I haven't really noticed if Amex High Yield Savings holds my ACH deposits for 5 days but it well could be the case, when I send funds I have no plans for quick use. What I have noticed is that deposits start earning interest on the day I input to withdraw the funds from an external account, even though the funds aren't taken from my account until at least the next day, so I'm fine with their process.

And yeah, customer service reps aren't in a position to change any policy. I have two CCs with Barclays but wouldn't consider using them for savings.

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Its a plus that interest begins accumulating from the date the transfer is done, but they certainly hold funds for 5 business days.  Just to make sure my mind wasn't playing tricks on me I just checked the Amex HYSA website and it states: 

Q: How long does it take to transfer funds FROM my external bank using the Personal Savings website? 

A: "On the day you initiate your transaction on the Personal Savings website, the amount will be reflected in your CURRENT Balance and will begin earning interest immediately. However, due to a mandatory holding period, the funds will not appear in your AVAILABLE Balance until the 5th business day* after the deposit is initiated. "

This is also done at Marcus by Goldman Sachs but in both cases its money I wouldn't need access to immediately so the 5 days holds don't bother me.

[Kforce]

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@gdale6 wrote:
Letting you know this is a joke of an account just like the Discover Savings is. ACH push deposits from a bank are held 5 business days before they become available.

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I push my funds from a credit union and the funds are available the next day. ( No Hold )

If I pull from Barclay's page, funds are shown, earn interest, but held for 5 days.

** My only thought is if your account is brand new maybe for the first month they have different safety times in place **

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