@Anonymous wrote:
I have been setting up a CD ladder with Marcus by Goldman Sachs, to complement my high yield savings with them, but their minimum is $500 per CD and I wanted to set up some mini CDs with $100 in each to maximize my return and hide some money from myself. So, I tried to set up an account at Barclays...took so long for them to verify my external account that they closed the new CD, unfunded?!? Then when I tried to open a new CD (I figured why not, the account is already verified, should be simple enough) it threw up an error code and told me to call their 800#. Can it really be this difficult to give them money?!?
What a convoluted mess. I gave up and set up some CDs at Cap1 360. Waiting on verification of the external account now but they give 60 days for funding and verification so SURELY we can get these funded.
My experience with Barclays has been that the account verification can take a few days, but that's no better or worse than other banks or brokerages who do similar verification (E-Trade can take almost a week to link a new account, by way of comparison).
The good news is that once you've linked the accounts, setting things up and moving money around is actually pretty painless. Transfers between Barclays accounts are usually instantaneous, which should include your CDs.
It sounds like the way to go with Barclays is set up a savings account first, then fund CDs from that account.
