Barclays does not offer traditional checking accounts to U.S. customers

Barclays, a major international bank, stopped offering personal checking accounts to customers in the United States in 2012. If you have an older Barclays checking account, you may still use it, but Barclays is no longer opening new personal checking accounts for U.S. residents.

The bank does offer other products in the U.S., including savings accounts, certificates of deposit (CDs), and online savings products through Barclays Bank Delaware. However, these are not checking accounts — they do not come with a debit card or the ability to write checks.

If you are looking for a checking account and were considering Barclays specifically, you will need to look at other banks. Understanding why Barclays made this choice and what alternatives exist can help you find the right account for your needs.

Key Takeaways

  • Barclays stopped opening new personal checking accounts for U.S. customers in 2012 and does not currently offer them.
  • Existing Barclays checking account holders can continue to use their accounts, but cannot open new ones.
  • Barclays does offer savings accounts and CDs through Barclays Bank Delaware, which are different products from checking accounts.
  • Other banks — both large national banks and smaller regional or online banks — offer checking accounts to U.S. residents and may better match your needs.

What Barclays offers instead of checking accounts

Barclays Bank Delaware operates a savings account product that you can open online. This account earns interest on your balance, but it does not include a debit card, checks, or the ability to make payments directly to merchants. You can transfer money in and out, but the account is designed for saving rather than everyday spending.

The bank also offers certificates of deposit (CDs), which are accounts where you deposit money for a set period — typically three months to five years — and receive a fixed interest rate. You cannot withdraw the money early without a penalty, so CDs work best if you have money you will not need to access when ready.

If you already have a Barclays checking account from before 2012, you can keep using it. Barclays will not close it, and you can continue to write checks and use your debit card. However, you cannot open a new one, and if you close your account, you cannot reopen it.

Why Barclays left the U.S. checking account market

Barclays decided to exit the personal checking account business in the United States as part of a broader shift in strategy. The bank wanted to focus on other products and markets where it believed it could compete more effectively. This was not unique to Barclays — several large international banks have made similar decisions over the past 15 years.

The U.S. checking account market is highly competitive, with thousands of banks and credit unions offering similar products. Barclays determined that it could not build a large enough customer base to make the business profitable, so it chose to stop opening new accounts and eventually phase out the product.

Where to look for a checking account instead

If you need a checking account, you have many options. National banks like Chase, Bank of America, and Wells Fargo offer checking accounts at thousands of branches across the country. Regional banks operate in specific states or areas and may offer accounts with lower fees or better customer service for local customers.

Online banks — such as Ally, Charles Schwab, and Discover — offer checking accounts entirely through the internet, with no physical branches. These accounts often have lower fees and higher interest rates on balances because the bank does not have to pay for branch locations.

Credit unions are member-owned financial institutions that often offer checking accounts with lower fees and more personalized service than large banks. You can find a credit union near you through the CO-OP Network or by searching your employer's benefits information — many employers partner with specific credit unions.

What to consider when choosing a checking account

When you are comparing checking accounts, look at the monthly fee (if any), the minimum balance required to avoid fees, and whether the bank pays interest on your checking balance. Some accounts are free with no minimum balance, while others charge $10 to $15 per month if you do not maintain a certain amount of money in the account.

Consider how you plan to use the account. If you need to deposit cash frequently, a bank with physical branches near you may be more convenient than an online-only bank. If you rarely use branches and prefer managing money on your phone, an online bank might save you money and offer better rates.

Check whether the bank is insured by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance protects your money up to $250,000 if the bank fails. Nearly all banks and credit unions carry this insurance, but it is worth confirming before you open an account.

If you currently have a Barclays checking account

If you opened a Barclays checking account before 2012 and still use it, you can continue to do so without any changes. Your account will work the same way it always has, and Barclays will not close it or force you to move your money.

However, if you close the account for any reason, you will not be able to reopen it with Barclays. If you are thinking about closing your account, consider whether you want to keep it open as a backup, or whether you are ready to move all your banking to another institution.

When you do decide to switch banks, the process is straightforward. You can open a new account at another bank, set up direct deposit with your employer or benefits provider to send money to the new account, and then close the Barclays account once you have confirmed that all your regular payments and deposits are working correctly.

Frequently Asked Questions

Can I still use my existing Barclays checking account?

Yes. If you opened a Barclays checking account before the bank stopped offering them in 2012, you can continue to use it indefinitely. Barclays will not close it or change how it works. However, if you close it, you cannot reopen it.

Does Barclays offer any accounts with a debit card?

No. Barclays' current U.S. products — savings accounts and CDs — do not include debit cards or check-writing ability. If you need a debit card or the ability to write checks, you will need to open an account at a different bank.

Are Barclays savings accounts FDIC insured?

Yes. Barclays Bank Delaware is FDIC insured, which means your money is protected up to $250,000 if the bank fails. This applies to both savings accounts and CDs offered through Barclays.

What is the difference between a checking account and a savings account?

A checking account is designed for frequent transactions — you can write checks, use a debit card, and set up automatic payments. A savings account is designed for storing money and earning interest, with limited ability to make transactions. Barclays offers the second type but not the first.

How do I move my money if I want to close my Barclays account?

Open a new checking account at another bank, then contact Barclays to transfer your balance or withdraw your money. You can also set up direct deposit with your employer to send future paychecks to the new account. Once everything is switched over, you can close the Barclays account.