at Barclays,

Member, FDIC

Pros

2.20% APY on savings, among the best you'll find
$5 nonsufficient funds fee; many banks charge $30 or more for similar fees

Cons

No ATM network or branch locations for U.S. customers
No checking account
No cash deposits or withdrawals from ATMs

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Overall

4.0

London-based Barclays provides services to 48 million people worldwide. Its U.S. banking operation, which is only online, offers excellent annual percentage yields on savings accounts and certificates of deposit — but it doesn’t offer a checking account.

 

Barclays also lacks a branch network, so it’s best suited for consumers who prefer a hands-off approach to saving money. But if you value high savings rates, you might be able to overlook these limitations.

 

Ratings methodology | Updated May 31, 2018

Savings

5.0

With low fees and some of the highest interest rates around, Barclays is the bank to boost your savings. The Online Savings account pays 2.20% APY and has a tool for setting savings goals. There are no monthly fees or minimum balance requirements.

 

Most banks charge $30 or more for overdraft fees, but Barclays has only a $5 nonsufficient funds fee, charged if an online transfer would overdraw your account.

 

Want to see more options? Check out NerdWallet’s best high-yield online savings accounts

Online Savings Account
APY
2.20%
Min. balance for APY
$1

at Barclays,

Member, FDIC

Online CD
APY
3.10%
Min. balance for APY
$1
Length of term
5 years

at Barclays,

Member, FDIC

How does Barclays compare?

Barclays

Online Savings Account

NerdWallet Rating

at Barclays,

Member, FDIC

APY

2.20%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.25%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

2.10%

Monthly Fees

$0

Bonus features

Competitive APY

Live help 24/7

No Monthly Fee

Not for you? Read more bank reviews
NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
worst service ever
You have the worst customer service I ever ever encountered through any bank or credit card. You customer associates and managers are rude, disrespectful, and have no regard for customers. Your associates talk over customers and refuse to let them speak. They insinuate that they're lying and refuse to listen to them. They are absolutely disrespectful and unbelievably rude. I can't believe you think it is acceptable to talk to customers this way. We are people and deserve respect which your employees refuse to give. I had to spend over 5 hours solving issues that Barclays kept messing up. Nonstop errors and mistakes on their part which they refuse to fix and only make worse. On top of this, they try to blame customers and refuse to acknowledge their mistake. They arbitrarily deactivated my card and didn't tell me. Then sent a card with 10 day mail instead of 2 day when I had no other form of payment. When they finally sent it, they sent the wrong card and asked multiple times "are you sure you aren't confusing it with a another card?" "We definitely sent the right card". JUST ADMIT YOU MADE A MISTAKE. It is unbelievable to me that you can make this many mistakes and refuse to accept blame and just apologize. Instead, they try to place blame elsewhere and chalk it up to "confusion" instead of just accepting responsibility. Horrible horrible company. Horrible customer service. No respect for concern for customers at all.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Poor customer service
I cancell a payment and then made another payment to go to a different bank. They went ahead and took both payments. They refuse to stop one of the payment. They told me I had to go to my bank and stop payment. That would of cost me money. So they refuse to help.
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