at Barclays,

Member, FDIC

Pros

2.05% 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 2.05% 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
2.05%
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

2.05%

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

2.05%

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

2.00%

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
DO NOT USE!!
TERRIBLE customer service. They blocked my account and would only release it if I MAILED my SSN, picture ID, and proof of address. Refused to accept information if it was submitted electronically or in person at the branch. Absolutely useless customer care representatives, who talk from a script and unable to use common sense. If you want a bank stuck in the stone age and enjoy wasting your time on hold, then by all means open an account with Barclays
Overall
Customer service
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
All good so far!
New customer, easy process to establish online account. Customer service is very responsive and professional. Same service with their credit card.
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