Barclays is based in London and serves 48 million people worldwide. Its U.S. banking operation, which is only online, offers excellent annual percentage yields, but you’ll need to pair its services with another bank if you need a checking account because Barclays doesn’t offer that service.
If you value high savings rates, though, you may be able to overlook this limitation and a few others. Barclays also lacks a branch network and the latest technological features, so the bank is best suited for consumers who take a hands-off approach to saving money.
Ratings methodology | Updated May 5, 2017
With low fees and some of the highest interest rates around, Barclays is the bank to boost your savings. The Dream Account and Online Savings Account offer 1.20% APY and reward you for staying on track with savings. And there are few or no fees.
Whereas some banks charge pricey overdraft fees, Barclays has a $5 nonsufficient funds fee charged if a transfer or withdrawal would overdraw your account.