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 and only 5 branch locations for U.S. customers
No checking account
No cash deposits or withdrawals from ATMs

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Overall

4.0

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

 

Barclays also lacks an extensive U.S. 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 April 2, 2019

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
3.00%
Min. balance for APY
$1
Length of term
5 years

at Barclays,

Member, FDIC

How does Barclays compare?

Barclays

Online Savings Account

NerdWallet Rating

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

HSBC

Online Savings Account

NerdWallet Rating

at HSBC,

Member, FDIC

APY

2.30%

Monthly Fees

$0

Bonus features

Competitive APY

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
Be away from this bank. Horrible fees and customer service.
I opened this account for only 1 day then I closed it. The customer service is weird and does not understand anything about the service. Be awaaaaay.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Horrible Services Scammers
lem: I went to Mexico was considering joining their home owners vacation program which was to take over my Las Vegas timeshare Well it was all a scam I got back to Las Vegas they México I played email a few times inquiring as to our membership which someone in Mexico told us not to pay so they would force LV to sell well 8 months later we couldn’t get ahold of anyone I reach out to the young man who sent us to the presentation he said he was no longer in that scam and to get my money back I tried for a few more months to get ahold of someone in Mexico and once I realized it was a scam I called RCI AKA Barclays the processing center 866 951 1433 they filed a dispute put the money back in my account I had a surplus of $180 which I then a month later called them to request a check deposit Only to find out they had reversed the charge so I let it go and today I see in the news Homeowners places in Mexico are stiffing Americans so I want to come forth I had filed a complaint before and never heard back so now in order for own legal team to take this case they must have me go tru the BBB process so please regule complaint against both companies and I am not filing any legal against company until this process is done So please don’t ignore my request
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.