Advertiser Disclosure

Pros

$5 nonsufficient funds fee; many banks charge $30 or more
1.15% APY on savings, about the best you'll find

Cons

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

Overall

4.0

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

Savings

5.0

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 1.15% 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.

Online Savings Account
1.15%
APY
$1
Min. balance for APY
Learn moreat Barclays
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Overall
Customer service
Poor
Website / app
Fair
Rates
Good
Fees
High
no customer respect
When my funds transferred by another domestic bank Barclays insisted on holding them 5 days (most hold up to 3). I asked for a supervisor because I needed to open a CD IN THE SAME Barclays before travelling and was curtly told that one could call me back in 24-48 hours. Really?! why would i bank with Barclay's
Overall
Customer service
Poor
Website / app
Fair
Rates
Fair
Fees
High
Dismal Customer Service
After 10 years of on-time, full payments each month, my bank messed up and my auto. pay was late by a few days. Barclays charged me a $27 fee. After several communications, the bottom line is Barclays says they are unable to refund fees (not true, as we all know). Their response seemed automated and lacked any kind of customer concern. I enjoyed using the card for years, but if there's a problem, Barclays isn't on your side.
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