Advertiser Disclosure

Pros

$5 nonsufficient funds fee; many banks charge $30 or more
1.05% 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 high-yield Dream Account and Online Savings Account offer even higher rates -- 1.05% 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
1.05%
APY
$1
Min. balance for APY
Learn moreat Barclays
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Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Rubbish
I've applied for an account two years ago and I've been accepted, they even delivered the cards and everything. After a couple of days I received a closing account notification, with no reason explained. Now it ruins my credit score for having a bad average age of my credit accounts, and all that for no reason at all.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Loose a customer instead of $26 Dollars
I had an outstanding balance but yet they rather loose a customer than $26 For some reason my payment on line got return and they charged $26. I called to see if they could wave that fee but they did not care. I was never late, never loose a payment, paid all the high interest and they couldn't give up $26. I decided to pay all my balance and close my accounts, I will never do business with Barclay bank.
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