Advertiser Disclosure

Pros

$5 insufficient funds fee; many banks charge $20 or more.
1% APY on savings, about the best you'll find.

Cons

No checking account.
No ATM network or branch locations.
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 online only, offers excellent annual percentage yields, but you’ll need to pair its services with another bank because Barclays doesn’t offer a checking account.

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 it’s best suited for those who take a hands-off approach to saving money.

Ratings methodology | Verified Feb. 9, 2017

Savings

5.0

With low fees and some of the highest rates around, Barclays is the bank to boost your savings. The high-yield Dream Account offers an even higher rate as a reward for staying on track with savings. At this bank you can expect few or no fees. You'll be charged $5 for transferring more money than is available from your account, but at other banks, this feature might cost more than $20.

Online Savings Account
1.00%
APY
$1
Min. balance for APY
Learn moreat Barclays
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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.
Overall
Customer service
Poor
Website / app
Poor
Rates
Good
Fees
Fair
Hard To Get Money Out
There withdraw transfer procedure fails almost 50 % of the time requiring you to call them several times to achieve getting your cash, delays of over 2 days are routine. No easy access to your cash. So if you NEED your money expect to wait a few days to get it from them. Not a good experience on several occasions and not worth the hassle for the little difference from local yields. What should be easy, a withdraw transfer or deposit seems to turn into a multi call nightmare as a matter of standard Operating procedure for Barclays. Time is money and chasing around with them to just do a standard transactions is a waste of time
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