London-based Barclays provides services to 48 million people worldwide. Its U.S. banking operation, which is only online, offers excellent annual percentage yields on savings accounts and certificates of deposit — but it doesn’t offer a checking account.
Barclays also lacks a branch network and the latest technological features, 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 Nov. 30, 2017
With low fees and some of the highest interest rates around, Barclays is the bank to boost your savings. The Online Savings account pays 1.40% 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