Pros

1.40% APY on savings, about the best you'll find
$5 nonsufficient funds fee; many banks charge $30 or more for similar fees

Cons

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

Overall

4.0

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

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 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

Online Savings Account
1.40%
APY
$1
Min. balance for APY
Learn moreat Barclays
Online CD
2.45%
APY
$1
Min. balance for APY
5 years
Length of term
Learn moreat Barclays
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
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
Never a problem.
Have an LL Bean credit card and love it. The people at Barclay are nice, knowledgeable, never rude. And interest rates are far better than most.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
OMG DON'T DO IT!!!
Okay so on 12/4 I opended up a savings and transferred 150.00 into that account while on 12/6 they want and decided they was going to take another 150.00 without constant, I called and spoke with a women who stated that they were having issues with there system and that she would have the money put back into my account with 24 hours. The next day came nothing there so I called back and asking why my money was not in there yet and that I wanted to speak to a manager the lady placed on hold and came right back and said oh theres no manager st this time open okay I'll wait she said you will be waiting along time ohhh okay and she started laughing n ststed someone would call me back. Next day nobody has called me not even a manager. It's now 12/8/17 still my 300.00 is not in my account and to top it off they took that extra 150.00 and my car payment got returned like really.They never said sorry or nothing. I want in and tired to transfer the myself and they placed it on hold. I am so angry.
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