Pros

$5 nonsufficient funds fee; many banks charge $30 or more
1.20% 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 1.20% 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
1.20%
APY
$1
Min. balance for APY
Learn moreat Barclays
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Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Poor customer service, stay far away!
I applied for a card with them and they denied on basis of wanting more information. They were very intrusive and asked for my home phone, mobile phone, work phone, and lots of other information. They treated me like I was unimportant as a customer and I knew I never should have applied. They have very rude customer service agents. They also said I had to send my documents of identity to them by snail mail and had no fax number or other method to send these. While overseas this is nearly impossible for me to send these as China post loses or steals important documents from the mail and I am not paying a huge amount to send my Fedex.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Ok
Moved to the US recently and had my app deleted. You can't reactivate mobile app unless you have a uk mobile number! They state in the app that you can log in with international phone number but you can't they also say you can call them to get activation code but it doesn't work. They are just missleading customers and have bad service. I couldn't even make a complain because they can't solve it so they don't register it I will close my acount with them asap !!
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