at Barclays,

Member, FDIC

Pros

2.10% APY on savings, among the best you'll find
$5 nonsufficient funds fee; many banks charge $30 or more for similar fees

Cons

No ATM network and only 5 branch locations for U.S. customers
No checking account
No cash deposits or withdrawals from ATMs

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Overall

4.0

London-based Barclays provides services to 48 million people worldwide. Its U.S. banking operation, which is primarily online, offers excellent annual percentage yields on savings accounts and certificates of deposit — but it doesn’t offer a checking account.

 

Barclays also lacks an extensive U.S. branch network, 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 April 2, 2019

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 2.10% 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
APY
2.10%
Min. balance for APY
$0

at Barclays,

Member, FDIC

Online CD
APY
2.75%
Min. balance for APY
$0
Length of term
5 years

at Barclays,

Member, FDIC

How does Barclays compare?

Barclays

Online Savings Account

NerdWallet Rating

at Barclays,

Member, FDIC

APY

2.10%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Citizens Access

Online Savings Account

NerdWallet Rating

at Citizens Access,

Member, FDIC

APY

2.20%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

CIT Bank

Savings Builder

NerdWallet Rating

at CIT Bank,

Member, FDIC

APY

2.30%

Monthly Fees

$0

Bonus features

No Monthly Fee

Not for you? Read more bank reviews
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
Poor
Website / app
Poor
Rates
Poor
Fees
High
Will overcharge you
They do not properly post account balances and payments. They are still a headache for me. Paid off in full and had been on the phone with a rep who closed my account after paying in full and somehow I have debt in which they claim I never made the payment.
Overall
Customer service
Good
Website / app
Poor
Rates
Excellent
Fees
Low
Continious great rates, terrible online account management
I have been with Barclays for decades. Their interest rates are permanently higher than any other ones, and never 'fake', meaning they drop dramatically after they got you to sign up. However their website/online account is terrible. The worse example is that if you have 2 joint account holders, they send identical emails to each one of them, for every little task you do. So making 2 transfers each month and retrieving the statement will get you 10 emails, because once a month they want you to verify your personal information. So I used a temporary email, as said, their rates are the best.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.