at Barclays,

Member, FDIC

Pros

1.80% APY on savings, among the best you'll find
No minimum opening deposits for savings or CDs
$5 nonsufficient funds fee; many banks charge $30 or more for similar fees

Cons

No ATM network and no branches for U.S. customers
No checking account
No cash deposits or withdrawals from ATMs

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Overall

4.0

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

 

Barclays also lacks a U.S. branch network, so it’s best suited for consumers who don’t require in-person assistance. But if you value high savings rates, you might be able to overlook these limitations.

 

Ratings methodology | Updated October 9, 2019

Savings

5.0

With low fees and strong rates, Barclays is a good bank to boost your savings. The Online Savings account pays 1.80% 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
1.80%
Min. balance for APY
$0

at Barclays,

Member, FDIC

Online CD
APY
2.20%
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

1.80%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

Personal Savings

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

1.75%

Monthly Fees

$0

Bonus features

Competitive APY

Live help 24/7

No Monthly Fee

Citizens Access

Online Savings Account

NerdWallet Rating

at Citizens Access,

Member, FDIC

APY

1.85%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Not for you? Read more bank reviews
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