at Barclays,

Member, FDIC

Pros

2.00% 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

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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 2.00% 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
2.00%
Min. balance for APY
$0

at Barclays,

Member, FDIC

Online CD
APY
2.45%
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

2.00%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.00%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Citizens Access

Online Savings Account

NerdWallet Rating

at Citizens Access,

Member, FDIC

APY

2.00%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

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
Online Banking inaccessible
Since a few changes were made to Barclays Online Banking in August, I can't access it any more because my Internet browsers are "out of date". I can't download updates because my computer is "too old" (2008). To overcome this problem, I have to spend £1000+ to get me back where I was. I won't use a PC, only Macs are safe and usable enough. This is very unfair of Barclays, who have effectively abandoned me, a long-established customer, who can't get back in without spending a lot of my money.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
One Star is too kind
Very unprofessional. Unreliable, do not trust this company. Instant credit is a lie, I have spent the last three days on the phone trying to straighten out their mess. Even their own bank doesn't work with them. They also opened an additional account in my name without my consent or knowledge. Don't bother calling, they don't even know what they're doing.
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