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

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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 2.10% 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
2.85%
Min. balance for APY
$1
Length of term
5 years

at Barclays,

Member, FDIC

How does Barclays compare?

Barclays

Online Savings Account

NerdWallet Rating

APY

2.10%

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

2.15%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

2.10%

Monthly Fees

$0

Bonus features

Competitive APY

Live help 24/7

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
Excellent
Rates
Excellent
Fees
Low
Great experience so far!
I am a bit surprised by the negative reviews. I opened an account about 5 months ago and haven't had any issues. It was easy to open the account, the website has worked just fine, and they seem to take security seriously. The amount of emails they send is not any more or less than other financial institutions. I haven't had a reason to contact customer service yet, so I cannot speak to that. I appreciate that I was notified when the interest rate changed. Even though it was lowered, it is still one of the best out there.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
They are waiting for you to make mistake
Barclays is very money hungry and predatory company. They want you to make mistake so they can change you hefty interest and fees. Don’t get carried away with juicy offerers. I would rather do business with Wells Fargo, chase or capital one.
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