at Barclays,

Member, FDIC

Pros

1.90% 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 1.90% 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
1.90%
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

1.90%

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

1.90%

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

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
Good
Rates
Poor
Fees
Low
APY Keeps Dropping
When I signed up for this, my APY was 2.40%. They've repeatedly lowered it without notifying me and now it's at 1.90%. My experience has been good other than that, though.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
Super Slow ACH
Told customer service I was paying off the balance and then taking another 1 year interest free loan (actually 3% fee but that's ok.) The agent told me I should just use ACH instead of the check I was planning to use. She told me on Tuesday the transaction would post by Wednesday or Thursday. The transaction showed on their website as closing on Sunday (?!) which is the day before a bank holiday. So, this ACH will take a week! Meanwhile, I've had high opportunity costs because the money wasn't available.
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