at Barclays,

Member, FDIC

Pros

1.70% 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 1.70% 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
1.70%
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

1.70%

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

1.70%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

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
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
zero stars
What ever you do never try to make an international wire transaction with this bank. My wire transfer on made on Nov. 14, 2019 has 'gone missing'. This is as of Nov. 26, 2019.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Terrible Account Opening and Customer Service Experience
Cumbersome account opening process if they can't immediately match your records, terrible user experience. Customer service was unhelpful and rude, completely unwilling to help or provide solutions. Would have been better talking to a robot. Was hopeful that based on the reviews that it would be worth it, but it is definitely not.
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