Best Savings Account Out There
I think a lot of these reviews are for the UK branch. The US does not have ANY credit cards / loans, so a lot of the reviews you see do not apply to the US Barclays account
I’ve had a dream account for 1.5 years now. I deposit between $500 - $1000 / month. The only downside is that $1000 is the monthly max, but as a student I rarely had the need to deposit more.
I use very few bank accounts - I have a checking account with Simple, a savings account with Barclays and a stock trading account with TD Ameritrade. This means 0 fees from any of those banks as far as money transfer goes. Its really fantastic !
Interests are high - they had the best interests for a long period of time, and when they were surpassed they matched their competitors. I also love how if I make consecutive deposits & no withdrawals I get a bonus 5% on my earned interest in the last 6 months. Overall I’ve had no issues with this process, and I was never charged any fees !
I only have 2 complaints: 1. There’s no mobile app, and while their website works fine on mobile, it never saves my device so I always have to use 2FA to login which can be frustrating.
- I used to have automatic deposits setup through Barclays, but for some reason when my Simple Bank restructured and gave me new account numbers, I wasn’t able to reset it up. Not a huge deal because Simple now has automatic transfers, but still a little bit frustrating.
Overall, I highly recommend Barclays for a savings account, especially their dream account ! If you’re simply looking to put money away, have incentive to keep growing and not do any withdrawals, there isn’t anything better out there
(PS: Ally Bank has 1.15% APY, just like Barclays, however they have no bonus for deposits & withdrawals, they have lots of fees and limits and their customer service is horrible. They ended up closing my account for no reason and refused to have any communication with me whatsoever, saying they were not allowed to talk with me anymore. As soon as Ally raised their APY to 1.15%, Barclays matched it.)