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finder.com’s rating: 4.6 / 5.0
★★★★★
The Barclays Savings account hooks savers in with a competitive 3.40% APY and no monthly fees or minimum balance requirements. But as with most online accounts, it doesn’t accept cash deposits and the only way to withdraw money is with an electronic transfer.
3.40%
APY
$0
Fee
$0
Minimum deposit to open
Annual percentage yield (APY) | 3.40% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Minimum balance to earn interest | $0 |
Interest compounding | Daily |
Fee per transaction over the limit | $4 |
More info | Go to site |
Review by
Kelly Waggoner is US editor-in-chief at Finder. She works with a talented team of expert writers and editors focused on helping readers to save money, earn money and grow their wealth. She joined Finder in 2016 as an editor, germinating the site from money transfers to include the wide scope of personal finance. She's worked with publishers, magazines and nonprofits throughout New York City to develop best practices around editorial, SEO, plain language and accessibility. She also ghostwrote a how-to on copyediting for the Dummies series. Between projects, she toys with words, flips through style guides and fantasizes about the serial comma’s world domination.
The Barclays Savings account is best for those looking for a no-frills savings account that earns a competitive 3.40% APY and has no monthly maintenance fees or minimum deposits.
To note, the account made it on two Finder best lists. It was named “Best online savings account for no minimum balance requirements” and it’s also one of the top 15 high-interest savings accounts for its low fees and competitive interest rate.
But it doesn’t come with any fancy features and as with most online savings accounts, it lacks cash deposits, so you’re limited to electronic fund transfers among linked accounts.
Open a Barclays Savings account in six simple steps:
To qualify for the Barclays Online Savings Account, you must meet these eligibility requirements:
You’ll need to provide this information when you open this account:
The Barclays Online Savings Account offers a handful of key features that can help you save:
The Barclays Savings account has several benefits. But like most savings accounts, it doesn’t come with an ATM card for cash withdrawals. Keep these other factors in mind:
If you make a lot of cash deposits, keep looking. Consider some of the best high-interest banking options when choosing a savings account.
Michael Koh
Data Analyst
One of the first things I looked into when I started my career was a high-interest savings account. I ended up going with Barclays because of name recognition and mostly glowing reviews on Reddit. I’ve had to call them a couple of times and found their customer service to be helpful and courteous.
Security is extremely important to me, and Barclays does a thorough job with that, offering two-factor authentication and Touch ID on their mobile app. Speaking of the app, it makes transferring money between accounts a breeze, and you can set up multiple savings accounts under your primary Barclays account. The fact that their APY has doubled in the past year doesn’t hurt either.
See how Barclays Savings account compares to the competition. Sort the table by key features and enter a deposit amount to calculate potential interest earnings.
The Barclays Online Savings account offers several deposit and withdrawal options:
There are two ways you can get in touch with Barclays customer service:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.