Barclays savings accounts

Read on to find out more about one of the UK's 'big four' banks.

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Barclays

Barclays is a British multinational banking and financial services company headquartered in London.

Read on to find out all there is to know about Barclays, and whether it might be the right bank to suit your financial aims.

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A bit more about Barclays

Barclays can lay claim to many landmark moments in modern UK banking. They introduced the first credit card in 1966, the first cash machine a year later, the first debit card in 1987, and most the first contactless card in 2007.

As one of the UK’s ‘big four’ banks, they offer services to cover all financial needs. Check out our tables and compare the accounts Barclays has to offer.

What current accounts does Barclays offer?

Barclays currently offer two different current accounts:

  • Barclays Bank Account. This account can be opened online. It offers flexibility and customisability, and is Barclays standard current account.
  • Premier Current Account. If you pay an annual gross income of £75,000+ into one of these account, you get an exclusive service (including individualised customer service, Premier Rewards and benefits).

What savings accounts does Barclays offer?

Barclays currently offer one savings account for adults:

  • Everyday Saver. This account can be opened from £1, offering instant access to cash via online, mobile and telephone banking.

What about cash ISAs?

Barclays currently offer three different cash ISAs:

  • Instant Cash ISA. Take advantage of tax-free savings of up to £20,000 – with full access to your money.
  • 2 Year Flexible Cash ISA. This account offers a fixed rate of return (0.75% for 2 years), with some access.
  • Help to Buy ISA. Help with saving towards your first home.

Does Barclays offer any student or graduate accounts?

Barclays currently offer three different accounts for students and graduates:

  • Student Additions Account. Apply for an overdraft of up to £3,000 over the course of your studies.
  • Student Additions Account (International) This account is the same as the one above, but for students that have arrived in the UK to study.
  • Higher Education Account. This account bridges the gap between your studies and new life, with overdraft options as well as cashback and rewards.

Does Barclays offer any savings accounts for children?

Here are the two children’s savings accounts on offer with Barclays:

  • Children’s Saver. This account is open to any child under 18, offering 1.51% AER.
  • Children’s Regular SaverSavings Account. This account is open to any child under 16, offering 3.5% AER. Save between £5 and £100 per month by standing order over 12 months.

They also offer the following current accounts for young people:

  • BarclayPlus. An account for 11 to 15 year olds, ready to open with just £1.
  • Young Person’s Account. An account for 16 to 19 year olds, allowing you to save, spend, and enjoy your money the way you want.

Is it easy to switch to Barclays?

Barclays offer a ‘Switch Guarantee‘, which simply means it will make the switchover as painless as possible. If you visit a branch they will be able to help you with:

  • Transferring your payments from your old account (such as Direct Debits and Bill payments)
  • Transferring any balance from your old account
  • Closing your old account

They aim to have this all done within 7 working days.

    How do I decide which account is for me?

    You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?

    You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:

    • Interest rates
    • Fees (if there are any)
    • Access to cash (if you need quick access for instance)
    • Rewards and loyalty schemes (if you’re into the add-ons or switching bonuses)

    Other savings accounts similar to Barclays

    Updated October 15th, 2019
    Name Product Account type Open with Interest rate Protection scheme
    Fixed term
    £1,000
    2.25% AER
    FSCS
    Fixed term
    £1,000
    2.15% AER
    FSCS
    Fixed term
    £1,000
    2.10% AER
    FSCS
    Fixed term
    £1,000
    2.00% AER
    FSCS
    Fixed term
    £1,000
    1.85% AER
    FSCS
    Fixed term
    £500
    1.80% AER (fixed)
    FSCS
    Cash ISA
    £1
    1.41% AER (variable)
    FSCS
    Cash ISA
    £1
    1.05% AER (variable)
    FSCS
    Cash ISA
    £1,000
    0.85% AER (variable)
    FSCS
    Cash ISA
    £1
    0.30%-0.50% AER (variable)
    FSCS
    Cash ISA
    £1
    1.45% AER (variable)
    FSCS
    Fixed term
    £100
    1.36% (including a 1.16% Bonus fixed for 12 months)
    FSCS
    Fixed term
    £1000
    2.60% AER
    FSCS
    Fixed term
    £1,000
    2.40% AER
    FSCS
    Fixed term
    £1,000
    2.36% AER
    FSCS
    Fixed term
    £1,000
    1.75% AER
    FSCS
    Fixed term
    £1,000
    1.95% AER
    FSCS
    YBS 1 Year Limited Access Saver
    YBS 1 Year Limited Access Saver
    £100
    1.40% AER
    FSCS

    Compare up to 4 providers

    Does Barclays offer online or mobile banking?

    Yep, it offers both. Here are some of the basic features:

    Online banking

    • Check balances. For any type of account.
    • Transfer money between accounts. In a matter of seconds.
    • Pay bills and people. All within the online portal.

    Mobile banking

    • All of those features. On the go.
    • Barclays Pingit. Pay friends as simply as sending a text.

    What are the benefits and drawbacks of banking with Barclays?

    The benefits

    • Online and mobile Banking. The Barclays app makes it simple to keep an eye on your finances.
    • Flexibility. Barclays does offer a wide range of accounts for any sort of financial need.

    The drawbacks

    • Better rates elsewhere? Rates are pretty poor right now across the board, but you might be able to squeeze a slightly better rate from other providers. (Depending on your needs!)
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    18 Responses

    1. Default Gravatar
      StuartMarch 18, 2019

      Hi I’m just looking for a Barclays saving account where I can set up to pay a weekly amount into and not be allowed to access it for 6 months.just to help me save.is there an account for that??

      • Avatarfinder Customer Care
        johnbasanesMarch 19, 2019Staff

        Hi Stuart,

        Thank you for reaching out to Finder.

        Yes Barclay provides flexible and customizable options when opening a savings account. Though you may need to speak to a bank representative directly to provide the requirements you wish to have with the account. You may want to check the Barclays Bank Account. This account can be opened online. It offers flexibility and customisability, and is Barclays standard current account. Hope this helps!

        Cheers,
        Reggie

    2. Default Gravatar
      RichardNovember 26, 2018

      What is the best interest saving account at Barclays? I have a current account and an ISA account.

      • Avatarfinder Customer Care
        JhezNovember 27, 2018Staff

        Hello Richard,

        Thank you for your comment.

        Upon checking, Barclays have an everyday account which lets you earn 0.25% (£1 to £49,999) 0.30% (£50,000 to £10 million) (Rate % AER/gross per year).

        Below is the list of the savings account you can open with Barclays:

        Instant Cash ISA – Issue 1
        2-Year Flexible Cash ISA – Issue 18
        Help to Buy: ISA
        Everyday Saver
        1-Year Fixed-Rate Bond – Issue 92
        2-Year Flexible Bond – Issue 38
        2-Year Premier Flexible Bond – Issue 17
        3-Year Flexible Monthly Income Bond – Issue 1
        2-Year Premier Flexible Cash ISA – Issue 5
        Children’s Instant Saver – Issue 1
        Children’s Regular Saver – Issue 1
        Euro Savings account
        US Dollar Savings account
        Helpful Start

        I suggest that you visit Barclays’ website to know more about their accounts with high-interest rates.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

        Regards,
        Jhezelyn

    3. Default Gravatar
      JoNovember 13, 2018

      I already have a savings and current account with Barclays. Can I open another savings account?

      • Avatarfinder Customer Care
        JhezNovember 14, 2018Staff

        Hello Jo,

        Thank you for your comment.

        Yes, it’s possible to open multiple savings and current accounts with Barclays.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

        Regards,
        Jhezelyn

    4. Default Gravatar
      AgnieszkaNovember 7, 2018

      Hello I’ve got bank account with Barclay’s I got it as a joint account with my husband and we would like to open a saving acount

      • Avatarfinder Customer Care
        JoshuaNovember 20, 2018Staff

        Hi Agnieszka,

        Thanks for getting in touch with finder. I hope all is well with you. :)

        Yes, you may still apply for a saving account. What you need to do is get in touch with Barclays. You can submit your application online through their official website or visit their local branch near you.

        Alternatively, you may also check other bank accounts available on our page.

        I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

        Have a wonderful day!

        Cheers,
        Joshua

    5. Default Gravatar
      BarbaraOctober 8, 2018

      If I open a savings account, does it have a sort code or do only checking accounts have sort codes?

      • Avatarfinder Customer Care
        CharisseOctober 10, 2018Staff

        Hi Barbara,

        Thanks for reaching out to finder.

        Yes. Savings accounts are also assigned a sort code just like checking accounts as it identifies both the bank and the branch where the account is held.

        You can find your Barclays sort code in one of the following places:

        – On your Barclays debit card, usually on the front under your name
        – On your Barclays Mobile Banking accounts homepage, just below your account name.
        – On your Online Banking accounts homepage, just below your account name.
        – On your bank statements
        – Printed on your cheques or paying-in book

        I hope this information helps.

        Cheers,
        Charisse

    6. Default Gravatar
      PaulaSeptember 18, 2018

      How long does it take for Barclays to close an account?

      • Avatarfinder Customer Care
        JhezSeptember 18, 2018Staff

        Hello Paula,

        Thank you for your comment.

        According to the Barclays Account closure instructions and form, closing an account can take up to 5 working days.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

        Regards,
        Jhezelyn

    7. Default Gravatar
      AnonymousSeptember 18, 2018

      I am an international student from Ghana currently on De Montfort University, Leicester to pursue my postgraduate studies. I would like to open a student account with you. Can I walk in anytime to do that or need to book an appointment with you first? Thank you.

      • Avatarfinder Customer Care
        JhezSeptember 18, 2018Staff

        Hello,

        Thank you for your comment.

        To apply for an international student bank account with Barclays, you need to apply online. Once you’ve completed the online application, you’ll need to visit a branch with proof of your student status, address and identity.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

        Regards,
        Jhezelyn

    8. Default Gravatar
      peterAugust 6, 2018

      what is the best account for an investment of £30,000 with instant access?

      • Avatarfinder Customer Care
        JoshuaAugust 14, 2018Staff

        Hi Peter,

        Thanks for getting in touch with finder. I hope all is well with you. :)

        The best account for you will depend on your current and future needs and preference. You may want to give Barclays savings account a try. This account comes with online banking and an app. The main drawback is its interest rate, which isn’t not that competitive.

        If you want to explore other options, you may visit this page. On that page, you will see a table that allows you to conveniently search and compare savings accounts. Once you find the right one for you, click on the “Go to site” green button to learn more or initiate your application.

        I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

        Have a wonderful day!

        Cheers,
        Joshua

    9. Default Gravatar
      KathOctober 28, 2017

      Can you set up a direct debit from a savings account

      • Avatarfinder Customer Care
        ArnoldOctober 28, 2017Staff

        Hi Kath,

        Thanks for your inquiry

        I’m afraid this is not possible. Setting up direct debits or standing orders is a breach of savings account Terms and therefore all regular payments need to be on a current account to enable continued payment.

        Hope this information helps

        Cheers,
        Arnold

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