Barclays Bank Review 2025
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Edited by
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At a glance
Overview
Barclays is best for those seeking high-yield savings accounts or competitive certificate of deposit (CD) rates. Consumers who need other types of banking services such as checking — or even quick access to deposit funds — should look elsewhere.
Highlights:
No Min Balance No Monthly FeesHighlights:
CDs
Savings
Overall
Barclays is a London-based multinational financial-services giant with global reach. In the U.S., Barclays offers a limited selection of deposit products online, with just one savings account and a handful of CDs available. Both deposit products offer robust APYs with no fees or minimum deposit requirements, making them accessible to anyone.
Pros
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Barclays offers high savings APYs.
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The accounts have no minimum balance requirements.
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There are no monthly service fees.
Cons
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Barclays offers a limited selection of deposit products.
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Barclays offers no ATM access.
Barclays banking products
Barclays Online Savings Account
Pros
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Barclays' savings accounts have no minimum deposit to open an account.
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The bank does not charge a monthly service fee.
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Savers are rewarded with a robust APY based on qualifying balances.
Cons
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Barclays accounts don't have ATM access.
Rate history for Barclays's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Barclays Online CDs
Pros
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There’s no minimum deposit to open a CD.
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Barclays offers competitive yields on its CDs.
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The withdrawal penalty for CDs of less than two years is relatively low compared to other banks.
Cons
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The bank does not offer any special CDs, such as bump-up or no-penalty CDs.
Rate history for Barclays's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
How Barclays compares to other banks
Compare different account types offered by Barclays. Annual percentage yields (APYs) shown were updated between Feb. 4, 2025 and Feb. 10, 2025.
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Selected bank
Barclays Bank savings account
Bankrate score
4.9
Bankrate Savings rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Ally Bank savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 4, 2025 and Feb. 10, 2025.
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| 4.25% | 3.80% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $2,125 | $1,900 | |
| The Barclays Tiered Savings Account offers a competitive yield on all balances. You don’t need a minimum deposit to open an account and like at most online banks, you won’t pay a monthly maintenance fee. | Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM. | |
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APY offering:
4.25%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
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APY offering:
3.80%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
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Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | None |
| Non-sufficient funds fee | None |
| Monthly maintenance fee | None |
| Excessive transaction fee | None |
| Paper statements | $0.50 |
Customer experience
Customer support
Customer service hours. Customers who prefer to talk to a representative can call the customer service line seven days a week, 8 a.m. to 8 p.m. ET.
Branch availability. Barclays has no branches in the U.S. Barclays customers will need to be comfortable banking solely online.
Digital experience
Highly rated mobile app. Barclays’ mobile bank is highly rated on the Apple App and Google Play stores. But while it’s been reviewed by more than 27,000 Android users, only about 150 iOS users have rated it. Among its features is the ability to make mobile deposits. But because the bank only offers savings products, customers won’t find access to Zelle. If you want to transfer money from your Barclays account to another person, you’ll need to transfer money to an external account of yours that has peer-to-peer transaction capabilities.
Lackluster help center. Barclays maintains an FAQ section on its website, in addition to a resource center, which provides a handful of articles on a variety of personal finance topics. Neither are particularly robust compared to help centers provided by other banks.
Digital tools. On Barclays’ website, customers can use the Savings Assistant or CD Calculator to map out their savings over time. They are certainly helpful, but very simple. You’ll likely find better tools for this purpose elsewhere.
Bankrate staff insight
“The competitive APY is what initially drew my attention, and the email communication about any updates to my account have been quickly and concisely communicated. As rates fluctuate, I am confident that the APY is in line with competitors, coupled with the brand recognition of Barclays," says a Barclays savings account holder at Bankrate. "My main qualms are with the user experience in-app and on desktop. Outside of seeing your available account balance in-app, it is difficult to track down other information you may need, like routing or account numbers."
We want to know what you think about Barclays
Do you have experience with Barclays? Let us know your thoughts.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
Barclays customer reviews
Barclays has 23 reviews
Dive into community reviews below and see what others think about Barclays.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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