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Barclays Bank Review 2023

Updated January 4, 2023
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At a glance

4.2
Rating: 4.2 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.9 stars out of 5

Savings

Rating: 4.9 stars out of 5

About Bankrate Score

Overview

Barclays is best for those seeking high-yielding savings or CD rates. Consumers who need regular banking services — or even quick access to deposit funds — should look elsewhere.

Highlights

  • No Min Balance
  • No Monthly Fees
Compare offers
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.30
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
5.00
%
APY
Rating: 0 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

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.

Pros

  • Checkmark

    Barclays offers high savings APYs.

  • Checkmark

    The account has no minimum balance requirements and no monthly service fees.

Cons

  • Barclays offers a limited selection of deposit products.

Barclays bank products

4.9
Rating: 4.9 stars out of 5
Bankrate Score

Barclays savings overview

Barclays offers a yield higher than the national average, and there is no minimum deposit or balance required to earn the APY. There is no monthly service fee either.

Pros

  • Checkmark

    Barclays savings has no minimum deposit or balance requirements.

  • Checkmark

    It does not charge a monthly service fee.

  • Checkmark

    Savers are rewarded with a robust APY.

Cons

  • The Barclays Online Savings Account doesn’t have ATM access.

  • Other online banks offer a higher yield.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
Info
$0
Min balance for APY
View offer Arrow Right

Bank experience

When it comes to Barclays’ mobile experience, its app scored 3.5 on iOS and 1.8 with Android users. Among its features is the ability to make mobile deposits, which is a plus considering the bank's limited branch and ATM network.

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. Eastern time.

About Barclays

Barclays Bank Delaware is the official name of Barclays' U.S. retail internet banking subsidiary, although Barclays' roots are based in the U.K.

Barclays Bank Delaware is headquartered in New York and has operations in seven states and the District of Columbia. In addition to its credit card portfolio, Barclays offers online savings accounts and certificates of deposit.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.