Available nationwide, Barclays is offering a generous 4.00% APY Rate with their Online Savings account. Definitely continue reading below for everything you would need to know about the attractive account and rate!
Update 12/23/24: The rate has decreased to 4.00% APY (from 4.10%). We recommend our top pick – the Western Alliance savings account.
Barclays Online Savings Review
From their small London beginnings more than 300 years ago to today’s current operations, Barclays has always been driven by strong values and the ultimate goal of helping our clients and customers achieve their ambitions in the right way.
I’ll review Barclays Online Savings below.
Barclays Online Savings Rate
- Eligible account: Barclays Savings
- Credit inquiry: Soft Pull or Hard Pull? Let us know
- Where it’s available: Nationwide
- Opening Deposit: None
- Monthly fee: None
- Early Termination Fee: None listed, check with CSR
How to Earn Barclays Rate
- Open a Barclays Savings Account online.
- Input your info by providing your name, address, phone, email and also social security number or Tax ID.
- Fund the account by transferring funds electronically from an internal account here or an external account at another bank.
- Earn your rate after your account is approved.
Balance Requirement | APY Rate |
$0.01+ | 4.00% APY |
Barclays Online Savings Features
- No monthly maintenance fees
- Get all the benefits without any extra cost
- No minimum balances to open
- Tools to help you save
- Access a wide variety of features to get a better banking experience
- Secure, 24/7 online access to your funds
- Online transfers to and from other banks
- Direct deposit to make saving simple and easy
- Check your balance, transfer funds and even deposit checks free from your mobile devices
Deposit Options
You’re able to deposit money into your savings account with these options:
- Mobile deposit
- Direct deposit
- Electronic funds transfer
- Mailed check
Note: Barclays does not cash deposits, accept money orders, wire transfers, or third-party checks (those that are signed over to a person whose name doesn’t match the front of the check).
Withdraw Options
You’re able to withdraw money from your Barclays Online Savings account with these options:
- Electronic funds transfer
- A mailed check from Barclays
Note: It can take 2-3 business days for money from your Barclays account to get to your external bank account via online transfer.
Barclays Online Savings $200 Bonus (Expired)
New Barclays Savings customers through 5/3/2024 can earn a $200 bonus after depositing $25,000 and earn 4.00% APY.
How to earn it:
- Open a Barclays Savings account
- Fund your new savings account with at least $25,000 within the first 30 days of opening the account
- Maintain the balance of at least $25,000 for 120 consecutive days.
- After you maintain the $25,000 balance for 120 consecutive days, the $200 bonus will be added to your account in approximately 60 days.
Terms: $200 Bonus Offer: To qualify for this bonus offer, you must be a new Barclays Savings customer (current and previous Barclays customers with a Savings account or CD are not eligible), open an account 3/4/2024 through 5/3/2024, fund your new savings account with at least $25,000 within the first 30 days of opening the account, and maintain the balance of at least $25,000 for 120 consecutive days. After you maintain the $25,000 balance for 120 consecutive days, the $200 bonus will be added to your account in approximately 60 days. Offer expires 5/3/2024. You may make multiple deposits to your account from another financial institution(s) to meet the offer requirements, provided these deposits all occur no later than 30 days after opening the new savings account. The funds deposited into your Barclays Savings account will earn the then current annual percentage yield listed on barclaysus.com/deposits for the Barclays Savings account. Withdrawals could affect your eligibility to earn the bonus if the withdrawal causes the account balance to drop below $25,000. The 120 consecutive days will not start until the $25,000 is deposited within 30 days from opening the account. The bonus will be applied and treated as interest for tax purposes and could require Barclays to send you a Form 1099-INT (Interest Income) and file it with the IRS for the year in which you earn the bonus. While there is no minimum required to open a Barclays Savings account, as described above there is a minimum balance required to earn the bonus offer.
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Conclusion
Barclays is offering a competitive rate. Additionally, there is no minimum opening balance or deposit required to open an account. Plus, it’s easy to sign up online! Start saving with a safe and great account that also offers a competitive APY Rate.
Let us know about your experience with this bank and comment below.
In addition to the rate from Barclays, check out our list of best rates Savings, Money Market, and CD accounts.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
Check back often to see the latest info on Barclays Online Savings Account.