Do you want to know all the features of the Barclays savings account? Responsible Economy thoroughly analyzes the fees, requirements, yields, and all the conditions that Barclays offers in its savings account. We also provide a comparison with the best savings accounts that you can open in the United States, along with an explanatory video.
Explicative video
We have created a video that concisely summarizes all the features of the Barclays savings account. If you find our content helpful, consider supporting us with a subscription to receive daily videos:
Features
In this section, you can find all the features of the Barclays savings account:
Interest rate
Undoubtedly, the most important point of any savings account is the yield. The interest rate offered by Barclays is an impressive 4.35% APY, making it one of the highest interest rates on savings accounts in the United States.
Fees
It is crucial to be aware of any commissions as they can lower returns. Barclays offers an online savings account with no opening fees and no monthly maintenance fees.
Minimum deposit
There is no minimum deposit required to open the savings account.
ATMs
Barclays does not have ATMs or branches in the United States.
Deposit funds
You can deposit funds into the Barclays savings account by making bank transfers or mailing a check.
Withdrawls
To withdraw money, you have to make bank transfers from the Barclays account to the desired account.
Best savings accounts 2023
We have made a comparison of the Barclays savings account with the best savings accounts you can open in the United States. We show you the main characteristics of each savings account:
- 4.05% APY
- Minimum deposit: $100
- No welcome bonus
- Member FDIC
- 4.30% APY
- Minimum deposit: $0
- Welcome bonus: $100
- Member FDIC
- 4.35% APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
- 4.50% APY
- Minimum deposit: $0
- Welcome bonus: $250
- Member FDIC
- 4.35% APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
- 4.30% APY
- Minimum deposit: $0
- Member FDIC
- No welcome bonus
- 4.30 APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
Savings accounts calculator
We have developed a deposit calculator so that you can easily see how much money you can earn:
Barclays savings account calculator
Video with the best savings accounts
We also have made a video with the best savings accounts:
Pros and cons
Once we have seen all the features of the Barclays savings account and analyzed the main characteristics of the best savings accounts, we have compiled a table with all the advantages and disadvantages:
Pros | Cons |
---|---|
High yields | No branches in the United States |
No fees | |
No minimum balance |
Requirements
Opening the savings account is very simple; you just have to meet the following requirements:
- Must be over 18 years old
- Live in the United States
- Have an American phone
Documentation
They may also ask you for the following documentation:
- Certified copy of identity document (for each applicant): in most cases, this will be your current, valid passport, although some other types of ID are acceptable.
- Certified copy or original proof of address (for each applicant): your proof of address will normally be a bank or building society statement or a utility bill.
- Your signed Client Agreement.
Frequent questions
Here we answer all the questions you may have:
Conclusions and opinions
After all the review, our opinion is that Barclays offers one of the best savings accounts in the United States because you can get a very high interest rate, there are no commissions, and there is no minimum deposit. On the other hand, it does not have branches or ATMs.
More information about Barclays
Here you have interest information about Barclays:
Information | Description |
---|---|
Website | https://www.banking.barclaysus.com/ |
https://www.facebook.com/BarclaysBankUS/ | |
https://twitter.com/barclaysbankus | |
Phone | 888-710-8756 |
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Updated the day 1 September, 2023 by Alfredo Barandiarán
Alfredo Barandiarán is not only passionate about finance and the economy, but also has more than 10 years of experience helping people find the best possible financial product. He has worked for 5 years at Iahorro and 2 years at Atrapacrédito. He has currently been running the financial comparator Responsible Economy for 3 years. I graduated in business from Complutense University of Madrid and has studied at ESIC and CEF. You can see all the professional experience of Alfredo Barandiarán on his LinkedIn profile