Table of Contents

Barclays Bank: 2024 Banking Review

This global banking giant operates an online-only banking division in the US, with high-yielding savings accounts and CDs.

Why You Can Trust CNET Money
Our mission is to help you make informed financial decisions, and we hold ourselves to strict . This post may contain links to products from our partners, which may earn us a commission. Here’s a more detailed explanation of .

Barclays was founded in the UK in 1690 by two goldsmiths and, later, a third partner whose name has defined the venerable international financial institution since 1736. For nearly 300 years, the name Barclays has come to represent a global banking giant reaching far outside its modest beginnings in London. Today, its operations include an online-only banking operation in the US -- Barclays US.

If you’re a member of Barclays US, you’ll notice its competitive annual percentage yields, or APYs, on its savings accounts and certificates of deposit, but you’ll be hard-pressed to find an online checking account. In fact, Barclays doesn’t offer checking account services and doesn’t operate physical branches in the US.

What we like

  • Higher APYs on CDs and savings accounts compared with other major US banks
  • No minimum to open an account
  • No limit to monthly deposit amounts
  • No monthly maintenance fees
  • Easy-to-use mobile app

What we don’t like

  • No checking account option
  • No brick-and-mortar branches in the US

Who is Barclays best suited for?

Barclays is ideal for savers who have checking accounts at other banks but are looking to broaden their financial portfolio with high-yielding savings accounts. If you’re looking to up your savings game with a high-yield savings account or a CD with a competitive APY, and don’t need a physical branch to do your banking, a Barclays account might be a great fit for you.

Barclays products


The Barclays Online Savings account doesn’t offer many frills -- there’s no minimum account balance or fees -- but it offers an APY rate that’s more than five times the national average, according to the company’s website.

Barclays Online Savings account features


APY 4.00%
Minimum amount to open $0
Monthly maintenance fee $0
Monthly amount to maintain balance $0


APY is as of April 27, 2023.


  • A competitive APY of 4.00%

  • No minimum amount to open or maintain account

  • No fees

  • Easy-to-use and access app


  • You can’t manage your savings account at a physical branch


Barclays US offers CDs with terms as short as 12 months to as long as 60 months (five years).


Barclays CD account features


APY range 4.30% to 5.00%
Minimum balance to open $0
Monthly maintenance fees $0
Minimum amount to maintain $0


Barclays online CD rates


CD term APY
12 months 5.00%
18 months 4.80%
24 months 4.35%
36 months 4.30%
48 months 4.30%
60 months 4.30%


APYs are as of April 5, 2023.


  • High-yielding APYs

  • No fee to open, manage or maintain an account (except for an early withdrawal penalty if you take your money out before it reaches maturity)

  • No minimum balance to open or maintain your account every month

  • You can manage funds easily through an online app


  • Can’t visit a physical branch to manage account

  • Doesn’t provide details about early withdrawal penalties on its website

Barclays banking experience

Barclays provides online-only banking services in the US. You can access your account online and through the bank’s mobile app. You can set up and manage your account on your time wherever you’re located and outside traditional banking hours.

Customer service

You can access your account online 24 hours a day, seven days a week. To speak to a Barclays representative, you can call toll-free daily between 5 a.m. and 5 p.m. PT at 888-710-8756.

Dori Zinn loves helping people learn and understand money. She's been covering personal finance for a decade and her writing has appeared in Wirecutter, Credit Karma, Huffington Post and more.
Advertiser Disclosure

CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.

Editorial Guidelines

Writers and editors and produce editorial content with the objective to provide accurate and unbiased information. A separate team is responsible for placing paid links and advertisements, creating a firewall between our affiliate partners and our editorial team. Our editorial team does not receive direct compensation from advertisers.

How we make money

CNET Money is an advertising-supported publisher and comparison service. We’re compensated in exchange for placement of sponsored products and services, or when you click on certain links posted on our site. Therefore, this compensation may impact where and in what order affiliate links appear within advertising units. While we strive to provide a wide range of products and services, CNET Money does not include information about every financial or credit product or service.