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Barclays high-yield savings basics
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Barclays Tiered Savings |
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| APY | 3.85% 1 <p>Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 11/19/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information.</p> |
| Minimum balance to earn APY | Maintain a minimum balance that will earn at least 1 cent interest |
| Minimum deposit to open | None |
| Monthly maintenance fees | None |
| ATM access | None |
| Transactions per month | Unlimited |
| FDIC insured? | Yes, up to $250,000 per depositor (Barclays Bank Delaware, Cert. #57203) |
| Visit Barclays |
Who should open a Barclays Tiered Savings account?
I'd recommend the Barclays Tiered Savings account to you if:
- You're focused on earning significantly more interest than a typical savings account.
- You don't need to make cash deposits or use ATMs.
- You might want to make somewhat frequent transactions.
This is one of the best savings accounts there is for no-frills, high-yield savings, with interest rates that regularly top the best yields available for consumers. It doesn't hurt that the online bank charges so few banking fees, and the Barclays mobile app is well-reviewed (though certainly not the most robust). This Barclays savings account is also unique for providing unlimited transactions, while many savings accounts limit how many withdrawals or transfers you can make each month.
Who should choose another savings account
- You want to open accounts other than savings accounts.
- You need the option to deposit or withdraw cash.
- You need in-person banking access.
- You want to make immediate transfers.
You might not think Barclays is a great fit if you're interested in opening other types of bank accounts online besides just savings accounts, since the bank doesn't offer any checking accounts. In fact, its only other products are certificates of deposit (CDs). There are plenty of alternatives to the Barclays Tiered Savings account that offer similar rates and benefits, and I'll talk about those soon.
Featured high-yield savings accounts
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What I like about Barclays Tiered Savings
Competitive savings rates
| APY | |
| Barclays Tiered Savings | 3.85% |
| National average savings rate | 0.39% (as of 12/15/25) |
This is technically a tiered-rate account, which means it offers different interest rates that vary depending on your balance. But unless you're flush with liquid cash, you can probably count on the 3.85% APY. Only balances at or over $250,000 earn the highest APY of 4.00%, which is an extraordinary rate for a high-yield savings account these days. But that would be out of reach for many of us, and I wouldn't recommend keeping that much in a savings account, anyway (that's the kind of nest egg you invest).
No minimums or monthly fees
- No minimum opening deposit
- No minimum balance to earn interest or avoid a monthly fee
- No monthly maintenance fee
The Barclays Tiered Savings account has no minimums, which is just what you want to see in a savings account. Some banks make you jump through hoops to avoid fees or earn the best rate, but not Barclays. You'll earn interest on any positive balance, so you don't have to wait until you're "ready" to save.
It's become pretty typical for high-yield online savings accounts to not have monthly service fees, but it's one of the most important perks to look for. Because you'll earn on any balance and never pay a service fee, this account would be just as well-suited to an emergency fund as to a rainy-day savings stash.
Unlimited withdrawals/transactions
| Barclays Tiered Savings | Traditional savings accounts | |
| Monthly transaction limit | None | Six transactions/withdrawals |
| Excess transaction fee | N/A | $3 to $15+ |
Allowing unlimited transfers and withdrawals is one of the more unique benefits of this savings account, and it's what makes it more flexible than many online savings accounts I've reviewed. You can make as many withdrawals or transactions as you'd like each month (as long as you're good for the money, of course).
Many standard savings accounts limit you to six monthly withdrawals and charge an excess transaction fee for exceeding that limit. You might also see this fee called:
- Excess activity fee
- Excess transfer fee
- Excess[ive] withdrawal fee
- Savings withdrawal fee
- Withdrawal limit fee
This limit is a relic of Regulation D, a Federal Reserve rule that stated:
"[Savings deposit accounts] must not permit more than six convenient transfers or withdrawals per month from the account. Transfers and withdrawals that are considered ''convenient'' [...] are those made by preauthorized, automatic, telephonic agreement, order or instruction, or by check, debit card, or similar order made by the depositor and payable to third parties."
The part of the rule limiting savings transactions was suspended in April 2020, so it doesn't apply as of 2026. Still, while some savings accounts have done away with transaction limits, many haven't bothered to even years later.
What this Barclays high-yield savings account could improve
No direct cash deposits/access
- No cash deposits
- No ATM access
If you deal with a lot of physical cash, maybe because you earn tips, Barclays wouldn't be convenient for you because it doesn't offer cash deposits. You'll need to put it into another bank account first, then transfer it over. And ACH transfers can take two or three days to process, so you generally won't be able to use funds immediately.
Barclays Tiered Savings also doesn't include a debit or ATM card, so you can't withdraw cash right from your balance. Some savings accounts do offer ATM access, but there aren't many to choose from, and you might have to compromise for a lower interest rate to get this benefit.
Learn more: Best Online Banking Services That Accept Cash Deposits
Customer service availability
- No live chat customer support
- No 24/7 customer service
Barclays doesn't offer as much customer service availability as some other banks, including online institutions. If you have a late-night banking emergency, maybe because you notice a discrepancy on your account or an issue with your balance or transfers, you'll have to wait until morning to get help from Barclays.
Barclays customer service hours
Barclays customer service is available Monday through Sunday from 8 a.m. to 8 p.m. Eastern. Many banks offer live chat as an alternative to phone support and longer hours. It is worth noting, though, that weekend support is less common, and 12 hours per day isn't bad.
Limited other bank accounts
If you like keeping your bank accounts together with one institution to stay organized, Barclays won't be for you. This bank only provides:
- Savings accounts
- Certificates of deposit (CDs)
You won't be able to open a checking or money market account with Barclays, but I do recommend its high-rate CDs for long-term saving.
It's not unusual for savings accounts with tippy-top interest rates to come from banks or companies with very small product suites. Offering high savings rates allows these companies to stand out and compete in an oversaturated market. And since most people focus on earning the best possible yields with savings accounts, they might be willing to overlook lackluster account variety, especially if they're laser-focused on saving and already set with checking.
If you're looking for a bank with good savings interest rates and digital tools but a larger product suite, consider Axos Bank or Capital One 360.
Alternatives to Barclays Tiered Savings account
While Barclays offers a competitive APY on its Tiered Savings account, other accounts come with similar features and benefits and offer even higher APYs. Here are two alternatives I like for this account.
E*TRADE Premium Savings Account
The E*TRADE Premium Savings Account offers one of the more impressive APYs you can find on high-yield savings right now, earning 3.75% APY on any balance. It has no minimum deposit requirement, like Barclays Tiered Savings, but differs from the Barclays account in that it doesn't have account tiers with different rates. E*TRADE is a low-cost investment platform owned by Morgan Stanley, and it offers banking products through Morgan Stanley Private Bank, N.A.
You might consider an E*TRADE Premium Savings Account over a Barclays Tiered Savings account if you want to earn a higher rate. The Premium Savings Account is also FDIC insured up to $500,000, not $250,000, for all you savers out there with a healthy six figures put away. I'd also pick this account for you if you're an E*TRADE customer or want to become one, since that'll make it easy to transfer funds between your investing and savings accounts (and help to make up for the fact that E*TRADE doesn't pay much interest on uninvested cash in brokerage accounts).
Visit E*TRADE or learn more in our E*TRADE Bank review.
SoFi Checking and Savings
SoFi® provides both a savings account and a checking account with its offer, so it's ideal if you need both. You can earn up to 3.30% APY8 <p>Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a></p> on savings with qualifying direct deposits.
There's no minimum balance requirement, and you don't have to worry about monthly maintenance9 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> or overdraft fees10 <p>Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a>. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.</p> . It's another online-only option, but it comes with features like early paycheck access.11 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p> If you want an account with more perks than Barclays offers, consider this one.
Visit SoFi® or learn more in our SoFi Checking and Savings review.
Capital One 360 Performance Savings
The Capital One 360 Performance Savings account has a $0 minimum deposit and balance requirement, putting it on par with Barclays' offering. It earns 3.40% APY, and while this isn't as high as the rate on Barclays Tiered Savings, it's still plenty competitive enough to easily be considered "high yield" compared to the national average.
There are a couple of reasons I might recommend this account instead of Barclays savings accounts. For one thing, Capital One 360 also offers checking accounts, including an option for kids and teens. Keeping your checking and savings accounts with one bank is convenient, especially when you want to transfer funds from one to the other. And unlike Barclays, Capital One is known for providing a top-notch mobile banking experience, offering helpful money management and budgeting tools. It also has a sleeker, smoother user interface than Barclays by far. However, you'll generally earn a little less interest with Capital One 360 Performance Savings than you will with Barclays Tiered Savings.
Learn more in our Capital One 360 review.
Barclays Tiered Savings vs. Online Savings
Barclays offers two savings accounts: Tiered Savings and Online Savings. Tiered Savings, covered here, is better than Online Savings overall.
While Barclays' Tiered Savings account earns 3.85% APY, Barclays Online Savings earns up to 3.70% (as of 10/07/2025) without deposit tiers or different earning rates. In other words, you'll earn this rate regardless of your balance. In some cases, where an online bank or fintech offers multiple high-yield savings accounts with one tiered-rate option, you might see the tiered-rate option earning a lower rate on lower balances. But in cases like this, where Barclays offers higher rates on Tiered Savings across the board, it makes sense to go with that option, no matter how much money you have to deposit.
Both of Barclays' options are high-yield savings accounts, but you should choose the higher-yield option when comparing otherwise equivalent options (and that goes for all savings accounts, not just this one).
Barclays customer service
- 1-888-710-8756
- Monday through Sunday
- 8 a.m. to 8 p.m. Eastern
- @AskBarclaysUS
- No live chat
You can always check your balance or initiate a transfer yourself by logging in to your online banking account or using the Barclays US app, which is available for both iPhone and Android devices. You can also call 1-888-710-8756 for support, Monday through Sunday, 8 a.m. to 8 p.m. Eastern. It's worth noting that Barclays only used to offer customer support Monday through Friday but has since expanded to weekend support.
If you have a quick question, you can also contact Barclays customer service via social media. You can tweet @AskBarclaysUS, but make sure you don't include any private information, such as your account number, since your tweet will be publicly viewable.
Barclays also accepts mail correspondence, which might be best for logging a formal complaint or dispute. Its address is:
Barclays
P.O. Box 2460
Cranberry Twp., PA 16066
FAQs
What are the current CD rates at Barclays?
Barclays CD rates are known for being some of the best around. They earn APYs of 3.00%-3.90% (as of 11/19/25), with terms ranging from six months to 60 months (or five years). Aside from the fact that they don't have minimum deposit requirements, which is rare among the best high-yield CDs, these accounts are fairly standard. One benefit of CDs over savings accounts, and a reason you might consider Barclays CDs over Barclays Tiered Savings accounts, is that CDs earn fixed interest rates that won't change (while savings APYs are variable).
If you want to withdraw funds early from a Barclays CD, you have two options. The first is that you can take interest disbursements during your CD's term without penalty. The option to receive interest payments from a CD is relatively uncommon, and it's a nice perk to have if you want to bring in a little passive income. Otherwise, you'll pay an early withdrawal penalty of either 90 or 180 days' interest, with the higher fees charged on longer CDs.
Is Barclays Tiered Savings safe?
Yes, all Barclays Tiered Savings accounts (and other deposit accounts) are FDIC-insured, and Barclays employs several security measures to prevent unauthorized access to your online account.
These security measures include encrypting your information, a built-in timer that will log you out if you haven't been active on the website for a while, and a digital certification that ensures the browser you are communicating with is Barclays and not a fraudulent duplicate.
Can you have two savings accounts with Barclays?
Yes, you can have two savings accounts with Barclays. In fact, you can have up to three Barclays Tiered Savings accounts. Though you don't necessarily need to open multiple accounts of the same kind with one bank, it's a good idea to have more than one savings account.
However, be aware that having multiple accounts, whether or not they are at the same financial institution, may affect the amount of FDIC insurance coverage you'll get. Barclays also only allows a maximum total balance of $5 million across your accounts.
Do you get a card with a Barclays savings account?
No. There is no ATM access available with the Barclays Tiered Savings account, and you won't receive a card connected to your account.
If it's important to you to be able to do cash deposits or access branch locations, then a Barclays account won't be ideal for you.
Bottom line
If earning a high interest rate is your top priority for an online savings account, Barclays Tiered Savings offers 3.85% APY.
Combined with no monthly fees, easy online access, and the convenience of mobile apps, it's a compelling choice for growing your long-term savings without fees eating into your earnings.
The biggest trade-off is the lack of branches or ATMs. As long as you're comfortable managing everything digitally and don't need to make frequent withdrawals or cash deposits, this account is a great choice.
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