Barclays Review (2026)
Barclays Tiered Savings suits savers who keep money parked and do not need a card or checking at the same bank. The one thing to know: almost everyone earns the base rate, 3.50% APY on balances under $250,000, and only balances of $250,000 or more get 3.65% (both effective October 7, 2026, variable). New customers who open by October 31, 2026 and keep $25,000 in for 120 days can also get a $200 bonus.
By Wealthy Pot Editorial · Facts checked October 19, 2026
Facts checked October 19, 2026 against Barclays's own rate page, account disclosures and fee schedule (3 sources, listed below). We re-check prices about once a month. We do not earn a commission from Barclays.
Barclays at a glance
| APY | 3.50% under $250,000; 3.65% from $250,000 to $1,000,000; effective October 7, 2026; variable [1] |
|---|---|
| How tiers work | The tier rate applies to the entire end-of-day balance [2] |
| Minimum | $0 to open [2] |
| Monthly fee | $0 [3] |
| New-customer bonus | $200: open by October 31, 2026, deposit $25,000 within 30 days, keep $25,000 for 120 days [1] |
| Interest | Compounded daily, credited on the monthly cycle date [2] |
| Transfers | No limit on the number; up to $250,000 per ACH transaction [2] |
| Deposit holds | Check and pulled electronic deposits held 5 business days [2] |
| Mobile check deposit | Up to $5,000 per check and $10,000 per day [2] |
| Wires | Barclays does not accept wire transfers [3] |
| Maximum balance | $1,000,000 per Tiered Savings account [3] |
| Customer service | 877-710-8756, 7 days a week, 8:00 am to 8:00 pm ET [3] |
Barclays in official federal data
Rate compared with the national average
Barclays's savings APY of 3.50% (as of October 19, 2026) is about 9.2 times the FDIC's national average for savings accounts, 0.38% (as of October 19, 2026). On $10,000 kept for a year, that is about $350 in interest against $38 at the national average, before tax and assuming the rate stays the same (variable savings rates rarely do).
Who holds your money
- Deposits are held by Barclays Bank Delaware, FDIC certificate #57203, based in Wilmington, DE, established May 23, 2001 according to the FDIC.
- FDIC insurance covers up to $250,000 per depositor, per insured bank, for each account ownership category. Money held at the same bank under another brand name counts toward the same limit.
- Size: $35.3 billion in deposits and $43.5 billion in total assets (June 30, 2026 call report). Primary federal regulator: FDIC.
Customer complaints filed with the CFPB
From October 2025 through September 2026, consumers sent the Consumer Financial Protection Bureau 116 complaints about checking or savings accounts at BARCLAYS BANK DELAWARE, about 3.28 per $1 billion of deposits; the company responded on time to 100%. Complaint counts grow with the number of customers and cover the whole company, including checking accounts, and the CFPB does not verify each complaint, so treat them as a rough signal. Read the complaints.
Sources: FDIC BankFind (certificate, deposits and assets), FDIC national deposit rates (October 19, 2026), CFPB Consumer Complaint Database (product "Checking or savings account"). Updated monthly.
How Barclays works
Barclays Bank Delaware offers three U.S. deposit products online: Tiered Savings, Online Savings (a flat-rate account) and Online CDs. Tiered Savings has six balance tiers, but on October 7, 2026 the five tiers below $250,000 all paid the same 3.50% APY, and the tier from $250,000 to $1,000,000 paid 3.65%. The rate of your tier applies to the whole end-of-day balance, not just the part above the line. The federal data block on this page compares the base rate with the FDIC national average.
A hypothetical first year for a new customer who opens by October 31, 2026 and moves in $25,000 within 30 days: at 3.50%, $25,000 earns about $875 in a year if the rate holds. Keeping at least $25,000 in for 120 consecutive days adds the $200 bonus, which Barclays pays about 60 days later and treats as interest. That is $1,075 in total, or an effective first-year yield of about $1,075 / $25,000 = 4.30%. The rate is variable, and the bonus is taxable like interest.
Tier math for a larger saver: $300,000 at 3.65% earns about $10,950 a year, while $240,000 at 3.50% earns about $8,400. Crossing $250,000 adds 0.15 percentage points on the whole balance, which is $375 a year at exactly $250,000. Keep in mind the FDIC limit of $250,000 per depositor, per bank, per ownership category before going above it at one bank.
Pros
- No minimum to open and no monthly fee
- $200 bonus for new customers who keep $25,000 in for 120 days (open by October 31, 2026)
- No limit on the number of transfers; up to $250,000 per ACH transaction
- Phone support 7 days a week
Cons
- The higher 3.65% tier needs $250,000 or more
- No checking account and no ATM card
- Does not accept wire transfers
- Check and pulled electronic deposits are held 5 business days
Who Barclays fits, and who should skip it
A good fit if
- You want a savings account at a bank you will not spend from, with no card to tempt you.
- You are a new customer with $25,000 to move in by October 31, 2026 and can leave it for 120 days.
- You keep $250,000 or more and want the higher tier, and you understand how FDIC limits apply to that balance.
Look elsewhere if
- You want checking at the same bank: Ally has both.
- You need to send or receive wires: Marcus sends and receives them for free.
- You want the highest base rate: Bread Savings paid more on our last check.
Limitations to know
- Barclays does not accept wire transfers, so money moves in and out by ACH, check or mobile deposit. [3]
- Deposits made by check or by electronic collection order are held for five business days. [2]
- Each ACH or EFT withdrawal or deposit is limited to $250,000. [2]
- Mobile check deposit is limited to $5,000 per check, $10,000 a day and 10 checks a day. [2]
- Barclays offers savings and CDs only: there is no checking account or ATM card. [1]
Barclays compared with alternatives
| Account | APY | Monthly fee | To open | For the APY | Insurance |
|---|---|---|---|---|---|
| Barclays | 3.50% APY under $250,000; 3.65% from $250,000 (Tiered Savings, Oct 7, 2026) | $0 | $0 | higher balance tiers | FDIC-insured |
| Marcus | 3.50% APY (Oct 2026) | $0 | $0 | $0 | FDIC-insured (Goldman Sachs Bank USA) |
| American Express Savings | 3.20% APY (Oct 19, 2026) | $0 | $0 | $0 | FDIC-insured (American Express National Bank) |
| Bread Savings | 4.05% APY (Oct 2026) | $0 | $100 | $100 | FDIC-insured (Comenity Capital Bank) |
| Ally Bank | 3.10% APY on all balances (Oct 2026) | $0 | $0 | $0 | FDIC-insured |
- Pick Marcus if you want the same 3.50% base rate with free wires and no tiers.
- Pick American Express Savings if you want a big-name online savings account with no minimum.
- Pick Bread Savings if you want a higher flat APY without a $250,000 tier.
- Pick Ally Bank if you want checking and savings at one online bank.
Security and privacy
- Deposits are held at Barclays Bank Delaware, an FDIC member. FDIC insurance covers up to $250,000 per depositor, per bank, per ownership category. [3]
- Joint accounts are for two people with right of survivorship, and you can name payable-on-death beneficiaries. [2]
- The old Barclays US Savings App was retired in October 2024; accounts are managed in the Barclays US Mobile App. [3]
Recent changes
| Date | What changed |
|---|---|
| Oct 7, 2026 | Rates effective: 3.50% APY on every tier under $250,000 and 3.65% from $250,000. [1] |
| Oct 2024 | Barclays retired its US Savings App in favor of the Barclays US Mobile App. [3] |
Barclays FAQ
Is Barclays savings FDIC insured?
Yes. Deposits are held at Barclays Bank Delaware, an FDIC member, and are insured up to $250,000 per depositor, per bank, per ownership category.
What is the Barclays savings rate today?
Barclays Tiered Savings paid 3.50% APY on balances under $250,000 and 3.65% on $250,000 to $1,000,000, effective October 7, 2026. Rates are variable.
Does Barclays have a minimum deposit?
No. There is no minimum deposit to open the account and no monthly fee. The higher 3.65% tier starts at $250,000.
How does the Barclays $200 bonus work?
New Tiered Savings customers who open an account by October 31, 2026, deposit at least $25,000 within 30 days and keep $25,000 in the account for 120 consecutive days get $200, paid about 60 days later and treated as interest.
Can I wire money to Barclays?
No. Barclays says it does not accept wire transfers. Use an ACH transfer (up to $250,000 per transaction), a check or mobile check deposit.
How we researched this review
We did not get paid for this page. On October 19, 2026 we read Barclays's own rate page, account disclosures, fee schedule and help pages, quoted each fact and link every one below. FDIC and CFPB figures come straight from the agencies' public data. We did not open an account to test it, and we do not rate banks with stars. Savings rates are variable; we re-check them about once a month.
Sources
- Barclays US, Tiered Savings (rates from the page's rate data), checked October 19, 2026.
- Barclays US, Terms and conditions (deposit accounts), checked October 19, 2026.
- Barclays US, Banking FAQ, checked October 19, 2026.
This review is for general information, not financial advice. Savings rates are variable and can change at any time; confirm the current APY with the bank before opening an account.