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Barclays Tiered Savings Review: A Sky-High APY With No Fees Attached

Review Updated
Ryan Wilcox
Author: Ryan Wilcox
Ryan Wilcox
Ryan Wilcox
Full-Time Personal Finance Writer

Ryan Wilcox is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, auto insurance, and other personal finance topics. Ryan has been writing about credit cards and savings since 2022. Before joining Motley Fool Money, he was a full-time writer at The Points Guy, where he focused on maximizing credit card rewards and travel strategies. He holds a bachelor’s degree in English and American History from the University of North Carolina at Chapel Hill, where he also spent four years reporting for The Daily Tar Heel. With a background in both journalism and consumer finance, he brings a clear and thoughtful voice to money topics. Outside of work, Ryan is likely reading, writing, or updating his Letterboxd account.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

A few months ago, I finally moved my savings out of my old Wells Fargo account. I'd had enough of earning next to nothing -- Wells Fargo offers just 0.01% APY on its standard savings account.

I switched my cash to a high-yield savings account and I haven't looked back since. Seeing my money grow that much faster just for changing banks has been a game-changer.

Barclays Tiered Savings is a simple, high-earning account with zero monthly fees and one of the best APYs out there.

If you're looking for a place to park your short-term savings, this account is worth considering. Here's what you need to know.

Barclays Tiered Savings
Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Member FDIC.

Rates as of Oct 24, 2025

Barclays Tiered Savings

Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Member FDIC.
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Special Offer
Earn $200 Bonus with qualifying activities. Terms Apply. Circle with letter I in it. To earn a $200 bonus, new customers can open a savings account; deposit $30,000 or more within 30 days; and maintain at least that balance for 120 consecutive days. The bonus will be credited to your account within 60 days of meeting these requirements. Offer ends Dec. 31, 2025. Terms apply.
APY
3.90% Rate info Circle with letter I in it. Balances less than $250,000 earn 3.90%, and balances greater than $250,000 earn 4.10%.
Min. To Earn APY
$0
  • Competitive APY
  • No monthly account fee
  • Unlimited number of external transfers (up to daily transaction limits)
  • FDIC insured
  • No minimum deposit to open an account
  • Balance requirement for maximum APY
  • No ATM access
  • No wire transfers (inbound or outbound)
  • No branch access; online only

Barclays Tiered Savings rewards savers with a tiered APY structure, offering higher rates as your balance grows. No monthly fees and no minimum balance to open mean it's accessible to everyone, while unlimited transfers and withdrawals let you manage your savings your way. And now, you can take advantage of a special offer $200 bonus on top of your savings growth when you open a new account and deposit $30,000 or more. Offer ends Dec. 31, 2025. Terms apply.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

What I like about the Barclays Tiered Savings account

Sky-high APY

With Barclays' tiered earning system, the more you save, the more you can earn, with balances over $250,000 qualifying for the top tier.

For those of us without a quarter of a million in the bank, though, this account is still top tier. If you're under that threshold, you qualify for an impressive 3.90% APY.

No fees, minimums or limits

Barclays has no monthly maintenance fees, along with no minimum deposit required to open the account. That makes it easy to get started and keep your full balance working for you. The only small fee you might incur is if you request a print statement for your account.

Barclays also doesn't limit how many times you can move your money each month. That's a big plus compared to banks that still enforce a withdrawal limit.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Bonus Next Steps
up to 4.50%
Rate info Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
Earn up to $300 and +0.70% Boost on Savings APY with direct deposit. Terms apply. Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
3.85%
Rate info Circle with letter I in it. 3.85% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $5,000
Earn a bonus of up to $300 after a one-time deposit of $25,000+ Circle with letter I in it. This limited-time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025, and can end at any time without notice. Customers will receive a $225 or a $300 bonus provided that the program requirements are met. Click here to see promotion details and terms: https://www.cit.com/cit-bank/platinum-savings/PS2025
4.10%
Rate info Circle with letter I in it. The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn: $500 to open, $0.01 for max APY
N/A
Disclaimers

The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.

For complete list of account details and fees, see our Personal Account disclosures.

Downsides you should consider

Steep balance requirement for top APY

As mentioned, to unlock the highest APY tier, you'll need to keep at least $250,000 in the account -- definitely out of reach for most.

You'll still earn a great 3.90% rate below that threshold, but the very best rewards are reserved for the biggest balances.

Limited withdrawal methods

You can transfer funds electronically, but you won't find ATMs or branches to withdraw cash.

There's no checking account to link directly either, so if you need quick access to your money, this account might not work for you.

Customer service

Another potential downside: Barclays doesn't offer in-person support, since it's an online-only bank.

You can still reach customer service by phone from 8:00 a.m. to 8:00 p.m. ET, seven days a week. That's good coverage, though not quite 24/7 like some competitors.

Accessing your money

Depositing money

You can fund your Barclays Tiered Savings account through ACH transfers, mobile check deposit, or by mailing in a check. Mobile deposit limits include a $5,000 daily check max and a $10,000 total daily deposit limit.

You can deposit up to 20 checks totaling $50,000 over 10 business days. Keep in mind, though, that Barclays doesn't accept cash, wire transfers, money orders, or third-party checks.

Withdrawing money

You can move your money out of Barclays via electronic transfer to another linked bank account. But there are no ATMs or branches, so you won't be able to make cash withdrawals directly.

As mentioned, Barclays is best for people who don't need frequent, instant access to their cash.

Security and reliability

Barclays is a well-known U.K. bank with a long-standing global presence. Its U.S. savings accounts are online-only, but backed by the same financial stability.

All deposits are FDIC-insured up to $250,000, giving you peace of mind that your money is protected.

Who will benefit from the Barclays Tiered Savings account?

If you're a high-balance saver, Barclays rewards you with some of the best APYs available. And if you're fee-averse, the lack of monthly charges and minimums makes this high-yield savings account a great way to grow your money.

It's also great for anyone who's comfortable with online banking and doesn't need access to cash on demand. I'd recommend it if you're looking for an easy way to grow your savings.

If you're ready to maximize your savings with a hassle-free, high-earning account, sign up for the Barclays Tiered Savings account today and start growing your money faster!

FAQs

  • There aren't any monthly fees or minimum deposit requirements. The only fee you might incur is if you request a paper statement.

  • Yes, deposits are insured up to $250,000 per depositor per account ownership category.

  • You can fund your account using ACH transfers, mobile check deposit, or by mailing a physical check.