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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 is a full-time Personal Finance Writer at Motley Fool Money. He’s been covering topics like credit cards and savings since 2022, when he began his writing career at The Points Guy. He later joined Motley Fool Money, where he continues helping people who are new to the world of personal finance. Outside of work, you’ll find Ryan reading, writing, listening to music or obsessively 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.

Ratings Methodology
Rates as of Aug 30, 2025

Barclays Tiered Savings

Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Member FDIC.
5.00/5 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
5.00/5 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.

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

Though top rates are reserved for high balances, Barclay Tiered Savings account's APYs are competitive no matter how much savings you have. Not only does it offer a strong APY, but it also has no monthly fees, no minimum amount to open an account, and no withdrawal limits.

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. 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 Promotion Next Steps
up to 3.80%
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 bonus with direct deposit. Plus, new customers earn an extra 0.70% APY on savings for up to 6 months with direct deposit (terms apply) -- that equals up to 4.50% APY! 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.
3.50%
Rate info Circle with letter I in it. 3.50% annual percentage yield as of August 30, 2025. Terms apply.
Min. to earn: $0
N/A
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: $0
N/A
Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

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.