Barclays offers a tiered APY range up to 4.50% APY (with $250,000 minimum balance), one of the highest among online savings accounts. Interest is credited in every monthly statement cycle and compounds daily. Customers can use the Barclays US Savings mobile app to deposit checks remotely and view their account information. Unfortunately, direct withdrawals are impossible with Barclays as it is an online bank only–customers need to transfer their funds into a linked account before being able to withdraw them.

Barclays places a withdrawal and transfers limit of $250,000 per monthly statement cycle per account. Customers may make up to 6 withdrawals from their savings account per cycle as is standard under Federal regulation. This includes preauthorized, automatic, and telephone transfers. The maximum amount of funds that may be deposited in a Barclays savings account is $5,000,000. The company does not require a deposit to open its accounts, nor does it penalize customers based on their balances. However, in order to accrue interest, savings account customers must maintain a balance that would earn them at least $0.01. Barclays charges a $5 for insufficient funds (overdraft), which is lower than what other banks charge customers for.