The Barclays Online Savings Account pays a solid interest rate and has a $0 minimum opening deposit

Barclays is an online-only financial institution.

The bottom line: The Barclays Online Savings Account is a solid fee-free savings account and it might be ideal if you’d like to open an account with $0. However, Barclays doesn’t offer a checking account, so you’ll have to transfer money to an external bank account to access your money.

Pros and consProsCons

High interest that’s higher than the national average of savings account interest rates

No monthly service fees

$0 minimum opening deposit

Need to transfer money to an external bank account to access fundsCompare savings accounts Barclays Online Savings Account review

The Barclays Online Savings Account is an overall great fee-free savings account. It has a $0 minimum opening deposit. You can also earn a high interest rate that’s higher than what many traditional savings accounts pay right now.

How Barclays works

Barclays is an online bank that has a high-yield savings account and CDs. Barclays doesn’t have a checking account, so…

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This article was written by [email protected] (Sophia Acevedo, CEPF) and originally published on www.businessinsider.com