Barclays vs Varo Money
High-Yield Savings Accounts Comparison
Last Updated: July 7, 2025
Summary of Barclays vs. Varo Bank
As of July 7, 2025 Barclays offers an APY of 4.10% for its Tiered Savings account, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account account.
Barclays yields $35 more than Varo Bank on a $10,000 balance after one year. Barclays pays $410, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Barclays.
In addition, Barclays also offers 3.70% APY for the Online Savings account.
Barclays
Strengths
- Barclays offers a competitive 4.10% APY for balances over $250,000.
- No maintenance fees for all savings accounts.
- Barclays has an A+ BBB rating, indicating strong trustworthiness.
Potential Drawbacks
- APY decreased from 4.20% to 4.10% in the last 30 days.
- Requires a minimum balance of $250,000 for the highest APY.
- No direct deposit option available.
Varo Bank
Strengths
- Varo Bank has a high APY of 5.00% on balances up to $5,000.
- No minimum balance required to open the savings account.
- Varo Bank has a 4.9 App Store rating, indicating strong customer satisfaction.
Potential Drawbacks
- Direct deposit of at least $1,000/month is required to earn the highest APY.
- Lower APY of 2.50% applies to balances over $5,000.
- Varo Bank has an A- BBB rating, lower than Barclays.
Summary: Barclays offers a solid APY of 4.10% for high balances but requires $250,000 to achieve it, while Varo Bank provides a higher APY of 5.00% on smaller balances. However, Varo mandates a direct deposit of $1,000/month to qualify for the top rate. Barclays has a stronger A+ BBB rating compared to Varo's A-, reflecting higher trustworthiness. Both banks have no maintenance fees and good app ratings.
Compare Barclays' vs Varo Bank's Savings Accounts
| Barclays | Varo Bank | |||
|---|---|---|---|---|
| Product | Tiered Savings | Online Savings | vs | High-Yield Savings Account |
| APY | 3.90% - 4.10% (as of 7/7/2025) | 3.70% (as of 7/7/2025) | 2.50% - 5.00% (as of 7/7/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | |
| Minimum Balance for APY | $250,000 | Enough to earn $0.01 in interest | $0.01 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | No | Yes. Min. $1,000/month | |
| Note | The 4.10% APY is only available for balances over $250,000. For lower balances, the APY is 3.90%. | N/A | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | |
| Visit Bank | Tiered Savings | Online Savings | High-Yield Savings Account | |
| App Store Rating | 4.8/5 | 4.9/5 | ||
| Google Play Rating | 4.7/5 | 4.7/5 | ||
| BBB Rating | A+ | A- | ||
Comparative Historical APY Insights (Last 5 Months)
| Barclays | Varo Bank | |||
|---|---|---|---|---|
| Product | Online Savings | Tiered Savings | vs | High-Yield Savings Account |
| Latest APY | 3.70 % | 4.10 % | 5.00 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | -4.4 | -7.5 | 0.0 | |
| Rate Changes / Mo | 0.90 | 1.08 | 0.00 | |
| Days Since Last Change | 27 | 19 | 166 | |
| High (-5 m) | 4.00 % | 4.50 % | 5.00 % | |
| Low (-5 m) | 3.70 % | 4.10 % | 5.00 % | |
| Draw-down from High | -7.5 % | -8.9 % | 0.0 % | |
| Volatility (CV) | 0.020 | 0.029 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-5 m)
- Highest APY in the last 166 days.
- Low (-5 m)
- Lowest APY in the last 166 days.
- Draw-down from High
- How far today sits below the 5-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for Barclays vs Varo Bank
All calculations are based on APY.
Barclays
APY: 4.10%
Total savings breakdown:
- Interest earned: $41 (3.94%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.06%)
Your total balance
$1,041.00
Effective APY: 4.10% (based on your deposit and contributions)
Total balance: $1,041
Earnings: $41
Bank DetailsVaro Bank
APY: 5.00%
Total savings breakdown:
- Interest earned: $50 (4.76%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.24%)
Your total balance
$1,050.00
Effective APY: 5.00% (based on your deposit and contributions)
Total balance: $1,050
Earnings: $50
Bank DetailsAfter 1 year Barclays would earn you $9 less than Varo Bank.
More Comparisons
Compare Barclays' APY of 4.10% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Barclays vs Ally Bank | 3.50% | $0 |
| Barclays vs American Express | 3.60% | $0 |
| Barclays vs Axos Bank | 4.66% | $0 |
| Barclays vs Bank of America | 0.01% | $100 |
| Barclays vs Capital One | 3.50% | $0 |
| Barclays vs Chase Bank | 0.01% | $0 |
| Barclays vs Chime | 3.75% | $0 |
| Barclays vs CIT Bank | 4.00% | $100 |
| Barclays vs Discover Bank | 3.50% | $0 |
| Barclays vs Fitness Bank | 5.00% | $100 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs SoFi Bank | 3.80% | $0 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
Compare Varo Bank's APY of 5.00% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Varo Bank vs Ally Bank | 3.50% | $0 |
| Varo Bank vs American Express | 3.60% | $0 |
| Varo Bank vs Axos Bank | 4.66% | $0 |
| Varo Bank vs Bank of America | 0.01% | $100 |
| Varo Bank vs Capital One | 3.50% | $0 |
| Varo Bank vs Chase Bank | 0.01% | $0 |
| Varo Bank vs Chime | 3.75% | $0 |
| Varo Bank vs CIT Bank | 4.00% | $100 |
| Varo Bank vs Discover Bank | 3.50% | $0 |
| Varo Bank vs Fitness Bank | 5.00% | $100 |
| Varo Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Varo Bank vs SoFi Bank | 3.80% | $0 |
| Varo Bank vs Synchrony Bank | 3.80% | $0 |