Barclays vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | BarclaysTiered Savings Jan 21, 2026 | Wells FargoPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.85% - 4.00% | 0.05% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android App | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Barclays vs. Wells Fargo
As of Barclays offers an APY of 4.00% for its Tiered Savings account, with a minimum balance of $250,000, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
Barclays pays $380 more than Wells Fargo on a $10,000 balance after one year. Barclays pays $385 (with an effective APY of 3.85%), while Wells Fargo pays $5 - an APY advantage for Barclays.
In addition, Barclays also offers 3.60% APY for the Online Savings account, with a minimum balance of Enough to earn $0.01 in interest, while Wells Fargo offers 0.01% APY for the Way2Save Savings account, with a minimum balance of $0.
Why Barclays?
- ✓Higher potential APY (3.60%-4.00% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Physical branch access (Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.)
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
BarclaysBarclays's Tiered Savings earns more on smaller deposits (approx. $385 vs $5/yr).
Better Returns at $25,000
BarclaysBarclays's Tiered Savings pulls ahead with larger amounts (approx. $963 vs $13/yr).
Best for Simplicity
BarclaysBarclays's Online Savings offers 3.60% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Barclays's Tiered Savings pays $380 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Barclays offers a competitive Tiered Savings account with an APY of 4.00% for balances over $250,000, making it a strong choice for those with larger deposits. For lower balances, the APY is 3.85%. Additionally, their Online Savings account provides a simpler option with a 3.60% APY and no minimum balance requirement. In contrast, Wells Fargo's highest APY is only 0.05% with their Platinum Savings account, which requires a $1,000,000 balance and a linked Premier checking account. Their Way2Save Savings account offers a minimal 0.01% APY. Overall, Barclays stands out significantly in terms of returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Barclays vs. Wells Fargo Savings Calculator
You earn $380 more with Barclays than Wells Fargo on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Barclays | Wells Fargo |
|---|---|---|
| APY | 4.00% Range: 3.85% - 4.00% Verified: 1/21/2026 ↘︎ 0.10%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 1/21/2026 Stable (90d) |
| Product Name | Tiered Savings | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $250,000 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.9 Android4.7 | iOS4.9 Android4.8 |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | D- |
| Important Notes | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Next Steps | Visit SiteVerify at Barclays Non-sponsored link to official site | Visit SiteVerify at Wells Fargo Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Barclays | Wells Fargo | ||
|---|---|---|---|---|
| Online Savings | Tiered Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.60% | 4.00% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -2.1 | -2.2 | -56.6 | 0.0 |
Days Since Change | 56 | 63 | 96 | 189 |
6-Month High | 3.70% | 4.10% | 2.51% | 0.01% |
6-Month Low | 3.60% | 4.00% | 0.05% | 0.01% |
Adjustments / Mo | 0.16 | 0.16 | 0.47 | 0.00 |
Volatility Score | 0.013 | 0.012 | 1.163 | 0.000 |
How to read these metrics(Click to expand)
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