Barclays vs Wells Fargo
High-Yield Savings Accounts Comparison
Last Updated: July 16, 2025
Summary of Barclays vs. Wells Fargo
As of July 16, 2025 Barclays offers an APY of 4.10% for its Tiered Savings account, compared to Wells Fargo's 2.51% APY for its Platinum Savings account.
Barclays yields $385 more than Wells Fargo on a $10,000 balance after one year. Barclays pays $390 (with an effective APY of 3.9%), while Wells Fargo pays $5 (with an effective APY of 0.05%) - an APY advantage for Barclays.
In addition, Barclays also offers 3.70% APY for the Online Savings account.
Barclays
Strengths
- Barclays offers a higher APY of 4.10% for balances over $250,000.
- Barclays has an A+ BBB rating and is BBB Accredited.
- Barclays has no maintenance fees or minimum deposit requirements for its accounts.
Potential Drawbacks
- Barclays has no physical branches.
- Barclays' APY decreased from 4.20% in the last 30 days.
- Barclays requires a minimum balance of $250,000 for the highest APY.
Wells Fargo
Strengths
- Wells Fargo has physical branches and ATMs in 36 states and Washington, D.C.
- Wells Fargo offers a low minimum deposit of $25 for its Platinum Savings account.
- Wells Fargo's App Store rating is 4.9, higher than Barclays.
Potential Drawbacks
- Wells Fargo's highest APY is only 2.51%, significantly lower than Barclays.
- Wells Fargo has an F BBB rating and is not BBB Accredited.
- Wells Fargo charges a $12 maintenance fee unless a $3,500 balance is maintained.
Summary: Barclays offers a significantly higher APY of 4.10% compared to Wells Fargo's 2.51%, along with better BBB ratings. However, Barclays lacks physical branches, while Wells Fargo provides branch access and a lower minimum deposit requirement. Despite these advantages, Wells Fargo's fees and lower APY may deter potential customers.
Compare Barclays' vs Wells Fargo's Savings Accounts
| Barclays | Wells Fargo | |||
|---|---|---|---|---|
| Product | Tiered Savings | Online Savings | vs | Platinum Savings |
| APY | 3.90% - 4.10% (as of 7/16/2025) | 3.70% (as of 7/16/2025) | 0.05% - 2.51% (as of 7/16/2025) | |
| Bundled Account | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | No | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $25 | |
| Minimum Balance for APY | $250,000 | Enough to earn $0.01 in interest | $1,000,000 | |
| Maintenance Fee | $0 | $0 | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | No | No | No | |
| Note | The 4.10% APY is only available for balances over $250,000. For lower balances, the APY is 3.90%. | N/A | This is a tiered savings account where rates vary based on the balance. The 2.51%% 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. | |
| Visit Bank | Tiered Savings | Online Savings | Platinum Savings | |
| App Store Rating | 4.8/5 | 4.9/5 | ||
| Google Play Rating | 4.7/5 | 4.8/5 | ||
| BBB Rating | A+ | F | ||
No historical data available.
Calculate Savings Growth for Barclays vs Wells Fargo
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 DetailsWells Fargo
APY: 2.51%
Total savings breakdown:
- Interest earned: $25.1 (2.45%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (97.55%)
Your total balance
$1,025.10
Effective APY: 2.51% (based on your deposit and contributions)
Total balance: $1,025.1
Earnings: $25.1
Bank DetailsAfter 1 year Barclays would earn you $15.9 more than Wells Fargo.
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 Presidential Bank | 4.50% | $5,000 |
| Barclays vs SoFi Bank | 3.80% | $0 |
| Barclays vs Synchrony Bank | 3.80% | $0 |
| Barclays vs Varo Bank | 5.00% | $0 |
Compare Wells Fargo's APY of 2.51% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Wells Fargo vs Ally Bank | 3.50% | $0 |
| Wells Fargo vs American Express | 3.60% | $0 |
| Wells Fargo vs Axos Bank | 4.66% | $0 |
| Wells Fargo vs Bank of America | 0.01% | $100 |
| Wells Fargo vs Capital One | 3.50% | $0 |
| Wells Fargo vs Chase Bank | 0.01% | $0 |
| Wells Fargo vs Chime | 3.75% | $0 |
| Wells Fargo vs CIT Bank | 4.00% | $100 |
| Wells Fargo vs Discover Bank | 3.50% | $0 |
| Wells Fargo vs Fitness Bank | 5.00% | $100 |
| Wells Fargo vs Marcus by Goldman Sachs | 3.65% | $0 |
| Wells Fargo vs Presidential Bank | 4.50% | $5,000 |
| Wells Fargo vs SoFi Bank | 3.80% | $0 |
| Wells Fargo vs Synchrony Bank | 3.80% | $0 |
| Wells Fargo vs Varo Bank | 5.00% | $0 |