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AARP by Barclays Summary
AARP by Barclays offers a high-yield online savings account tailored to AARP members. With no monthly fees, no minimum balance, a consistently high APY, and a $400 bonus for qualifying deposits, this FDIC-insured savings account suits older savers looking for secure and efficient digital banking.
Select Savings from Barclays Pros & Cons
Pros
7x national average interest rate
No monthly fees or minimum balance
$400 bonus for qualifying deposits
Cons
Only for AARP members
No ATM or branch access
Select Savings from Barclays at a glance
10
Editorial scoreRates
Competitive APY offering, minimum balance requirement of $1 or $0 to earn stated APY
10.0
Fees & Requirements
No monthly fees, no minimum opening deposit required (or $1 opening balance); no ongoing balance required to earn stated APY
10.0
Security
FDIC insured (directly) through Barclays (not AARP), SSL/AES encryption and supports 2 factor authentication
10.0
Customer Service and Mobile Experience
Generous CS hours (12 hours per day, 7 days per week) dedicated fraud team, FAQ/help page; solid mobile app with 4.7/4.8 out of 5 on the App Store and Google Play
10.0
Features and Benefits
Includes 4 out of 4- rewards or banking bonus if you deposit at least 25K, digital savings tools, no or $1 minimum deposit, easy online transfers
10.0
Advantages Over Traditional Banks
AARP by Barclays provides savers with a streamlined alternative to traditional bank savings accounts. With its competitive APY—approximately seven times the national average—and no fees or balance minimums, it presents a low-cost and high-return savings option. Unlike many physical banks, there are no branch or ATM limitations because the service is designed entirely for online banking. This setup offers significant interest gains and easy management without unnecessary overhead.
Cutting-Edge Banking Services
Users can link external accounts, set up automated savings, and manage finances on the go. The mobile and desktop platforms offer real-time balance updates, digital check deposits, account alerts, and direct deposit setups. These services empower savers to maintain control and visibility over their savings without traditional in-person banking needs.
Traditional Banking Services
While checking and investment services are not offered, the platform supports core functions such as ACH transfers, electronic statements, and mobile check deposit. However, it lacks ATM access, cash deposits, or bundled accounts such as IRAs or CDs within this specific AARP product line.
Interest Rates and Fees
The AARP Select Savings offers a flat-rate APY significantly above the national average.
Feature | Details |
APY (as of April 2026) | 7x national average (4.00%) |
Monthly Fees | $0 |
Minimum Deposit | $0 to open |
| Bonus Offer | $400 Bonus with qualifying activities. Terms Apply. |
Customer Service and Online Experience
AARP by Barclays provides dedicated support via phone and online resources. The account setup is digital and user-friendly, with clearly defined steps and fast processing. While service hours are not 24/7, they include weekday access and relay services for ADA support. The online interface is intuitive, includes FAQs, and allows full control over savings operations.
Mobile App
The Barclays US mobile app supports all critical functions, including mobile check deposits, interbank transfers, account monitoring, and transaction alerts. It receives favorable reviews for reliability and ease of use. Both iOS and Android versions are supported.
Security
The account is FDIC insured up to $250,000 per depositor via Barclays Bank Delaware. Enhanced security measures include SSL encryption, optional two-factor authentication (2FA), and dedicated fraud monitoring services. User data is safeguarded by standard banking-grade protocols.
Bottom Line
AARP by Barclays offers a straightforward, high-yield savings option tailored to AARP members. With no fees, a substantial APY, and a user-friendly digital platform, it’s ideal for savers looking to earn more without the complexity of traditional banking. However, it's best suited for those comfortable with a fully online experience and not needing ATM access.
Methodology
This review was created using information from the Barclays US website, official AARP resources, user reviews, the Barclays mobile app, and third-party financial comparison platforms. It includes compliance-checked facts and features verified against current public terms.
Disclaimer: AI was used in the creation of this content, along with human validation and proofreading.
Bonus Offer Qualifying Activities:
a. Open a new Savings account
b. Deposit $40,000 or more within 30 days
c. Maintain at least $40,000 for the next 120 days
d. After the $40,000 balance is maintained for 120 consecutive days, the $400 bonus will be added directly to the account
APYs are variable and subject to change.
1. Select Savings from Barclays Annual Percentage Yield (APY) is valid as of 4/14/2026. Fees could reduce earnings on the account. Rates may change at any time without prior notice, before or after the account is opened. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01.
2. $400 Bonus Offer: To qualify for this offer, you must be a new Select Savings from Barclays customer, open an account through 07/31/2026, fund your new savings account with at least $40,000 within the first 30 days of opening the account, and maintain the balance of at least $40,000 for 120 consecutive days. After you maintain the $40,000 balance for 120 consecutive days, the $400 bonus will be added to your account in approximately 60 days. The bonus will be treated as interest for tax purposes and could require Barclays to send you a Form 1099-INT (Interest Income) and file it with the IRS for the year in which you earn the bonus. Offer expires 7/31/2026. Offer may be modified or withdrawn without notice.
You'll need your current AARP membership number to open a Select Savings from Barclays account.
AARP member benefits are provided by third parties, not by AARP or its affiliates. Barclays Bank Delaware (Barclays) pays royalty fees to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. Some Barclays offers are subject to change and may have restrictions. Please contact Barclays directly for details.
AARP Digital Banking from Barclays is provided by Barclays Bank Delaware, Member FDIC. AARP is not an FDIC insured institution.
Written byBestmoney Staff
The BestMoney editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.