Wells Fargo: Savings Accounts & Rates
Mission: Banksparency aims to make Wells Fargo's savings accounts transparent and comparable to the market.
Savings Overview
Platinum Savings
Way2Save Savings
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.25% APY.
Bank Overview
- HQ LocationSan Francisco, California
- Founded1852
- Ratings & Trust
- Deposit InsuranceFDIC Insured(Cert: 3511)
Our Take on Wells Fargo
Highlights
- Way2Save Savings has a low minimum deposit of $25.
- Platinum Savings offers a higher APY of 0.05% for large balances.
- Accounts available with no maintenance fees under certain conditions.
- Strong app ratings: 4.9 on App Store, 4.8 on Google Play.
Considerations
- Way2Save Savings has a very low APY of 0.01%.
- Platinum Savings requires a $1,000,000 minimum balance for highest APY.
- Maintenance fees can apply without meeting balance requirements.
- BBB rating is D- and not accredited.
Stop Losing Interest
Wells Fargo is trailing the market leaders.
Savings Accounts: In-Depth View
Savings Accounts Offered by Wells Fargo
| Feature | Way2Save Savings | Platinum Savings |
|---|---|---|
APY | 0.01%Verified: 12/6/2025 | 0.05%Range: 0.05% - 0.05%Verified: 12/6/2025 |
APY Trend | Very StableNo rate changes in last 90 days | Rate Adjusted -2.46% Since 90 days ago |
Min. Deposit | $25 | $25 |
Min. Balance | $0 | $1,000,000 |
Monthly Fee | $5. Waived under some circumstances. | $12. Waived with $3,500 minimum daily balance. |
Direct Deposit | None | None |
Checking Bundle | No | Yes |
Branch Access | Yes | Yes |
Compounding | Daily | Daily |
FDIC Insured | Yes | Yes |
Eligibility | United States | United States |
Important | - | 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 | - | - |
Calculate Savings for Wells Fargo
Minimum balance for higher APY: $1,000,000
Savings Breakdown
- Interest Earned+$18.60(0.1%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,018.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Wells Fargo Savings Rates Over Time
Compare with Wells Fargo
| Feature | Current View Wells Fargo | Empty Slot |
|---|---|---|
| Product | - | |
APY | 0.05% - 0.05%Verified: 12/6/2025 | - |
APY Trend | Rate Adjusted -2.46% Since 90 days ago | - |
| Min. Deposit | $25 | - |
| Monthly Fee | $12. Waived with $3,500 minimum daily balance. | - |
Direct Deposit | No | - |
Checking Bundle | Yes | - |
| Branch Access | Yes | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Note | 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 | - | - |
Bank-to-Bank Comparisons
Compare Wells Fargo's APY of 0.05% with other banks
Alternatives to Wells Fargo
Banks with Higher/Similar Savings APY
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