Affirm vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
Affirm
Affirm Money Account
3.60%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Affirm
Affirm Money Account
Wells Fargo
Platinum Savings
0.05%APYDec 10, 2025FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Wells Fargo
Platinum Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Affirm vs. Wells Fargo Savings Calculator
Affirm earns $2,149.2 more than Wells Fargo.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$2,177.80(10.8%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,177.80
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$28.60(0.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,028.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Affirm vs. Wells Fargo
Why Affirm?
- ✓Higher potential APY (3.60% 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.)
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
AffirmAffirm's Affirm Money Account earns more on smaller deposits (approx. $360 vs $0/yr).
Better Returns at $25,000
AffirmAffirm's Affirm Money Account pulls ahead with larger amounts (approx. $900 vs $0/yr).
Best for Simplicity
AffirmAffirm's Affirm Money Account offers 3.60% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Affirm's Affirm Money Account pays $355 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
Affirm offers the Affirm Money Account with a competitive APY of 3.60%, making it a strong choice for savers, especially since it requires no minimum deposit or maintenance fees. This online-only account is FDIC-insured through Cross River Bank and provides daily compounding without the need for direct deposit. In contrast, Wells Fargo's highest APY is 0.05% with the Platinum Savings account, which requires a minimum balance of $1,000,000 and is linked to a Wells Fargo Premier checking account. The Way2Save Savings account offers a minimal 0.01% APY and has a $25 minimum deposit requirement. Overall, Affirm's offering significantly outperforms Wells Fargo's products.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Affirm and Wells Fargo.
| Feature | Affirm | Wells Fargo |
|---|---|---|
| APY | 3.60% Verified: 12/10/2025 ↘︎ 0.25%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 12/10/2025 ↘︎ 2.46%90d Change |
| Product Name | Affirm Money Account | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $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 Android4.8 | iOS4.9 Android4.8 |
| BBB Rating | A+ | D- |
| Important Notes | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | 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 |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Affirm | Wells Fargo | |
|---|---|---|---|
| Affirm Money Account | Platinum Savings | Way2Save Savings | |
Current APY | 3.60% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -7.4 | -71.8 | -0.0 |
Days Since Change | 75 | 54 | 147 |
5-Month High | 3.85% | 2.51% | 0.01% |
5-Month Low | 3.60% | 0.05% | 0.01% |
Adjustments / Mo | 0.20 | 0.61 | 0.00 |
Volatility Score | 0.033 | 0.883 | 0.000 |
How to read these metrics(Click to expand)
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