Affirm vs. Wells Fargo
Comparing Affirm and Wells Fargo for savings: Affirm's Affirm Money Account pays 3.20% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Wells Fargo requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Affirm pays $315 more than Wells Fargo annually ($320 vs $5).
Choose Affirm if getting the best rate matters most, or you want a no-strings-attached account. Choose Wells Fargo if you value in-person banking, or you want Zelle for quick transfers.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Affirm offers its savings account standalone.
| Metric | AffirmAffirm Money Account Feb 6, 2026 | Wells FargoPlatinum Savings Feb 6, 2026 |
|---|---|---|
| APY | 3.20% | 0.05% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | 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. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Affirm vs. Wells Fargo
Executive Summary
Affirm offers a competitive savings option with its Affirm Money Account, providing a 3.20% APY with no minimum deposit, maintenance fees, or direct deposit requirements, making it an attractive choice for those seeking simplicity. In contrast, Wells Fargo's highest yielding product, the Platinum Savings account, only offers a 0.05% APY, which is significantly lower and requires a minimum balance of $1,000,000 linked to a Wells Fargo Premier checking account. The Way2Save Savings account from Wells Fargo offers an even lower APY of 0.01%. Overall, Affirm's offering stands out clearly as the superior option for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Affirm?
- ✓Higher potential APY (3.20% 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
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
AffirmAffirm's Affirm Money Account earns more on smaller deposits (approx. $320 vs $5/yr).
Better Returns at $25,000
AffirmAffirm's Affirm Money Account pulls ahead with larger amounts (approx. $800 vs $13/yr).
Best for Simplicity
AffirmAffirm's Affirm Money Account offers 3.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Affirm's Affirm Money Account pays $315 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Affirm vs. Wells Fargo Savings Calculator
You earn $315 more with Affirm 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.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
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 | Affirm | Wells Fargo |
|---|---|---|
| APY | 3.20% Verified: 2/6/2026 ↘︎ 0.40%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 2/6/2026 Stable (90d) |
| 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. |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | Wells Fargo offers branches and ATMs in 36 states and Washington, D.C. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | A- |
| 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 | Visit SiteVerify at Affirm 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 | Affirm | Wells Fargo | |
|---|---|---|---|
| Affirm Money Account | Platinum Savings | Way2Save Savings | |
Current APY | 3.20% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -8.6 | -51.1 | 0.0 |
Days Since Change | 31 | 112 | 206 |
7-Month High | 3.85% | 2.51% | 0.01% |
7-Month Low | 3.20% | 0.05% | 0.01% |
Adjustments / Mo | 0.58 | 0.44 | 0.00 |
Volatility Score | 0.064 | 1.252 | 0.000 |
How to read these metrics(Click to expand)
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Compare Affirm's APY of 3.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Affirm vs Ally Bank | 3.30% | $0 |
| Affirm vs American Express | 3.30% | $0 |
| Affirm vs Axos Bank | 4.21% | $0 |
| Affirm vs Bank of America | 0.01% | $100 |
| Affirm vs Barclays | 4.00% | $0 |
| Affirm vs Capital One | 3.30% | $0 |
| Affirm vs Chase Bank | 0.01% | $0 |
| Affirm vs Chime | 3.00% | $0 |
| Affirm vs CIT Bank | 3.75% | $100 |
| Affirm vs Citibank | 3.20% | $0 |
| Affirm vs Discover Bank | 3.30% | $0 |
| Affirm vs EverBank | 3.90% | $0 |
| Affirm vs Marcus by Goldman Sachs | 3.65% | $0 |
| Affirm vs Newtek Bank | 4.20% | $0.01 |
| Affirm vs Openbank | 4.09% | $500 |
| Affirm vs Pibank | 4.60% | $0 |
| Affirm vs SoFi Bank | 4.00% | $0 |
| Affirm vs Synchrony Bank | 3.50% | $0 |
| Affirm vs Varo Bank | 5.00% | $0 |
| Affirm vs Wealthfront | 3.95% | $0 |