High-Yield Savings Account Comparison

Ally Bank vs. Wells Fargo

Compare rates, requirements, and features side-by-side to find the best option for you.

Analysis by Aviel Fahl

Updated December 6, 2025

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Ally Bank

Savings Account

3.30%

APY

Dec 6, 2025

FDIC InsuredNo MinimumsGreat iOS AppGreat Android App

Show Fine Print & Trends

Min. Deposit	$0
Min. Balance	$0
Maintenance Fee	$0
Compound Freq	Daily
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 57803)
Eligibility	United States
Mobile Ratings	iOS:4.7 Android:4.4
BBB Rating	A+(Not BBB Accredited)

Rate Stability

Rate Adjusted

-0.20%

Since 90 days ago

Read Bank Overview

Wells Fargo

Platinum Savings

0.05%

APY

Dec 6, 2025

FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person Access

Show Fine Print & Trends

Min. Deposit	$25
Min. Balance	$1,000,000
Maintenance Fee	$12. Waived with $3,500 minimum daily balance.
Compound Freq	Daily
Direct Deposit	Not required
Branch Access	Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.
Deposit Insurance	FDIC Insured(Cert: 3511)
Eligibility	United States
Mobile Ratings	iOS:4.9 Android:4.8
BBB Rating	D-(Not BBB Accredited)

Important 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.

Rate Stability

Rate Adjusted

-2.46%

Since 90 days ago

Read Bank Overview

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.

See Top Rates

Comparison Analysis

Comparing Ally Bank vs. Wells Fargo

Updated: Dec 6, 2025

Why Ally Bank?

✓Higher potential APY (3.30% 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.)
✓Higher rated Android app (4.8 vs 4.4)
✓Offers 2 different high-yield savings options

— Key Feature Differences —

Better Returns at $10,000

Ally Bank

Ally Bank's Savings Account earns more on smaller deposits (approx. $330 vs $5/yr).

Better Returns at $25,000

Ally Bank

Ally Bank's Savings Account pulls ahead with larger amounts (approx. $825 vs $13/yr).

Best for Simplicity

Ally Bank

Ally Bank's Savings Account offers 3.30% APY with no bundling, direct deposit requirement or caps.

Best Mobile App Experience

Wells Fargo

Wells Fargo offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 4.4)

Shared Benefits

Available Nationwide Available to New & Existing Customers

The Bottom Line

Over a 1-year period, Ally Bank's Savings Account pays $325 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.

Wells FargoAlly Bank

Automated Data Audit

Executive Summary

Ally Bank offers a competitive Savings Account with an APY of 3.30%, providing better returns on smaller deposits without any direct deposit requirements or maintenance fees. In contrast, Wells Fargo's savings options, including the Way2Save Savings and Platinum Savings accounts, yield significantly lower rates of 0.01% and 0.05%, respectively. While Wells Fargo provides a robust mobile app experience, Ally Bank stands out for its higher APY and simplicity, making it the clear winner for those seeking better savings returns.

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.

ExploreAlly Bank ExploreWells Fargo

Stop Losing Interest

See who beats both Ally Bank and Wells Fargo.

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FDIC InsuredNo Minimums

4.60% APY

+1.30% vs Ally Bank

Better Rate

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Neighbors Bank

Neighbors Savings Account

FDIC InsuredNo MinimumsGreat Android App

4.50% APY

+1.20% vs Ally Bank

Better Rate

Neighbors Bank vs Ally Bank Neighbors Bank vs Wells Fargo

Axos Bank

Axos ONE

FDIC InsuredNo MinimumsGreat iOS AppGreat Android App

4.31% APY

+1.01% vs Ally Bank

Better Rate

Axos Bank vs Ally Bank Axos Bank vs Wells Fargo

Feature	Ally Bank	Wells Fargo
APY	3.30% Verified: 12/6/2025 ↘︎ 0.20%90d Change	0.05% Range: 0.05% - 0.05% Verified: 12/6/2025 ↘︎ 2.46%90d Change
Product Name	Savings 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	iOS4.7 Android4.4	iOS4.9 Android4.8
BBB Rating	A+	D-
Important Notes	-	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	- View Details	- View Details

Savings Comparison

Calculations based on current APY.

Initial Deposit

Recurring Deposit

Frequency

Duration

Ally Bank earns $1,958.5 more than Wells Fargo.

Ally Bank

Savings Account

3.30% APY

Savings Breakdown

Interest Earned
+$1,987.10(9.9%)
Total Contributions
$13,000
Initial Deposit
$5,000

Projected Balance

$19,987.10

Effective APY

3.30%

View Details

Wells Fargo

Platinum Savings

0.05% APY

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

Effective APY

0.05%

View Details

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

📈 Compare Savings Rates Over Time

Historical Performance

Last 5 Months Analysis

Metric	Ally Bank	Wells Fargo
	Savings Account	Platinum Savings	Way2Save Savings
Current APYMost recent advertised annual-percentage yield.	3.30%	0.05%	0.01%
TrendDirection over the last 5 months (regression slope).	Stable	Stable	Stable
Velocity (bps/mo)Average monthly change; 10 bps = 0.10 pp.	-5.6	-72.0	0.0
Days Since ChangeRecency of the latest APY adjustment.	36	50	143
5-Month HighHighest APY in the last 144 days.	3.50%	2.51%	0.01%
5-Month LowLowest APY in the last 144 days.	3.30%	0.05%	0.01%
Adjustments / MoTypical number of APY moves per month.	0.42	0.63	0.00
Volatility ScoreCoefficient of variation (stdev ÷ mean). Lower is more stable.	0.025	0.843	0.000

How to read these metrics(Click to expand)

Trends & Velocity

Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Velocity (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Adjustments/Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

High/Low: The absolute ceiling and floor of the rate during the 144-day window.
Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

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More Comparisons

Compare Ally Bank's APY of 3.30% with other banks

Bank Pair	Competitor APY	Min Deposit
Ally Bank vs American Express	3.40%	$0
Ally Bank vs Axos Bank	4.31%	$0
Ally Bank vs Bank of America	0.01%	$100
Ally Bank vs Barclays	4.00%	$0
Ally Bank vs Bask Bank	3.90%	$0
Ally Bank vs BMO Alto	3.25%	$0
Ally Bank vs BrioDirect	4.00%	$5,000
Ally Bank vs Capital One	3.40%	$0
Ally Bank vs Chase Bank	0.01%	$0
Ally Bank vs Chime	3.50%	$0
Ally Bank vs CIT Bank	3.75%	$100
Ally Bank vs Citibank	3.30%	$0
Ally Bank vs Citizens Access™	3.35%	$0.01
Ally Bank vs Climate First Bank	4.21%	$50
Ally Bank vs Discover Bank	3.40%	$0
Ally Bank vs Elevault	4.08%	$0
Ally Bank vs EverBank	4.05%	$0
Ally Bank vs Fitness Bank	4.75%	$100
Ally Bank vs FNBO Direct	3.00%	$1
Ally Bank vs Forbright Bank	4.00%	$0
Ally Bank vs FVCbank	3.85%	$500
Ally Bank vs GO2bank	4.50%	$0
Ally Bank vs Ivy Bank	4.25%	$2,500
Ally Bank vs LendingClub	4.20%	$0
Ally Bank vs Marcus by Goldman Sachs	3.65%	$0
Ally Bank vs Neighbors Bank	4.50%	$0
Ally Bank vs Newtek Bank	4.35%	$0.01
Ally Bank vs Openbank	4.20%	$500
Ally Bank vs Peak Bank	4.20%	$100
Ally Bank vs Pibank	4.60%	$0
Ally Bank vs PNC	3.53%	$0
Ally Bank vs Presidential Bank	4.00%	$5,000
Ally Bank vs Quontic Bank	3.75%	$100
Ally Bank vs Salem Five Direct	3.71%	$10
Ally Bank vs Santander Bank	0.01%	$25
Ally Bank vs SoFi Bank	4.30%	$0
Ally Bank vs Synchrony Bank	3.65%	$0
Ally Bank vs TIMBR	4.40%	$1,000
Ally Bank vs UFB Direct	3.71%	$5000
Ally Bank vs Valley Direct	4.10%	$1,000
Ally Bank vs Varo Bank	5.00%	$0
Ally Bank vs Vio Bank	4.16%	$100
Ally Bank vs Wealthfront	4.15%	$0
Ally Bank vs Zynlo Bank	4.05%	$10

Compare Wells Fargo's APY of 0.05% with other banks

Bank Pair	Competitor APY	Min Deposit
Wells Fargo vs American Express	3.40%	$0
Wells Fargo vs Axos Bank	4.31%	$0
Wells Fargo vs Bank of America	0.01%	$100
Wells Fargo vs Barclays	4.00%	$0
Wells Fargo vs Bask Bank	3.90%	$0
Wells Fargo vs BMO Alto	3.25%	$0
Wells Fargo vs BrioDirect	4.00%	$5,000
Wells Fargo vs Capital One	3.40%	$0
Wells Fargo vs Chase Bank	0.01%	$0
Wells Fargo vs Chime	3.50%	$0
Wells Fargo vs CIT Bank	3.75%	$100
Wells Fargo vs Citibank	3.30%	$0
Wells Fargo vs Citizens Access™	3.35%	$0.01
Wells Fargo vs Climate First Bank	4.21%	$50
Wells Fargo vs Discover Bank	3.40%	$0
Wells Fargo vs Elevault	4.08%	$0
Wells Fargo vs EverBank	4.05%	$0
Wells Fargo vs Fitness Bank	4.75%	$100
Wells Fargo vs FNBO Direct	3.00%	$1
Wells Fargo vs Forbright Bank	4.00%	$0
Wells Fargo vs FVCbank	3.85%	$500
Wells Fargo vs GO2bank	4.50%	$0
Wells Fargo vs Ivy Bank	4.25%	$2,500
Wells Fargo vs LendingClub	4.20%	$0
Wells Fargo vs Marcus by Goldman Sachs	3.65%	$0
Wells Fargo vs Neighbors Bank	4.50%	$0
Wells Fargo vs Newtek Bank	4.35%	$0.01
Wells Fargo vs Openbank	4.20%	$500
Wells Fargo vs Peak Bank	4.20%	$100
Wells Fargo vs Pibank	4.60%	$0
Wells Fargo vs PNC	3.53%	$0
Wells Fargo vs Presidential Bank	4.00%	$5,000
Wells Fargo vs Quontic Bank	3.75%	$100
Wells Fargo vs Salem Five Direct	3.71%	$10
Wells Fargo vs Santander Bank	0.01%	$25
Wells Fargo vs SoFi Bank	4.30%	$0
Wells Fargo vs Synchrony Bank	3.65%	$0
Wells Fargo vs TIMBR	4.40%	$1,000
Wells Fargo vs UFB Direct	3.71%	$5000
Wells Fargo vs Valley Direct	4.10%	$1,000
Wells Fargo vs Varo Bank	5.00%	$0
Wells Fargo vs Vio Bank	4.16%	$100
Wells Fargo vs Wealthfront	4.15%	$0
Wells Fargo vs Zynlo Bank	4.05%	$10