Axos Bank vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
Axos Bank
Axos ONE
4.31%APYDec 6, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Axos Bank
Axos ONE
Wells Fargo
Platinum Savings
0.05%APYDec 6, 2025FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Wells Fargo
Platinum Savings
Looking for Simplicity?
Don't want a checking bundle? We track many high-yield banks that offer competitive rates without checking requirements.
Comparison Analysis
Comparing Axos Bank vs. Wells Fargo
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (4.00%-4.31% vs 0.01%-0.05%) on all balances
Why Wells Fargo?
- ✓Physical branch access (Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.)
— Key Feature Differences —
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE earns more on smaller deposits (approx. $431 vs $5/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1077 vs $13/yr).
Best for Simplicity
Axos BankAxos Bank's Summit Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Requires Banking Relationship
Both banks require a checking account bundle to access their highest rates.
Best Mobile App Experience
Wells FargoWells Fargo offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 4.6)
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE pays $426 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
Executive Summary
Axos Bank stands out with its Axos ONE savings and checking bundle, offering a competitive APY of 4.31%, which is significantly higher than Wells Fargo's Way2Save Savings account, yielding just 0.01%. The Axos ONE account does not require direct deposit, but setting one up can help earn the highest APY. In contrast, Wells Fargo's savings options, including the Platinum Savings account with a maximum APY of 0.05%, are less attractive. While Wells Fargo provides a solid mobile app experience, Axos Bank's higher returns make it the preferable choice for savers.
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.
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| Feature | Axos Bank | Wells Fargo |
|---|---|---|
| APY | 4.31% Verified: 12/6/2025 ↘︎ 0.15%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 12/6/2025 ↘︎ 2.46%90d Change |
| Product Name | Axos ONE | 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 | Yes | Yes |
| Mobile Apps | iOS4.7 Android4.6 | iOS4.9 Android4.8 |
| BBB Rating | A+ | D- |
| Important Notes | The 4.31% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | 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 | SponsoredOpen Account |
Savings Comparison
Axos Bank earns $2,607.3 more than Wells Fargo.
Axos Bank
Axos ONE
Savings Breakdown
- Interest Earned+$2,635.90(12.8%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,635.90
Sponsored Link
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.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Wells Fargo | |||
|---|---|---|---|---|---|
| High Yield Savings | Summit Savings | Axos ONE | Platinum Savings | Way2Save Savings | |
Current APY | 0.61% | 4.00% | 4.31% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -0.0 | 0.0 | -1.8 | -72.0 | 0.0 |
Days Since Change | 143 | 143 | 4 | 50 | 143 |
5-Month High | 0.61% | 4.00% | 4.66% | 2.51% | 0.01% |
5-Month Low | 0.61% | 4.00% | 4.31% | 0.05% | 0.01% |
Adjustments / Mo | 0.00 | 0.00 | 0.63 | 0.63 | 0.00 |
Volatility Score | 0.000 | 0.000 | 0.016 | 0.843 | 0.000 |
How to read these metrics(Click to expand)
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