Axos Bank vs. Wells Fargo
Comparing Axos Bank and Wells Fargo for savings: Axos Bank's Axos ONE pays 4.21% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Axos Bank pays $416 more than Wells Fargo annually ($421 vs $5).
Choose Axos Bank if getting the best rate matters most. Choose Wells Fargo if you value in-person banking, or you want Zelle for quick transfers.
Important Considerations
Both banks require a checking account to access their highest savings rates.
| Metric | Axos BankAxos ONE Mar 7, 2026 | Wells FargoPlatinum Savings Mar 7, 2026 |
|---|---|---|
| APY | 4.21% | 0.05% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.21% 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. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
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
Executive Summary
Axos Bank offers a competitive savings option with its Axos ONE product, yielding an APY of 4.21% when bundled with a checking account, which requires either a direct deposit of $1,500 or total monthly deposits of at least $5,000. This contrasts sharply with Wells Fargo's savings accounts, where the highest APY is just 0.05% for the Platinum Savings account, which necessitates a significant balance and linking to a checking account. While Wells Fargo provides a traditional banking experience with a mobile app rated highly, Axos Bank stands out for its superior interest rates and online-only accessibility.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (3.75%-4.21% 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.)
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE earns more on smaller deposits (approx. $421 vs $5/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $13/yr).
Best for Simplicity
Axos BankAxos Bank's Summit Savings offers 3.75% 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 $416 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.
* Secure link to our partner
Non-sponsored link to official site
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Axos Bank vs. Wells Fargo Savings Calculator
You earn $416 more with Axos Bank 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.
Axos Bank
Axos ONE
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
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 | Axos Bank | Wells Fargo |
|---|---|---|
| APY | 4.21% Verified: 3/7/2026 ↘︎ 0.10%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 3/7/2026 Stable (90d) |
| 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. |
| 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. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | 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 | The 4.21% 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 | Visit SiteGo to Axos Bank * Secure link to our partner | Visit SiteVerify at Wells Fargo Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Wells Fargo | |||
|---|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.75% | 4.21% | 0.61% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.6 | -5.0 | 0.0 | -42.5 | 0.0 |
Days Since Change | 86 | 35 | 235 | 141 | 235 |
8-Month High | 4.00% | 4.66% | 0.61% | 2.51% | 0.01% |
8-Month Low | 3.75% | 4.21% | 0.61% | 0.05% | 0.01% |
Adjustments / Mo | 0.13 | 0.51 | 0.00 | 0.38 | 0.00 |
Volatility Score | 0.032 | 0.030 | 0.000 | 1.394 | 0.000 |
How to read these metrics(Click to expand)
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