Axos Bank vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Axos BankAxos ONE Jan 21, 2026 | Wells FargoPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 4.31% | 0.05% |
Est. Earnings | $5,000+$216 $10,000+$431 $25,000+$1,078 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | 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. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking Bundle | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking Bundle |
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Comparison Analysis
Comparing Axos Bank vs. Wells Fargo
As of Axos Bank offers an APY of 4.31% for its Axos ONE account, with a minimum balance of $0, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
Axos Bank pays $426 more than Wells Fargo on a $10,000 balance after one year. Axos Bank pays $431, while Wells Fargo pays $5 - an APY advantage for Axos Bank.
In addition, Axos Bank also offers 3.75% APY for the Summit Savings account, with a minimum balance of $0, while Wells Fargo offers 0.01% APY for the Way2Save Savings account, with a minimum balance of $0.
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (3.75%-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.)
- ✓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. $431 vs $5/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1078 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. 4.5)
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.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Axos Bank offers a competitive savings option with its Axos ONE account, providing a high APY of 4.31%, available through a checking and savings bundle that requires either a direct deposit of $1,500 or monthly qualifying deposits of at least $5,000. In contrast, Wells Fargo's highest APY from its savings products is a mere 0.05% with the Platinum Savings account, which requires a substantial minimum balance and is linked to a checking account. Overall, Axos Bank stands out significantly with its higher yield, while Wells Fargo's offerings are much lower in comparison.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Axos Bank vs. Wells Fargo Savings Calculator
You earn $426 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+$431.00(4.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,431.00
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 | 4.31% Verified: 1/21/2026 ↘︎ 0.20%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 1/21/2026 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. |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | Yes |
| Mobile Apps | iOS4.7 Android4.5 | iOS4.9 Android4.8 |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| 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 | 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% | 4.31% | 0.61% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.3 | -4.2 | 0.0 | -56.6 | 0.0 |
Days Since Change | 41 | 50 | 189 | 96 | 189 |
6-Month High | 4.00% | 4.66% | 0.61% | 2.51% | 0.01% |
6-Month Low | 3.75% | 4.31% | 0.61% | 0.05% | 0.01% |
Adjustments / Mo | 0.16 | 0.47 | 0.00 | 0.47 | 0.00 |
Volatility Score | 0.028 | 0.023 | 0.000 | 1.163 | 0.000 |
How to read these metrics(Click to expand)
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