Bank of America vs. Wealthfront
Comparing Bank of America and Wealthfront for savings: Bank of America's Advantage Savings pays 0.01% APY while Wealthfront's Cash Account pays 3.95% APY (including a 3-month 0.65% promo boost).
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Wealthfront pays $345 more than Bank of America annually ($346 vs $1).
Choose Bank of America if you want a no-strings-attached account, you want to avoid a promo rate with a scheduled drop, BBB rating matters to you, or you want Zelle for quick transfers. Choose Wealthfront if getting the best rate matters most.
Important Considerations
The key difference? Wealthfront's 3.95% rate includes a promotional bonus for the first 3 months, after which it reverts to the standard rate (currently 3.30%). Bank of America's 0.01% rate has no scheduled drop, though all rates are subject to change.
| Metric | Bank of AmericaAdvantage Savings Feb 21, 2026 | WealthfrontCash Account Feb 21, 2026 |
|---|---|---|
| APY | 0.01% | 3.30% - 3.95% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$173 $10,000+$346 $25,000+$866 |
Min Deposit | $100 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 3.95% for 3 months, after which the 3.30% APY applies. See terms at Wealthfront. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily 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 Bank of America vs. Wealthfront
Executive Summary
Wealthfront offers a competitive Cash Account with an APY of 3.95%, significantly higher than Bank of America's Advantage Savings, which yields only 0.01%. Wealthfront's account requires no minimum deposit or balance, and there are no maintenance fees, making it an attractive option for those seeking simplicity. In contrast, Bank of America requires a $100 minimum deposit and charges an $8 monthly fee, which can be waived under certain conditions. While both accounts are FDIC-insured, Wealthfront's Cash Account is online-only, providing a straightforward digital banking experience.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bank of America?
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Wealthfront?
- ✓Higher potential APY (3.95% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
WealthfrontWealthfront's Cash Account earns more on smaller deposits (approx. $346 vs $1/yr).
Better Returns at $25,000
WealthfrontWealthfront's Cash Account pulls ahead with larger amounts (approx. $866 vs $3/yr).
Best for Simplicity
WealthfrontWealthfront's Cash Account offers 3.95% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period (factoring in a 3-month promo), Wealthfront's Cash Account pays $345 more interest on a $10,000 balance than Bank of America's Advantage Savings.
*Wealthfront's calculation includes their 3-month introductory promotional rate and subsequent standard rate.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bank of America vs. Wealthfront Savings Calculator
You earn $346.5 more with Wealthfront than Bank of America 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.
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
Wealthfront
Cash Account
Promo Rate: 3.95% for 3 months, then 3.30%.
Savings Breakdown
- Interest Earned+$347.50(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,347.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Wealthfront |
|---|---|---|
| APY | 0.01% Verified: 2/21/2026 Stable (90d) | 3.95% Range: 3.30% - 3.95% Verified: 2/21/2026 ↘︎ 0.20%90d Change |
| Product Name | Advantage Savings | Cash Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | Yes |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Not Supported |
| BBB Rating | A+ | F |
| Important Notes | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 3.95% for 3 months, after which the 3.30% APY applies. See terms at Wealthfront. |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Wealthfront Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Wealthfront |
|---|---|---|
| Advantage Savings | Cash Account | |
Current APY | 0.01% | 3.95% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -8.6 |
Days Since Change | 67 | 22 |
3-Month High | 0.03% | 4.15% |
3-Month Low | 0.01% | 3.90% |
Adjustments / Mo | 0.60 | 0.60 |
Volatility Score | 0.194 | 0.028 |
How to read these metrics(Click to expand)
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