Bank of America vs. Wealthfront
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 7, 2026 | WealthfrontCash Account Jan 7, 2026 |
|---|---|---|
| APY | 0.01% | 3.25% - 3.90% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$171 $10,000+$341 $25,000+$853 |
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 3.90% for 3 months, after which the 3.25% APY applies. See terms at Wealthfront. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Bank of America vs. Wealthfront
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Wealthfront's 3.90% APY for its Cash Account, with a minimum balance of $0.
Wealthfront pays $340 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Wealthfront pays $341 (with an effective APY of 3.41%) - an APY advantage for Wealthfront.
Why Bank of America?
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Wealthfront?
- ✓Higher potential APY (3.90% 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. $341 vs $1/yr).
Better Returns at $25,000
WealthfrontWealthfront's Cash Account pulls ahead with larger amounts (approx. $853 vs $3/yr).
Best for Simplicity
WealthfrontWealthfront's Cash Account offers 3.90% 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 $340 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.
Executive Summary as of
Wealthfront offers a superior Cash Account with an APY of 3.90%, significantly higher than Bank of America's Advantage Savings, which yields only 0.01%. Wealthfront's account has no minimum deposit or balance requirements, and it charges no maintenance fees, making it an attractive option for savers. In contrast, Bank of America requires a $100 minimum deposit and has an $8 monthly fee, although this can be waived under certain conditions. Wealthfront's account is online-only and provides a promotional rate for new clients, while Bank of America is accessible through traditional banking channels.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bank of America vs. Wealthfront Savings Calculator
You earn $341.5 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: 3.90% for 3 months, then 3.25%.
Savings Breakdown
- Interest Earned+$342.50(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,342.50
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: 1/7/2026 Stable (90d) | 3.90% Range: 3.25% - 3.90% Verified: 1/7/2026 - |
| Product Name | Advantage Savings | Cash Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.9 |
| 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 3.90% for 3 months, after which the 3.25% 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% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -18.8 |
Days Since Change | 22 | 19 |
2-Month High | 0.03% | 4.15% |
2-Month Low | 0.01% | 3.90% |
Adjustments / Mo | 1.09 | 0.55 |
Volatility Score | 0.258 | 0.030 |
How to read these metrics(Click to expand)
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