Bank Of America vs. Wealthfront
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Bank of America vs. Wealthfront
Key Metrics at a Glance
| Feature | Bank of America | Wealthfront |
|---|---|---|
| Top Savings APY | 0.01% Advantage Savings | 4.15% Cash Account |
| Minimum to Open | $100 | $0 |
| Minimum Balance for Top APY | $0 | |
| Note | 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 4.15% for 3 months, after which the 3.50% APY applies. See terms at Wealthfront. |
Bank of America
Strengths
- Bank of America has an A+ BBB rating, indicating strong trustworthiness.
- The Advantage Savings account has a low minimum deposit requirement of $100.
Potential Drawbacks
- The current APY for Bank of America's Advantage Savings is only 0.01%.
- Bank of America charges an $8 monthly maintenance fee.
Wealthfront
Strengths
- Wealthfront offers a competitive APY of 4.15% for new clients for 3 months.
- There are no maintenance fees for Wealthfront's Cash Account.
Potential Drawbacks
- Wealthfront has an F BBB rating and is not BBB accredited.
- The Cash Account requires a direct deposit to maintain the higher APY after 3 months.
→ As of November 12, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Wealthfront's 4.15% APY for its Cash Account, with a minimum balance of $0.
→ Wealthfront yields $414 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Wealthfront pays $415 - an APY advantage for Wealthfront.
Calculate Savings Growth for Bank of America vs Wealthfront
Bank of America - Advantage Savings
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewWealthfront - Cash Account
Total savings breakdown:
- Interest earned: $2,531.8 (12.33%)
- Total contributions: $13,000 (63.32%)
- Initial deposit: $5,000 (24.35%)
Your total balance
$20,531.80
Total balance: $20,531.8
Earnings: $2,531.8
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,526.1 lower than Wealthfront's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bank of America's vs Wealthfront's Savings Accounts
| Bank of America | Wealthfront | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Cash Account |
| APY | 0.01% (as of 11/12/2025) | 3.50% - 4.15% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $100 | $0 | |
| Minimum Balance for APY | N/A | $0 | |
| Maintenance Fee | $8 | $0 | |
| Direct Deposit Required | No | No | |
| Note | 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 4.15% for 3 months, after which the 3.50% APY applies. See terms at Wealthfront. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.9/5 | |
| BBB Rating | A+ | F |
No historical data available.