BMO Alto vs. Wealthfront
Comparing BMO Alto and Wealthfront for high-yield savings: BMO Alto's Savings Account pays 3.15% APY while Wealthfront's Cash Account pays 4.20% APY (including a 3-month 0.90% 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 $38 more than BMO Alto annually ($353 vs $315).
Choose BMO Alto if you want a no-strings-attached account, you want to avoid a promo rate with a scheduled drop, or BBB rating matters to you. Choose Wealthfront if getting the best rate matters most, you're an iPhone user (no iOS app for BMO Alto), or you're an Android user (no Android app for BMO Alto).
Important Considerations
The key difference? Wealthfront's 4.20% rate includes a promotional bonus for the first 3 months, after which it reverts to the standard rate (currently 3.30%). BMO Alto's 3.15% rate has no scheduled drop, though all rates are subject to change.
| Metric | BMO AltoSavings Account Apr 7, 2026 | WealthfrontCash Account Apr 7, 2026 |
|---|---|---|
| APY | 3.15% | 3.30% - 4.20% |
Est. Earnings | $5,000+$158 $10,000+$315 $25,000+$788 | $5,000+$176 $10,000+$353 $25,000+$881 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New customers may earn the top rate of 4.20% for 3 months with direct deposit. See terms at Wealthfront. |
| Features | FDIC InsuredNo MinimumsDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing BMO Alto vs. Wealthfront
Executive Summary
BMO Alto offers a high-yield online Savings Account with an APY of 3.15%, which features no minimum deposit or maintenance fees and compounds daily. In contrast, Wealthfront's Cash Account provides a higher APY of 4.20%, also with no minimum deposit or maintenance fees, and compounds daily. Wealthfront's account is particularly notable for its simplicity, as it does not require bundling or direct deposit for the advertised rate. Both accounts are online-only and FDIC-insured, but Wealthfront stands out as the winner due to its superior APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why BMO Alto?
No distinct advantages found vs Wealthfront.
Why Wealthfront?
- ✓Higher potential APY (4.20% vs 3.15%) on all balances
- ✓Higher rated iOS app (4.8 vs 0.0)
- ✓Higher rated Android app (4.9 vs 0.0)
— Key Feature Differences —
Better Returns at $10,000
WealthfrontWealthfront's Cash Account earns more on smaller deposits (approx. $353 vs $315/yr).
Better Returns at $25,000
WealthfrontWealthfront's Cash Account pulls ahead with larger amounts (approx. $881 vs $788/yr).
Best for Simplicity
WealthfrontWealthfront's Cash Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
WealthfrontWealthfront offers an iOS app rated 4.8 (vs. 0.0) and Android app rated 4.9 (vs. 0.0)
Shared Benefits
Over a 1-year period (factoring in a 3-month promo), Wealthfront's Cash Account pays $38 more interest on a $10,000 balance than BMO Alto's Savings Account.
*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
BMO Alto vs. Wealthfront Savings Calculator
You earn $39.2 more with Wealthfront than BMO Alto 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.
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
Wealthfront
Cash Account
Promo Rate: 4.20% for 3 months, then 3.30%.
Savings Breakdown
- Interest Earned+$354.20(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,354.20
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $314 per year in interest.
Both BMO Alto and Wealthfront dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | BMO Alto | Wealthfront |
|---|---|---|
| APY | 3.15% Verified: 4/7/2026 ↘︎ 0.10%90d Change | 4.20% Range: 3.30% - 4.20% Verified: 4/7/2026 ↗︎ 0.30%90d Change |
| Product Name | Savings Account | Cash Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS- Android- | |
| FDIC Insured | YesVerify FDIC | Yes |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | F |
| Important Notes | - | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New customers may earn the top rate of 4.20% for 3 months with direct deposit. See terms at Wealthfront. |
| Next Steps | Visit SiteVerify at BMO Alto Non-sponsored link to official site | Visit SiteVerify at Wealthfront Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | BMO Alto | Wealthfront |
|---|---|---|
| Savings Account | Cash Account | |
Current APY | 3.15% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.8 | 1.5 |
Days Since Change | 49 | 33 |
5-Month High | 3.25% | 4.20% |
5-Month Low | 3.15% | 3.90% |
Adjustments / Mo | 0.21 | 0.62 |
Volatility Score | 0.015 | 0.032 |
How to read these metrics(Click to expand)
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More Comparisons
Compare BMO Alto's APY of 3.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| BMO Alto vs Ally Bank | 3.20% | $0 |
| BMO Alto vs American Express | 3.20% | $0 |
| BMO Alto vs Axos Bank | 4.21% | $0 |
| BMO Alto vs Barclays | 3.85% | $0 |
| BMO Alto vs Capital One | 3.20% | $0 |
| BMO Alto vs Chime | 3.00% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs Discover Bank | 3.30% | $0 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.65% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $0.01 |
| BMO Alto vs Openbank | 4.00% | $500 |
| BMO Alto vs Pibank | 4.60% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Synchrony Bank | 3.50% | $0 |
| BMO Alto vs Varo Bank | 5.00% | $0 |