Bread Savings vs. Wells Fargo
Comparing Bread Savings and Wells Fargo for savings: Bread Savings's High-Yield Savings Account pays 4.00% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Wells Fargo requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Bread Savings pays $395 more than Wells Fargo annually ($400 vs $5).
Choose Bread Savings if getting the best rate matters most, or you want a no-strings-attached account. Choose Wells Fargo if you value in-person banking, or you want Zelle for quick transfers.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Bread Savings offers its savings account standalone.
| Metric | Bread SavingsHigh-Yield Savings Account Feb 6, 2026 | Wells FargoPlatinum Savings Feb 6, 2026 |
|---|---|---|
| APY | 4.00% | 0.05% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $100 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | - | 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 InsuredLow MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily 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 Bread Savings vs. Wells Fargo
Executive Summary
Bread Savings offers a High-Yield Savings Account with a competitive APY of 4.00%, making it a strong choice for savers looking for higher returns without the need for direct deposit or account bundling. This account is online-only and requires a minimum deposit of $100, with no maintenance fees. In contrast, Wells Fargo's savings options, including the Way2Save Savings with a mere 0.01% APY and the Platinum Savings at 0.05%, offer significantly lower yields. While Wells Fargo provides a robust mobile app experience, its savings products do not match the returns of Bread Savings, making Bread the clear winner based on 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 Bread Savings?
- ✓Higher potential APY (4.00% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Physical branch access (Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
Bread SavingsBread Savings's High-Yield Savings Account earns more on smaller deposits (approx. $400 vs $5/yr).
Better Returns at $25,000
Bread SavingsBread Savings's High-Yield Savings Account pulls ahead with larger amounts (approx. $1000 vs $13/yr).
Best for Simplicity
Bread SavingsBread Savings's High-Yield Savings Account offers 4.00% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Wells FargoWells Fargo offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 4.6)
Shared Benefits
Over a 1-year period, Bread Savings's High-Yield Savings Account pays $395 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bread Savings vs. Wells Fargo Savings Calculator
You earn $395 more with Bread Savings 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.
Bread Savings
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
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 | Bread Savings | Wells Fargo |
|---|---|---|
| APY | 4.00% Verified: 2/6/2026 ↘︎ 0.20%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 2/6/2026 Stable (90d) |
| Product Name | High-Yield Savings Account | Platinum Savings |
| Minimum Deposit | $100 | $25 |
| Min. Balance for APY | $0 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | Wells Fargo offers branches and ATMs in 36 states and Washington, D.C. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | A- |
| Important Notes | - | 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 SiteVerify at Bread Savings Non-sponsored link to official site | Visit SiteVerify at Wells Fargo Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bread Savings | Wells Fargo | |
|---|---|---|---|
| High-Yield Savings Account | Platinum Savings | Way2Save Savings | |
Current APY | 4.00% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -4.3 | -51.1 | 0.0 |
Days Since Change | 21 | 112 | 206 |
7-Month High | 4.25% | 2.51% | 0.01% |
7-Month Low | 4.00% | 0.05% | 0.01% |
Adjustments / Mo | 0.73 | 0.44 | 0.00 |
Volatility Score | 0.022 | 1.252 | 0.000 |
How to read these metrics(Click to expand)
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Compare Bread Savings' APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Bread Savings vs Ally Bank | 3.30% | $0 |
| Bread Savings vs American Express | 3.30% | $0 |
| Bread Savings vs Axos Bank | 4.21% | $0 |
| Bread Savings vs Bank of America | 0.01% | $100 |
| Bread Savings vs Barclays | 4.00% | $0 |
| Bread Savings vs Capital One | 3.30% | $0 |
| Bread Savings vs Chase Bank | 0.01% | $0 |
| Bread Savings vs Chime | 3.00% | $0 |
| Bread Savings vs CIT Bank | 3.75% | $100 |
| Bread Savings vs Citibank | 3.20% | $0 |
| Bread Savings vs Discover Bank | 3.30% | $0 |
| Bread Savings vs EverBank | 3.90% | $0 |
| Bread Savings vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bread Savings vs Newtek Bank | 4.20% | $0.01 |
| Bread Savings vs Openbank | 4.09% | $500 |
| Bread Savings vs Pibank | 4.60% | $0 |
| Bread Savings vs SoFi Bank | 4.00% | $0 |
| Bread Savings vs Synchrony Bank | 3.50% | $0 |
| Bread Savings vs Varo Bank | 5.00% | $0 |
| Bread Savings vs Wealthfront | 3.95% | $0 |