Chase Bank vs. Wells Fargo
Wells Fargo edges out Chase Bank slightly at 0.05% vs 0.01% APY. On a $10,000 balance, the difference is just $4 per year—so other factors may matter more.
The Bottom Line
The Chase Bank and Wells Fargo savings accounts are very similar. Choose Chase Bank if you want a no-strings-attached account.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Chase Bank offers its savings account standalone.
| Metric | Chase BankChase Savings℠ Mar 7, 2026 | Wells FargoPlatinum Savings Mar 7, 2026 |
|---|---|---|
| APY | 0.01% | 0.05% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | 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 InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate | 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 Chase Bank vs. Wells Fargo
Executive Summary
Wells Fargo offers the highest APY of 0.05% with its Platinum Savings account, which requires a minimum balance of $1,000,000 and must be linked to a Wells Fargo Premier checking account for this rate. Alternatively, the Way2Save Savings account provides a lower APY of 0.01% with a minimum deposit of $25 and no balance requirement. In contrast, Chase Bank's Chase Savings℠ also has an APY of 0.01% with no minimum deposit or balance requirement, but it incurs a $5 maintenance fee that can be waived under certain conditions. Both banks provide FDIC insurance and do not require direct deposit for their savings products.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chase Bank?
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Offers 2 different high-yield savings options
Shared Benefits
Over a 1-year period, Wells Fargo's Platinum Savings pays $4 more interest on a $10,000 balance than Chase Bank's Chase 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
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Chase Bank vs. Wells Fargo Savings Calculator
You earn $4 more with Wells Fargo than Chase Bank 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.
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
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 | Chase Bank | Wells Fargo |
|---|---|---|
| APY | 0.01% Verified: 3/7/2026 Stable (90d) | 0.05% Range: 0.05% - 0.05% Verified: 3/7/2026 Stable (90d) |
| Product Name | Chase Savings℠ | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $1,000,000 |
| Monthly Fee | $5 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii. | 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 | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A- | A- |
| Important Notes | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | 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 Chase Bank 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 | Chase Bank | Wells Fargo | |
|---|---|---|---|
| Chase Savings℠ | Platinum Savings | Way2Save Savings | |
Current APY | 0.01% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -42.5 | 0.0 |
Days Since Change | 235 | 141 | 235 |
8-Month High | 0.01% | 2.51% | 0.01% |
8-Month Low | 0.01% | 0.05% | 0.01% |
Adjustments / Mo | 0.00 | 0.38 | 0.00 |
Volatility Score | 0.000 | 1.394 | 0.000 |
How to read these metrics(Click to expand)
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