Chase Bank vs. Wells Fargo
High-Yield Savings Account Comparison
Last Updated: October 14, 2025
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Summary of Chase Bank vs. Wells Fargo
Key Metrics at a Glance
| Feature | Chase Bank | Wells Fargo |
|---|---|---|
| Top Savings APY | 0.01% Chase Savings℠ | 0.05% Platinum Savings |
| Minimum to Open | $0 | $25 |
| Minimum Balance for APY | $0 | $1,000,000 |
Chase Bank
Strengths
- Chase Bank has a higher App Store rating of 4.8 compared to Wells Fargo's 4.9.
- Chase Savings℠ requires no minimum deposit or balance to open.
Potential Drawbacks
- Chase Bank's current APY is only 0.01%, unchanged from 30 days ago.
- Chase Bank has a maintenance fee of $5, which can be waived under certain conditions.
Wells Fargo
Strengths
- Wells Fargo's Platinum Savings offers a higher APY of 0.05%, though it requires a $1,000,000 balance.
- Wells Fargo has a branch presence in 36 states and Washington, D.C.
Potential Drawbacks
- Wells Fargo's BBB rating is F and it is not accredited.
- Wells Fargo's Way2Save Savings account has a $25 minimum deposit requirement.
Summary: Chase Bank offers a lower APY of 0.01% with no minimum deposit for its savings account, while Wells Fargo's Platinum Savings provides a higher APY of 0.05% but requires a $1,000,000 balance. Chase has a better App Store rating, but Wells Fargo has a wider branch network. However, Wells Fargo's BBB rating is F, indicating trust issues, contrasting with Chase's A- rating.
→ As of October 14, 2025 Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, with a minimum balance of $0, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
→ Wells Fargo yields $4 more than Chase Bank on a $10,000 balance after one year. Chase Bank pays $1, while Wells Fargo pays $5 - an APY advantage for Wells Fargo.
→ In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account.
Calculate Savings Growth for Chase Bank vs Wells Fargo
All calculations are based on APY.
Chase Bank
APY: 0.01%
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
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewWells Fargo
APY: 0.05%
⚠️The higher APY only applies once your balance reaches $1,000,000.
Total savings breakdown:
- Interest earned: $28.6 (0.16%)
- Total contributions: $13,000 (72.11%)
- Initial deposit: $5,000 (27.73%)
Your total balance
$18,028.60
Effective APY: 0.05% (based on your deposit and contributions)
Total balance: $18,028.6
Earnings: $28.6
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Chase Bank's total earnings would be $22.9 lower than Wells Fargo's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Chase Bank's vs Wells Fargo's Savings Accounts
| Chase Bank | Wells Fargo | |||
|---|---|---|---|---|
| Product | Chase Savings℠ | vs | Way2Save Savings | Platinum Savings |
| APY | 0.01% (as of 10/14/2025) | 0.01% (as of 10/14/2025) | 0.05% - 0.05% (as of 10/14/2025) | |
| Bundled Account | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | No | No | No | |
| Compound Frequency | Monthly | Daily | Daily | |
| Minimum Deposit | $0 | $25 | $25 | |
| Minimum Balance for APY | $0 | $0 | $1,000,000 | |
| Maintenance Fee | $5 | $5. Waived under some circumstances. | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | No | No | No | |
| Note | 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. | ||
| App Store Rating | 4.8/5 | 4.9/5 | ||
| Google Play Rating | 4.5/5 | 4.8/5 | ||
| BBB Rating | A- | F | ||
Comparative Historical APY Insights (Last 3 Months)
| Chase Bank | Wells Fargo | |||
|---|---|---|---|---|
| Product | Chase Savings℠ | vs | Platinum Savings | Way2Save Savings |
| Latest APY | 0.01 % | 0.05 % | 0.01 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | 0.0 | -14.8 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.33 | 0.00 | |
| Days Since Last Change | 92 | 2 | 92 | |
| High (-3 m) | 0.01 % | 2.51 % | 0.01 % | |
| Low (-3 m) | 0.01 % | 0.05 % | 0.01 % | |
| Draw-down from High | 0.0 % | -98.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.176 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 3 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-3 m)
- Highest APY in the last 92 days.
- Low (-3 m)
- Lowest APY in the last 92 days.
- Draw-down from High
- How far today sits below the 3-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
More Comparisons
Compare Chase Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chase Bank vs Ally Bank | 3.40% | $0 |
| Chase Bank vs American Express | 3.50% | $0 |
| Chase Bank vs Axos Bank | 4.51% | $0 |
| Chase Bank vs Bank of America | 0.01% | $100 |
| Chase Bank vs Barclays | 4.10% | $0 |
| Chase Bank vs BrioDirect | 4.20% | $5,000 |
| Chase Bank vs Capital One | 3.40% | $0 |
| Chase Bank vs Chime | 3.75% | $0 |
| Chase Bank vs CIT Bank | 3.85% | $100 |
| Chase Bank vs Discover Bank | 3.40% | $0 |
| Chase Bank vs Elevault | 4.34% | $0 |
| Chase Bank vs EverBank | 4.05% | $0 |
| Chase Bank vs Fitness Bank | 4.75% | $100 |
| Chase Bank vs FVCbank | 4.10% | $500 |
| Chase Bank vs GO2bank | 4.50% | $0 |
| Chase Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chase Bank vs Neighbors Bank | 4.50% | $0 |
| Chase Bank vs Newtek Bank | 4.35% | $0 |
| Chase Bank vs Peak Bank | 4.20% | $100 |
| Chase Bank vs Pibank | 4.60% | $0 |
| Chase Bank vs Presidential Bank | 4.50% | $5,000 |
| Chase Bank vs Santander Bank | 0.01% | $25 |
| Chase Bank vs SoFi Bank | 4.50% | $0 |
| Chase Bank vs Synchrony Bank | 3.80% | $0 |
| Chase Bank vs TIMBR | 4.40% | $1,000 |
| Chase Bank vs UFB Direct | 3.96% | $5000 |
| Chase Bank vs Varo Bank | 5.00% | $0 |
| Chase Bank vs Zynlo Bank | 4.20% | $10 |
Compare Wells Fargo's APY of 0.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Wells Fargo vs Ally Bank | 3.40% | $0 |
| Wells Fargo vs American Express | 3.50% | $0 |
| Wells Fargo vs Axos Bank | 4.51% | $0 |
| Wells Fargo vs Bank of America | 0.01% | $100 |
| Wells Fargo vs Barclays | 4.10% | $0 |
| Wells Fargo vs BrioDirect | 4.20% | $5,000 |
| Wells Fargo vs Capital One | 3.40% | $0 |
| Wells Fargo vs Chime | 3.75% | $0 |
| Wells Fargo vs CIT Bank | 3.85% | $100 |
| Wells Fargo vs Discover Bank | 3.40% | $0 |
| Wells Fargo vs Elevault | 4.34% | $0 |
| Wells Fargo vs EverBank | 4.05% | $0 |
| Wells Fargo vs Fitness Bank | 4.75% | $100 |
| Wells Fargo vs FVCbank | 4.10% | $500 |
| Wells Fargo vs GO2bank | 4.50% | $0 |
| Wells Fargo vs Marcus by Goldman Sachs | 3.65% | $0 |
| Wells Fargo vs Neighbors Bank | 4.50% | $0 |
| Wells Fargo vs Newtek Bank | 4.35% | $0 |
| Wells Fargo vs Peak Bank | 4.20% | $100 |
| Wells Fargo vs Pibank | 4.60% | $0 |
| Wells Fargo vs Presidential Bank | 4.50% | $5,000 |
| Wells Fargo vs Santander Bank | 0.01% | $25 |
| Wells Fargo vs SoFi Bank | 4.50% | $0 |
| Wells Fargo vs Synchrony Bank | 3.80% | $0 |
| Wells Fargo vs TIMBR | 4.40% | $1,000 |
| Wells Fargo vs UFB Direct | 3.96% | $5000 |
| Wells Fargo vs Varo Bank | 5.00% | $0 |
| Wells Fargo vs Zynlo Bank | 4.20% | $10 |