Chase Bank vs Wells Fargo
High-Yield Savings Accounts Comparison
Last Updated: July 15, 2025
Summary of Chase Bank vs. Wells Fargo
As of July 15, 2025 Chase Bank offers an APY of 0.01% for its Chase Savings℠ account, compared to Wells Fargo's 2.51% APY for its Platinum Savings account.
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 (with an effective APY of 0.05%) - an APY advantage for Wells Fargo.
Chase Bank
Strengths
- Chase Bank has a higher App Store rating of 4.8 compared to Wells Fargo's 4.9.
- Chase Bank's savings account has no minimum deposit requirement.
Potential Drawbacks
- Chase Bank offers a very low APY of 0.01%, unchanged from 30 days ago.
- Chase Bank charges a $5 maintenance fee, which may be waived under certain conditions.
Wells Fargo
Strengths
- Wells Fargo offers a competitive APY of 2.51% for balances over $1,000,000.
- Wells Fargo has branches and ATMs in 36 states and Washington, D.C.
Potential Drawbacks
- Wells Fargo's BBB rating is an F and it is not BBB Accredited.
- Wells Fargo requires a minimum deposit of $25 and a minimum balance of $1,000,000 for the highest APY.
Summary: Chase Bank's savings account features a low APY of 0.01% and no minimum deposit, while Wells Fargo offers a significantly higher APY of 2.51% for large balances but has a poor BBB rating and high minimum balance requirements. Additionally, Wells Fargo has a wider branch network compared to Chase Bank, which lacks physical branches.
Compare Chase Bank's vs Wells Fargo's Savings Accounts
| Chase Bank | Wells Fargo | ||
|---|---|---|---|
| Product | Chase Savings℠ | vs | Platinum Savings |
| APY | 0.01% (as of 7/15/2025) | 0.05% - 2.51% (as of 7/16/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | No | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $0 | $25 | |
| Minimum Balance for APY | $0 | $1,000,000 | |
| Maintenance Fee | $5 | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | 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 2.51%% 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. | |
| Visit Bank | Chase Savings℠ | Platinum Savings | |
| App Store Rating | 4.8/5 | 4.9/5 | |
| Google Play Rating | 4.5/5 | 4.8/5 | |
| BBB Rating | A- | F |
No historical data available.
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: $0.1 (0.01%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (99.99%)
Your total balance
$1,000.10
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $1,000.1
Earnings: $0.1
Bank DetailsWells Fargo
APY: 2.51%
Total savings breakdown:
- Interest earned: $25.1 (2.45%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (97.55%)
Your total balance
$1,025.10
Effective APY: 2.51% (based on your deposit and contributions)
Total balance: $1,025.1
Earnings: $25.1
Bank DetailsAfter 1 year Chase Bank would earn you $25 less than Wells Fargo.
More Comparisons
Compare Chase Bank's APY of 0.01% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Chase Bank vs Ally Bank | 3.50% | $0 |
| Chase Bank vs American Express | 3.60% | $0 |
| Chase Bank vs Axos Bank | 4.66% | $0 |
| Chase Bank vs Bank of America | 0.01% | $100 |
| Chase Bank vs Barclays | 4.10% | $0 |
| Chase Bank vs Capital One | 3.50% | $0 |
| Chase Bank vs Chime | 3.75% | $0 |
| Chase Bank vs CIT Bank | 4.00% | $100 |
| Chase Bank vs Discover Bank | 3.50% | $0 |
| Chase Bank vs Fitness Bank | 5.00% | $100 |
| Chase Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chase Bank vs Presidential Bank | 4.50% | $5,000 |
| Chase Bank vs SoFi Bank | 3.80% | $0 |
| Chase Bank vs Synchrony Bank | 3.80% | $0 |
| Chase Bank vs Varo Bank | 5.00% | $0 |
Compare Wells Fargo's APY of 2.51% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Wells Fargo vs Ally Bank | 3.50% | $0 |
| Wells Fargo vs American Express | 3.60% | $0 |
| Wells Fargo vs Axos Bank | 4.66% | $0 |
| Wells Fargo vs Bank of America | 0.01% | $100 |
| Wells Fargo vs Barclays | 4.10% | $0 |
| Wells Fargo vs Capital One | 3.50% | $0 |
| Wells Fargo vs Chime | 3.75% | $0 |
| Wells Fargo vs CIT Bank | 4.00% | $100 |
| Wells Fargo vs Discover Bank | 3.50% | $0 |
| Wells Fargo vs Fitness Bank | 5.00% | $100 |
| Wells Fargo vs Marcus by Goldman Sachs | 3.65% | $0 |
| Wells Fargo vs Presidential Bank | 4.50% | $5,000 |
| Wells Fargo vs SoFi Bank | 3.80% | $0 |
| Wells Fargo vs Synchrony Bank | 3.80% | $0 |
| Wells Fargo vs Varo Bank | 5.00% | $0 |