Chime vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
Chime
Chime High-Yield Savings Account
Up to3.50%APYDec 6, 2025FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 1.00% – 3.50%Show Fine Print & Trends Hide Details
Chime
Chime High-Yield Savings Account
Wells Fargo
Platinum Savings
0.05%APYDec 6, 2025FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Wells Fargo
Platinum Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing Chime vs. Wells Fargo
Why Chime?
- ✓Higher potential APY (3.50% vs 0.01%-0.05%) on all balances
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
— Key Feature Differences —
Better Returns at $10,000
ChimeChime's Chime High-Yield Savings Account earns more on smaller deposits (approx. $350 vs $5/yr).
Better Returns at $25,000
ChimeChime's Chime High-Yield Savings Account pulls ahead with larger amounts (approx. $875 vs $13/yr).
Requires Banking Relationship
Both banks require a checking account bundle to access their highest rates.
Shared Benefits
Over a 1-year period, Chime's Chime High-Yield Savings Account pays $345 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
Executive Summary
Chime offers a competitive Chime High-Yield Savings Account with an APY of 3.50%, significantly higher than Wells Fargo's savings options, which include the Way2Save Savings account at 0.01% and the Platinum Savings account at 0.05%. Chime's account requires a qualifying direct deposit of $200 or more within the preceding 34 days, but has no minimum deposit or maintenance fees, and is online-only. In contrast, Wells Fargo's accounts require a minimum deposit of $25, with potential maintenance fees, and do not require direct deposit. Overall, Chime's high yield makes it the more attractive choice for savers.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
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See who beats both Chime and Wells Fargo.
| Feature | Chime | Wells Fargo |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 12/6/2025 ↘︎ 0.25%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 12/6/2025 ↘︎ 2.46%90d Change |
| Product Name | Chime High-Yield Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0.01 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | Yes |
| Mobile Apps | iOS4.8 Android4.7 | iOS4.9 Android4.8 |
| BBB Rating | A+ | D- |
| 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 |
Savings Comparison
Chime earns $2,085.5 more than Wells Fargo.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,114.10(10.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,114.10
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$28.60(0.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,028.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Chime | Wells Fargo | |
|---|---|---|---|
| Chime High-Yield Savings Account | Platinum Savings | Way2Save Savings | |
Current APY | 3.50% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -7.4 | -72.0 | 0.0 |
Days Since Change | 51 | 50 | 143 |
5-Month High | 3.75% | 2.51% | 0.01% |
5-Month Low | 3.50% | 0.05% | 0.01% |
Adjustments / Mo | 0.21 | 0.63 | 0.00 |
Volatility Score | 0.034 | 0.843 | 0.000 |
How to read these metrics(Click to expand)
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