Chime vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | ChimeChime High-Yield Savings Account Jan 21, 2026 | Wells FargoPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 1.00% - 3.50% | 0.05% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $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 InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking Bundle |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Chime vs. Wells Fargo
As of Chime offers an APY of 3.50% for its Chime High-Yield Savings Account, with a minimum balance of $0.01, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
Chime pays $345 more than Wells Fargo on a $10,000 balance after one year. Chime pays $350, while Wells Fargo pays $5 - an APY advantage for Chime.
In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account, with a minimum balance of $0.
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
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— 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.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Chime offers a competitive Chime High-Yield Savings Account with an APY of 3.50%, significantly higher than Wells Fargo's offerings, 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 requirement and no maintenance fees. In contrast, Wells Fargo's accounts have minimum deposits of $25 and may incur maintenance fees unless certain conditions are met. Chime's account is online-only, while Wells Fargo provides options with physical branch access.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
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Top Market Contenders
Chime vs. Wells Fargo Savings Calculator
You earn $345 more with Chime 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.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
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 | Chime | Wells Fargo |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 1/21/2026 Stable (90d) | 0.05% Range: 0.05% - 0.05% Verified: 1/21/2026 Stable (90d) |
| 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 Android4.8 | iOS4.9 Android4.8 |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| 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 | Visit SiteVerify at Chime 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 | 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) | -5.8 | -56.6 | 0.0 |
Days Since Change | 97 | 96 | 189 |
6-Month High | 3.75% | 2.51% | 0.01% |
6-Month Low | 3.50% | 0.05% | 0.01% |
Adjustments / Mo | 0.16 | 0.47 | 0.00 |
Volatility Score | 0.034 | 1.163 | 0.000 |
How to read these metrics(Click to expand)
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