Citibank vs. Wells Fargo
Comparing Citibank and Wells Fargo for savings: Citibank's Citi Accelerate Savings pays 3.20% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Wells Fargo requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Citibank pays $315 more than Wells Fargo annually ($320 vs $5).
Choose Citibank if getting the best rate matters most, or you want a no-strings-attached account. Choose Wells Fargo if BBB rating matters to you, or you value in-person banking.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Citibank offers its savings account standalone.
Citibank's Accelerate Savings is only available in select states where Citi has no branch presence. Check eligibility before applying.
| Metric | CitibankCiti Accelerate Savings Feb 21, 2026 | Wells FargoPlatinum Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.20% | 0.05% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | Eligibility restricted to select states. | 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 AppZelle® SupportedDaily CompoundingRate Changes Often | 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 Citibank vs. Wells Fargo
Executive Summary
Citibank offers the Citi Accelerate Savings account, which provides a competitive APY of 3.20%, making it a strong choice for savers, particularly those in eligible states. This account has no direct deposit requirement and allows for a minimum deposit of $0, with a maintenance fee that can be waived by maintaining an average monthly balance over $500. In contrast, Wells Fargo's highest yield is found in the Platinum Savings account, which offers only 0.05% APY but requires a minimum balance of $1,000,000 and is linked to a Premier checking account. Overall, Citibank's offering significantly outperforms Wells Fargo's 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 Citibank?
- ✓Higher potential APY (3.20% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Offers 2 different high-yield savings options
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
CitibankCitibank's Citi Accelerate Savings earns more on smaller deposits (approx. $320 vs $5/yr).
Better Returns at $25,000
CitibankCitibank's Citi Accelerate Savings pulls ahead with larger amounts (approx. $800 vs $13/yr).
Best for Simplicity
CitibankCitibank's Citi Accelerate Savings offers 3.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Citibank's Citi Accelerate Savings pays $315 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Citibank vs. Wells Fargo Savings Calculator
You earn $315 more with Citibank 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.
Citibank
Citi Accelerate Savings
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
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 | Citibank | Wells Fargo |
|---|---|---|
| APY | 3.20% Verified: 2/21/2026 ↘︎ 0.10%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 2/21/2026 Stable (90d) |
| Product Name | Citi Accelerate Savings | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0.01 | $1,000,000 |
| Monthly Fee | $4.50. Waived for average monthly balances > $500 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. | 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: $2,500/dayTiered limits based on account status (Citigold higher). | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | D- | A- |
| Important Notes | Eligibility restricted to select states. | 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 Citibank 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 | Citibank | Wells Fargo | ||
|---|---|---|---|---|
| Citi® Savings Account | Citi Accelerate Savings | Platinum Savings | Way2Save Savings | |
Current APY | 0.03% | 3.20% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -4.5 | -46.5 | 0.0 |
Days Since Change | 221 | 25 | 127 | 221 |
7-Month High | 0.03% | 3.50% | 2.51% | 0.01% |
7-Month Low | 0.03% | 3.20% | 0.05% | 0.01% |
Adjustments / Mo | 0.00 | 0.54 | 0.41 | 0.00 |
Volatility Score | 0.000 | 0.029 | 1.328 | 0.000 |
How to read these metrics(Click to expand)
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