Citibank vs. Wells Fargo
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Citibank vs. Wells Fargo
Key Metrics at a Glance
| Feature | Citibank | Wells Fargo |
|---|---|---|
| Top Savings APY | 3.35% Citi Accelerate Savings | 0.05% Platinum Savings |
| Minimum to Open | $0 | $25 |
| Minimum Balance for Top APY | $0.01 | $1,000,000 |
| Note | 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. |
Citibank
Strengths
- Citi Accelerate Savings offers a competitive APY of 3.35%, higher than Wells Fargo's best rate.
- Citi Accelerate Savings has no minimum deposit requirement.
- Citi Accelerate Savings maintenance fee is waived with a lower balance of $500.
Potential Drawbacks
- Citibank's BBB rating is D- and it is not BBB Accredited.
- Citi Accelerate Savings has a maintenance fee of $4.50.
- Citibank has limited branch availability, focusing on six metropolitan areas.
Wells Fargo
Strengths
- Wells Fargo offers a wider branch network with locations in 36 states.
- Wells Fargo's Platinum Savings account allows higher APY with a $1,000,000 balance.
- Wells Fargo's Way2Save Savings account has a low minimum deposit of $25.
Potential Drawbacks
- Wells Fargo's highest APY is only 0.05%, significantly lower than Citibank's.
- Wells Fargo's Platinum Savings has a high maintenance fee of $12.
- Wells Fargo's APY for Way2Save Savings is only 0.01%.
Summary: Citibank's Citi Accelerate Savings account stands out with a 3.35% APY and no minimum deposit, while Wells Fargo offers lower rates, with a maximum of 0.05% for high balances. Both banks share a D- BBB rating and limited branch accessibility, but Citibank's fees are lower for maintaining the account. Wells Fargo provides a broader branch network but at the cost of lower interest rates and higher fees.
→ As of November 12, 2025 Citibank offers an APY of 3.35% for its Citi Accelerate 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.
→ Citibank yields $330 more than Wells Fargo on a $10,000 balance after one year. Citibank pays $335, while Wells Fargo pays $5 - an APY advantage for Citibank.
→ In addition, Citibank also offers 0.03% APY for the Citi® Savings Account account, while Wells Fargo offers 0.01% APY for the Way2Save Savings account.
Calculate Savings Growth for Citibank vs Wells Fargo
All calculations are based on APY.
Citibank - Citi Accelerate Savings
Top APY: 3.35%
Total savings breakdown:
- Interest earned: $2,018.8 (10.08%)
- Total contributions: $13,000 (64.94%)
- Initial deposit: $5,000 (24.98%)
Your total balance
$20,018.80
Effective APY: 3.35% (based on your deposit and contributions)
Total balance: $20,018.8
Earnings: $2,018.8
Bank OverviewWells Fargo - Platinum Savings
Top 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, Citibank's total earnings would be $1,990.2 higher than Wells Fargo's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Citibank's vs Wells Fargo's Savings Accounts
| Citibank | Wells Fargo | ||||
|---|---|---|---|---|---|
| Product | Citi Accelerate Savings | Citi® Savings Account | vs | Way2Save Savings | Platinum Savings |
| APY | 3.35% (as of 11/12/2025) | 0.03% (as of 11/12/2025) | 0.01% (as of 11/12/2025) | 0.05% - 0.05% (as of 11/12/2025) | |
| Bundled Account | No | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | No | No | No | |
| Compound Frequency | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $25 | $25 | |
| Minimum Balance for APY | $0.01 | $0.01 | $0 | $1,000,000 | |
| Maintenance Fee | $4.50. Waived for average monthly balances > $500 | $4.50. Waived for average monthly balances > $500 | $5. Waived under some circumstances. | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | No | No | No | No | |
| Eligibility | Alaska, Alabama, Arkansas, Arizona, Colorado, Delaware, Florida (select parts), Georgia, Hawaii, Iowa, Idaho, Illinois (select parts), Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia (partial), Washington (partial), Wisconsin, West Virginia, Wyoming. | California, Connecticut, Maryland, Nevada, New Jersey, New York, Virginia (partial), Washington D.C., and select parts of Florida and Illinois. In addition, promotional rates may be available if requirements are met. | United States | United States | |
| Note | 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 | 4.9/5 | 4.9/5 | |||
| Google Play Rating | 4.8/5 | 4.8/5 | |||
| BBB Rating | D- | D- | |||
Comparative Historical APY Insights (Last 4 Months)
| Citibank | Wells Fargo | ||||
|---|---|---|---|---|---|
| Product | Citi® Savings Account | Citi Accelerate Savings | vs | Platinum Savings | Way2Save Savings |
| Latest APY | 0.03 % | 3.35 % | 0.05 % | 0.01 % | |
| Trend | Sideways | Sideways | Falling | Sideways | |
| Slope (bps/mo) | 0.0 | -4.2 | -70.3 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.50 | 0.74 | 0.00 | |
| Days Since Last Change | 121 | 9 | 27 | 121 | |
| High (-4 m) | 0.03 % | 3.50 % | 2.51 % | 0.01 % | |
| Low (-4 m) | 0.03 % | 3.35 % | 0.05 % | 0.01 % | |
| Draw-down from High | 0.0 % | -4.3 % | -98.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.016 | 0.600 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 4 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 (-4 m)
- Highest APY in the last 121 days.
- Low (-4 m)
- Lowest APY in the last 121 days.
- Draw-down from High
- How far today sits below the 4-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.