FNBO Direct vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
FNBO Direct
High-Yield Online Savings Account
3.00%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
FNBO Direct
High-Yield Online 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 FNBO Direct vs. Wells Fargo
Why FNBO Direct?
- ✓Higher potential APY (3.00% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Physical branch access (Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.)
- ✓Higher rated iOS app (4.9 vs 4.5)
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
FNBO DirectFNBO Direct's High-Yield Online Savings Account earns more on smaller deposits (approx. $300 vs $5/yr).
Better Returns at $25,000
FNBO DirectFNBO Direct's High-Yield Online Savings Account pulls ahead with larger amounts (approx. $750 vs $13/yr).
Shared Benefits
Over a 1-year period, FNBO Direct's High-Yield Online Savings Account pays $295 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
Executive Summary
FNBO Direct offers a High-Yield Online Savings Account with a competitive APY of 3.00%, significantly outperforming Wells Fargo's highest APY of 0.05% available through its Platinum Savings account, which requires a linked checking account. FNBO Direct's account has no maintenance fees and only a $1 minimum deposit, making it accessible for savers. In contrast, Wells Fargo's Way2Save Savings account provides a minimal APY of 0.01% and has a $25 minimum deposit requirement, with a $5 monthly maintenance fee that can be waived under certain conditions. Overall, FNBO Direct is the clear winner for higher returns.
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 FNBO Direct and Wells Fargo.
| Feature | FNBO Direct | Wells Fargo |
|---|---|---|
| APY | 3.00% 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 | High-Yield Online Savings Account | Platinum Savings |
| Minimum Deposit | $1 | $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. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.5 Android4.8 | 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
FNBO Direct earns $1,769.6 more than Wells Fargo.
FNBO Direct
High-Yield Online Savings Account
Savings Breakdown
- Interest Earned+$1,798.20(9.1%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,798.20
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 | FNBO Direct | Wells Fargo | |
|---|---|---|---|
| High-Yield Online Savings Account | Platinum Savings | Way2Save Savings | |
Current APY | 3.00% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -8.3 | -79.5 | 0.0 |
Days Since Change | 64 | 50 | 134 |
4-Month High | 3.25% | 2.51% | 0.01% |
4-Month Low | 3.00% | 0.05% | 0.01% |
Adjustments / Mo | 0.22 | 0.67 | 0.00 |
Volatility Score | 0.040 | 0.900 | 0.000 |
How to read these metrics(Click to expand)
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