Fnbo Direct vs. Wells Fargo
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 16, 2025
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Summary of FNBO Direct vs. Wells Fargo
Key Metrics at a Glance
| Feature | FNBO Direct | Wells Fargo |
|---|---|---|
| Top Savings APY | 3.00% High-Yield Online Savings Account | 2.51% Platinum Savings |
| Minimum to Open | $1 | $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 2.51% 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. |
FNBO Direct
Strengths
- FNBO Direct offers a higher APY of 3.00% compared to Wells Fargo's 2.51%.
- No maintenance fees for FNBO Direct's High-Yield Online Savings Account.
- FNBO Direct has a higher App Store rating of 4.5.
Potential Drawbacks
- FNBO Direct has no branches, limiting in-person banking options.
- FNBO Direct's APY decreased from 3.25% in the last 30 days.
- FNBO Direct is not rated by the BBB.
Wells Fargo
Strengths
- Wells Fargo has branches and ATMs in 36 states and Washington, D.C.
- Wells Fargo's Platinum Savings account offers tiered rates for high balances.
- Wells Fargo has a higher App Store rating of 4.9.
Potential Drawbacks
- Wells Fargo's Platinum Savings requires a $1,000,000 balance for the 2.51% APY.
- Wells Fargo has an F BBB rating and is not accredited.
- Wells Fargo charges a $12 maintenance fee unless certain conditions are met.
→ As of October 16, 2025 FNBO Direct offers an APY of 3.00% for its High-Yield Online Savings Account, with a minimum balance of $0.01, compared to Wells Fargo's 2.51% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
→ FNBO Direct yields $295 more than Wells Fargo on a $10,000 balance after one year. FNBO Direct pays $300, while Wells Fargo pays $5 (with an effective APY of 0.05%) - an APY advantage for FNBO Direct.
→ In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account.
Calculate Savings Growth for FNBO Direct vs Wells Fargo
FNBO Direct
Total savings breakdown:
- Interest earned: $1,798.2 (9.08%)
- Total contributions: $13,000 (65.66%)
- Initial deposit: $5,000 (25.25%)
Your total balance
$19,798.20
Total balance: $19,798.2
Earnings: $1,798.2
Bank OverviewWells Fargo
⚠️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
Total balance: $18,028.6
Earnings: $28.6
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, FNBO Direct's total earnings would be $1,769.6 higher than Wells Fargo's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare FNBO Direct's vs Wells Fargo's Savings Accounts
| FNBO Direct | Wells Fargo | |||
|---|---|---|---|---|
| Product | High-Yield Online Savings Account | vs | Way2Save Savings | Platinum Savings |
| APY | 3.00% (as of 10/16/2025) | 0.01% (as of 10/16/2025) | 0.05% - 2.51% (as of 10/16/2025) | |
| Bundled Account | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | No | No | No | |
| Compound Frequency | Monthly | Daily | Daily | |
| Minimum Deposit | $1 | $25 | $25 | |
| Minimum Balance for APY | $0.01 | $0 | $1,000,000 | |
| Maintenance Fee | $0 | $5. Waived under some circumstances. | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | No | No | No | |
| Note | This is a tiered savings account where rates vary based on the balance. The 2.51% 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 | 4.5/5 | 4.9/5 | ||
| Google Play Rating | 4.8/5 | 4.8/5 | ||
| BBB Rating | Not Rated | F | ||
Comparative Historical APY Insights (Last 3 Months)
| FNBO Direct | Wells Fargo | |||
|---|---|---|---|---|
| Product | High-Yield Online Savings Account | vs | Platinum Savings | Way2Save Savings |
| Latest APY | 3.00 % | 2.51 % | 0.01 % | |
| Trend | Falling | Falling | Sideways | |
| Slope (bps/mo) | -7.7 | -25.2 | -0.0 | |
| Rate Changes / Mo | 0.36 | 0.71 | 0.00 | |
| Days Since Last Change | 13 | 0 | 83 | |
| High (-3 m) | 3.25 % | 2.51 % | 0.01 % | |
| Low (-3 m) | 3.00 % | 0.05 % | 0.01 % | |
| Draw-down from High | -7.7 % | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.029 | 0.229 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 3 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 (-3 m)
- Highest APY in the last 84 days.
- Low (-3 m)
- Lowest APY in the last 84 days.
- Draw-down from High
- How far today sits below the 3-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.