FNBO Direct vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | FNBO DirectHigh-Yield Online Savings Account Jan 21, 2026 | Wells FargoPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.00% | 0.05% |
Est. Earnings | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $1 | $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 InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | 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 FNBO Direct vs. Wells Fargo
As of 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 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
FNBO Direct pays $295 more than Wells Fargo on a $10,000 balance after one year. FNBO Direct pays $300, while Wells Fargo pays $5 - an APY advantage for FNBO Direct.
In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account, with a minimum balance of $0.
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.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
FNBO Direct offers a High-Yield Online Savings Account with an impressive APY of 3.00%, making it a superior choice for savers compared to Wells Fargo's Way2Save Savings account, which yields only 0.01%. The FNBO account requires a minimum deposit of $1 and has no maintenance fees, while the Way2Save account has a minimum deposit of $25 and a potential maintenance fee of $5, which can be waived under certain conditions. Additionally, Wells Fargo's Platinum Savings account offers a maximum APY of 0.05%, but it requires a substantial minimum balance of $1,000,000 and is contingent upon linking to a Wells Fargo Premier checking account. Overall, FNBO Direct stands out for its higher yield and lower barriers to entry.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
FNBO Direct vs. Wells Fargo Savings Calculator
You earn $295 more with FNBO Direct 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.
FNBO Direct
High-Yield Online Savings Account
Savings Breakdown
- Interest Earned+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
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 | FNBO Direct | Wells Fargo |
|---|---|---|
| APY | 3.00% Verified: 1/21/2026 Stable (90d) | 0.05% Range: 0.05% - 0.05% Verified: 1/21/2026 Stable (90d) |
| 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 |
| Zelle® Support | Available Online division fully supports Zelle. | 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 FNBO Direct 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 | 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) | -5.7 | -59.0 | -0.0 |
Days Since Change | 110 | 96 | 180 |
6-Month High | 3.25% | 2.51% | 0.01% |
6-Month Low | 3.00% | 0.05% | 0.01% |
Adjustments / Mo | 0.17 | 0.50 | 0.00 |
Volatility Score | 0.038 | 1.239 | 0.000 |
How to read these metrics(Click to expand)
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