Ivy Bank vs. Wells Fargo
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Ivy Bank vs. Wells Fargo
Key Metrics at a Glance
| Feature | Ivy Bank | Wells Fargo |
|---|---|---|
| Top Savings APY | 4.25% High-Yield Savings Account | 0.05% Platinum Savings |
| Minimum to Open | $2,500 | $25 |
| Minimum Balance for Top APY | $2,500 | $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. |
Ivy Bank
Strengths
- Ivy Bank offers a competitive APY of 4.25%, significantly higher than Wells Fargo's offerings.
- Ivy Bank has no maintenance fees for its High-Yield Savings Account.
- Ivy Bank has a strong App Store rating of 4.7.
Potential Drawbacks
- Ivy Bank has no physical branches, limiting in-person access.
- Ivy Bank requires a minimum deposit and balance of $2,500.
Wells Fargo
Strengths
- Wells Fargo has extensive branch access across 36 states and Washington, D.C.
- Wells Fargo's App Store rating is high at 4.9 and Google Play at 4.8.
Potential Drawbacks
- Wells Fargo's highest APY is only 0.05%, significantly lower than Ivy Bank's.
- Wells Fargo charges a maintenance fee unless a high balance is maintained.
- Wells Fargo has a poor BBB rating of D-.
→ As of November 12, 2025 Ivy Bank offers an APY of 4.25% for its High-Yield Savings Account, with a minimum balance of $2,500, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
→ Ivy Bank yields $420 more than Wells Fargo on a $10,000 balance after one year. Ivy Bank pays $425, while Wells Fargo pays $5 - an APY advantage for Ivy Bank.
→ In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account.
Calculate Savings Growth for Ivy Bank vs Wells Fargo
Ivy Bank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
Bank OverviewWells Fargo - Platinum Savings
⚠️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, Ivy Bank's total earnings would be $2,568.2 higher than Wells Fargo's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ivy Bank's vs Wells Fargo's Savings Accounts
| Ivy Bank | Wells Fargo | |||
|---|---|---|---|---|
| Product | High-Yield Savings Account | vs | Way2Save Savings | Platinum Savings |
| APY | 0.05% - 4.25% (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 | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | No | No | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $2,500 | $25 | $25 | |
| Minimum Balance for APY | $2,500 | $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 | |
| Eligibility | Residents of California and U.S. Territories (except District of Columbia) are ineligible to apply. | 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 | 4.7/5 | 4.9/5 | ||
| Google Play Rating | 3.5/5 | 4.8/5 | ||
| BBB Rating | A- | D- | ||
No historical data available.