Ivy Bank vs. Wells Fargo
Comparing Ivy Bank and Wells Fargo for savings: Ivy Bank's High-Yield Savings Account pays 3.85% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Wells Fargo requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Ivy Bank pays $380 more than Wells Fargo annually ($385 vs $5).
Choose Ivy Bank if getting the best rate matters most, or you want a no-strings-attached account. Choose Wells Fargo if you value in-person banking, you're an Android user, or you want Zelle for quick transfers.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Ivy Bank offers its savings account standalone.
| Metric | Ivy BankHigh-Yield Savings Account Feb 21, 2026 | Wells FargoPlatinum Savings Feb 21, 2026 |
|---|---|---|
| APY | 0.05% - 3.85% | 0.05% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $2,500 | $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 InsuredMod. MinimumGreat iOS AppDaily CompoundingRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Ivy Bank vs. Wells Fargo
Executive Summary
Ivy Bank outperforms Wells Fargo with its High-Yield Savings Account, offering an impressive APY of 3.85%, significantly higher than Wells Fargo's Way2Save Savings and Platinum Savings accounts, which yield only 0.01% and 0.05% respectively. Ivy Bank's account requires a minimum deposit of $2,500 and is available online only, with eligibility restricted to residents of California and U.S. Territories (excluding the District of Columbia). In contrast, Wells Fargo's accounts have lower APYs and are accessible to a broader audience, though they do require a checking account for the Platinum Savings tier to achieve the highest rates. Overall, Ivy Bank provides a much more attractive savings option.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Ivy Bank?
- ✓Higher potential APY (3.85% 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 Android app (4.8 vs 0.0)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle® (up to $3,500 a day)
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
Ivy BankIvy Bank's High-Yield Savings Account earns more on smaller deposits (approx. $385 vs $5/yr).
Better Returns at $25,000
Ivy BankIvy Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $963 vs $13/yr).
Best Mobile App Experience
Wells FargoWells Fargo offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 0.0)
Shared Benefits
Over a 1-year period, Ivy Bank's High-Yield Savings Account pays $380 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Ivy Bank vs. Wells Fargo Savings Calculator
You earn $380 more with Ivy Bank 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.
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
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 | Ivy Bank | Wells Fargo |
|---|---|---|
| APY | 3.85% Range: 0.05% - 3.85% Verified: 2/21/2026 ↘︎ 0.40%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 2/21/2026 Stable (90d) |
| Product Name | High-Yield Savings Account | Platinum Savings |
| Minimum Deposit | $2,500 | $25 |
| Min. Balance for APY | $2,500 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | Wells Fargo offers branches and ATMs in 36 states and Washington, D.C. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A- | A- |
| 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 Ivy Bank 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 | Ivy Bank | Wells Fargo | |
|---|---|---|---|
| High-Yield Savings Account | Platinum Savings | Way2Save Savings | |
Current APY | 3.85% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -11.1 | -0.0 | 0.0 |
Days Since Change | 3 | 100 | 100 |
3-Month High | 4.25% | 0.05% | 0.01% |
3-Month Low | 3.85% | 0.05% | 0.01% |
Adjustments / Mo | 0.90 | 0.00 | 0.00 |
Volatility Score | 0.028 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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Compare Ivy Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ivy Bank vs Ally Bank | 3.20% | $0 |
| Ivy Bank vs American Express | 3.30% | $0 |
| Ivy Bank vs Axos Bank | 4.21% | $0 |
| Ivy Bank vs Bank of America | 0.01% | $100 |
| Ivy Bank vs Barclays | 3.85% | $0 |
| Ivy Bank vs Capital One | 3.30% | $0 |
| Ivy Bank vs Chase Bank | 0.01% | $0 |
| Ivy Bank vs Chime | 3.00% | $0 |
| Ivy Bank vs CIT Bank | 3.75% | $100 |
| Ivy Bank vs Citibank | 3.20% | $0 |
| Ivy Bank vs Discover Bank | 3.30% | $0 |
| Ivy Bank vs EverBank | 3.90% | $0 |
| Ivy Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ivy Bank vs Newtek Bank | 4.20% | $0.01 |
| Ivy Bank vs Openbank | 4.09% | $500 |
| Ivy Bank vs Pibank | 4.60% | $0 |
| Ivy Bank vs SoFi Bank | 4.00% | $0 |
| Ivy Bank vs Synchrony Bank | 3.50% | $0 |
| Ivy Bank vs Varo Bank | 5.00% | $0 |
| Ivy Bank vs Wealthfront | 3.95% | $0 |