MutualOne Bank vs. Wells Fargo
MutualOne Bank edges out Wells Fargo slightly at 4.07% vs 0.05% APY. On a $10,000 balance, the difference is just $5 per year—so other factors may matter more.
The Bottom Line
The MutualOne Bank and Wells Fargo savings accounts are very similar. Choose MutualOne Bank if you want a no-strings-attached account.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while MutualOne Bank offers its savings account standalone.
| Metric | MutualOne BankMo Premium Savings Feb 21, 2026 | Wells FargoPlatinum Savings Feb 21, 2026 |
|---|---|---|
| APY | 4.07% | 0.05% |
Est. Earnings | $5,000+$0 $10,000+$0 $25,000+$1,018 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $20,000 | $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 InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing MutualOne Bank vs. Wells Fargo
Executive Summary
MutualOne Bank offers a standout savings option with its Mo Premium Savings account, featuring a competitive APY of 4.07% with a minimum deposit of $20,000 and no direct deposit requirement. This account is ideal for those looking to maximize their savings without additional conditions. In contrast, Wells Fargo's highest yielding option, the Platinum Savings account, provides only a 0.05% APY, which is significantly lower and requires a linked Premier checking account for optimal rates. Overall, MutualOne Bank's offering is superior for savers seeking higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why MutualOne Bank?
- ✓Higher potential APY (4.07% vs 0.01%-0.05%)
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Higher rated Android app (4.8 vs 4.4)
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $25,000
MutualOne BankMutualOne Bank's Mo Premium Savings pulls ahead with larger amounts (approx. $1018 vs $13/yr).
Best for Simplicity
MutualOne BankMutualOne Bank's Mo Premium Savings offers 4.07% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, MutualOne Bank's Mo Premium Savings pays $402 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
MutualOne Bank vs. Wells Fargo Savings Calculator
You earn $804 more with MutualOne Bank than Wells Fargo on a $20,000 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.
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$10.00(0.0%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,010.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | MutualOne Bank | Wells Fargo |
|---|---|---|
| APY | 4.07% Verified: 2/21/2026 Stable (90d) | 0.05% Range: 0.05% - 0.05% Verified: 2/21/2026 Stable (90d) |
| Product Name | Mo Premium Savings | Platinum Savings |
| Minimum Deposit | $20,000 | $25 |
| Min. Balance for APY | $20,000 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | Full-service banking offices in Framingham, MA, and Natick, MA | 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 | Available Verified via website and app descriptions. | 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 MutualOne 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 | MutualOne Bank | Wells Fargo | ||
|---|---|---|---|---|
| Online Savings | Mo Premium Savings | Platinum Savings | Way2Save Savings | |
Current APY | 0.40% | 4.07% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 | -36.7 | -0.0 |
Days Since Change | 162 | 162 | 127 | 159 |
5-Month High | 0.40% | 4.07% | 2.51% | 0.01% |
5-Month Low | 0.40% | 4.07% | 0.05% | 0.01% |
Adjustments / Mo | 0.00 | 0.00 | 0.56 | 0.00 |
Volatility Score | 0.000 | 0.000 | 2.179 | 0.000 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare MutualOne Bank vs...
Comparing against Standard Savings
Compare Wells Fargo vs...
Comparing against other Bundled Accounts
More Comparisons
Compare MutualOne Bank's APY of 4.07% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| MutualOne Bank vs Ally Bank | 3.20% | $0 |
| MutualOne Bank vs American Express | 3.30% | $0 |
| MutualOne Bank vs Axos Bank | 4.21% | $0 |
| MutualOne Bank vs Bank of America | 0.01% | $100 |
| MutualOne Bank vs Barclays | 3.85% | $0 |
| MutualOne Bank vs Capital One | 3.30% | $0 |
| MutualOne Bank vs Chase Bank | 0.01% | $0 |
| MutualOne Bank vs Chime | 3.00% | $0 |
| MutualOne Bank vs CIT Bank | 3.75% | $100 |
| MutualOne Bank vs Citibank | 3.20% | $0 |
| MutualOne Bank vs Discover Bank | 3.30% | $0 |
| MutualOne Bank vs EverBank | 3.90% | $0 |
| MutualOne Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| MutualOne Bank vs Newtek Bank | 4.20% | $0.01 |
| MutualOne Bank vs Openbank | 4.09% | $500 |
| MutualOne Bank vs Pibank | 4.60% | $0 |
| MutualOne Bank vs SoFi Bank | 4.00% | $0 |
| MutualOne Bank vs Synchrony Bank | 3.50% | $0 |
| MutualOne Bank vs Varo Bank | 5.00% | $0 |
| MutualOne Bank vs Wealthfront | 3.95% | $0 |