Neighbors Bank vs. Wells Fargo
Comparing Neighbors Bank and Wells Fargo for savings: Neighbors Bank's Neighbors Savings Account pays 4.20% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Neighbors Bank caps its top rate at $250,000, while 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? Neighbors Bank pays $415 more than Wells Fargo annually ($420 vs $5).
Choose Neighbors Bank if getting the best rate matters most. Choose Wells Fargo if you're an iPhone user, or you want Zelle for quick transfers.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Neighbors Bank offers its savings account standalone.
| Metric | Neighbors BankNeighbors Savings Account Mar 7, 2026 | Wells FargoPlatinum Savings Mar 7, 2026 |
|---|---|---|
| APY | 4.20% | 0.05% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | Balances up to $250,000 earn 4.20% APY. Anything above will earn 0.05% APY. | 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 InsuredNo MinimumsGreat Android AppIn-Person AccessRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Neighbors Bank vs. Wells Fargo
Executive Summary
Neighbors Bank offers a competitive Neighbors Savings Account with an APY of 4.20% for balances up to $250,000, making it a strong choice for savers. In contrast, Wells Fargo's savings products, including the Way2Save Savings and Platinum Savings accounts, yield significantly lower APYs of 0.01% and 0.05%, respectively, with the latter requiring a $1,000,000 balance to achieve its highest rate. While Wells Fargo provides a better mobile app experience, the substantial APY advantage of Neighbors Bank positions it as the preferable option for those looking to maximize their savings returns. Note that Neighbors Bank's account is not available in Delaware.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Neighbors Bank?
- ✓Higher potential APY (4.20% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Higher rated iOS app (4.9 vs 3.3)
- ✓Higher rated Android app (4.8 vs 4.4)
- ✓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
Neighbors BankNeighbors Bank's Neighbors Savings Account earns more on smaller deposits (approx. $420 vs $5/yr).
Better Returns at $25,000
Neighbors BankNeighbors Bank's Neighbors Savings Account pulls ahead with larger amounts (approx. $1050 vs $13/yr).
Best Mobile App Experience
Wells FargoWells Fargo offers an iOS app rated 4.9 (vs. 3.3) and Android app rated 4.8 (vs. 4.4)
Shared Benefits
Over a 1-year period, Neighbors Bank's Neighbors Savings Account pays $415 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
Neighbors Bank vs. Wells Fargo Savings Calculator
You earn $415 more with Neighbors 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.
Neighbors Bank
Neighbors Savings Account
4.20% on first $250,000 and 0.05% thereafter.
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
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 | Neighbors Bank | Wells Fargo |
|---|---|---|
| APY | 4.20% Verified: 3/7/2026 ↘︎ 0.30%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 3/7/2026 Stable (90d) |
| Product Name | Neighbors Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | N/A | Daily |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | One location in Columbia, Missouri | 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 | Balances up to $250,000 earn 4.20% APY. Anything above will earn 0.05% APY. | 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 Neighbors 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 | Neighbors Bank | Wells Fargo | |
|---|---|---|---|
| Neighbors Savings Account | Platinum Savings | Way2Save Savings | |
Current APY | 4.20% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -6.8 | -42.5 | 0.0 |
Days Since Change | 51 | 141 | 235 |
8-Month High | 4.60% | 2.51% | 0.01% |
8-Month Low | 4.20% | 0.05% | 0.01% |
Adjustments / Mo | 0.38 | 0.38 | 0.00 |
Volatility Score | 0.037 | 1.394 | 0.000 |
How to read these metrics(Click to expand)
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Compare Neighbors Bank's APY of 4.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Neighbors Bank vs Ally Bank | 3.20% | $0 |
| Neighbors Bank vs American Express | 3.30% | $0 |
| Neighbors Bank vs Axos Bank | 4.21% | $0 |
| Neighbors Bank vs Bank of America | 0.01% | $100 |
| Neighbors Bank vs Barclays | 3.85% | $0 |
| Neighbors Bank vs Capital One | 3.30% | $0 |
| Neighbors Bank vs Chase Bank | 0.01% | $0 |
| Neighbors Bank vs Chime | 3.00% | $0 |
| Neighbors Bank vs CIT Bank | 3.75% | $100 |
| Neighbors Bank vs Citibank | 3.20% | $0 |
| Neighbors Bank vs Discover Bank | 3.30% | $0 |
| Neighbors Bank vs EverBank | 3.90% | $0 |
| Neighbors Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Neighbors Bank vs Newtek Bank | 4.20% | $0.01 |
| Neighbors Bank vs Openbank | 4.09% | $500 |
| Neighbors Bank vs Pibank | 4.60% | $0 |
| Neighbors Bank vs SoFi Bank | 4.00% | $0 |
| Neighbors Bank vs Synchrony Bank | 3.50% | $0 |
| Neighbors Bank vs Varo Bank | 5.00% | $0 |
| Neighbors Bank vs Wealthfront | 4.20% | $0 |