Peak Bank vs. Wells Fargo
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Peak BankEnvision High Yield Savings Jan 21, 2026 | Wells FargoPlatinum Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.99% | 0.05% |
Est. Earnings | $5,000+$200 $10,000+$399 $25,000+$998 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $100 | $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 App | 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 Peak Bank vs. Wells Fargo
As of Peak Bank offers an APY of 3.99% for its Envision High Yield Savings account, with a minimum balance of , compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
Peak Bank pays $394 more than Wells Fargo on a $10,000 balance after one year. Peak Bank pays $399, while Wells Fargo pays $5 - an APY advantage for Peak Bank.
In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account, with a minimum balance of $0.
Why Peak Bank?
- ✓Higher potential APY (3.99% 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.)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
Peak BankPeak Bank's Envision High Yield Savings earns more on smaller deposits (approx. $399 vs $5/yr).
Better Returns at $25,000
Peak BankPeak Bank's Envision High Yield Savings pulls ahead with larger amounts (approx. $998 vs $13/yr).
Best for Simplicity
Peak BankPeak Bank's Envision High Yield Savings offers 3.99% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Peak Bank's Envision High Yield Savings pays $394 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
Peak Bank's Envision High Yield Savings stands out with a competitive APY of 3.99%, providing better returns on both small and large deposits without any direct deposit requirements or maintenance fees. In contrast, Wells Fargo offers significantly lower rates, with its Way2Save Savings account yielding only 0.01% APY and the Platinum Savings account providing a mere 0.05% APY, which is contingent on linking to a Premier checking account and maintaining a high balance. Peak Bank's product is online-only, while Wells Fargo offers physical branch access.
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
Peak Bank vs. Wells Fargo Savings Calculator
You earn $394 more with Peak 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.
Peak Bank
Envision High Yield Savings
Savings Breakdown
- Interest Earned+$399.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,399.00
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 | Peak Bank | Wells Fargo |
|---|---|---|
| APY | 3.99% Verified: 1/21/2026 ↘︎ 0.21%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 1/21/2026 Stable (90d) |
| Product Name | Envision High Yield Savings | Platinum Savings |
| Minimum Deposit | $100 | $25 |
| Min. Balance for APY | N/A | $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 | iOS4.8 Android4.6 | iOS4.9 Android4.8 |
| Zelle® Support | Not Supported | 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 Peak 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 | Peak Bank | Wells Fargo | |
|---|---|---|---|
| Envision High Yield Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.99% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -6.2 | -56.6 | 0.0 |
Days Since Change | 20 | 96 | 189 |
6-Month High | 4.44% | 2.51% | 0.01% |
6-Month Low | 3.99% | 0.05% | 0.01% |
Adjustments / Mo | 0.79 | 0.47 | 0.00 |
Volatility Score | 0.030 | 1.163 | 0.000 |
How to read these metrics(Click to expand)
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