High-Yield Savings Account Comparison

Peak Bank vs. Wells Fargo

Compare rates, requirements, and features side-by-side to find the best option for you.

Analysis by Aviel Fahl
Updated December 6, 2025
Advertising Disclosure: We may earn a commission from partner links.

Peak Bank

Envision High Yield Savings

4.20%
APY
Dec 6, 2025
FDIC InsuredLow MinimumsGreat iOS AppGreat Android App
Show Fine Print & Trends
Min. Deposit$100
Min. Balance$0
Maintenance Fee$0
Compound FreqDaily
Direct DepositNot required
Deposit InsuranceFDIC Insured(Cert: 58095)
EligibilityUnited States
Mobile Ratings
iOS:4.8Android:4.6
BBB Rating
A+(Not BBB Accredited)

Rate Stability

Rate Adjusted
-0.15%
Since 90 days ago
Read Bank Overview

Wells Fargo

Platinum Savings

0.05%
APY
Dec 6, 2025
FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person Access
Show Fine Print & Trends
Min. Deposit$25
Min. Balance$1,000,000
Maintenance Fee$12. Waived with $3,500 minimum daily balance.
Compound FreqDaily
Direct DepositNot required
Branch AccessWells Fargo offers branches and ATMs in 36 states and Washington, D.C.
Deposit InsuranceFDIC Insured(Cert: 3511)
EligibilityUnited States
Mobile Ratings
iOS:4.9Android:4.8
BBB Rating
D-(Not BBB Accredited)

Important 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.

Rate Stability

Rate Adjusted
-2.46%
Since 90 days ago
Read Bank Overview

Comparison Analysis

Comparing Peak Bank vs. Wells Fargo

Updated: Dec 6, 2025

Why Peak Bank?

  • ✓Higher potential APY (4.20% 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

— Key Feature Differences —

Better Returns at $10,000
Peak Bank

Peak Bank's Envision High Yield Savings earns more on smaller deposits (approx. $420 vs $5/yr).

Better Returns at $25,000
Peak Bank

Peak Bank's Envision High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $13/yr).

Best for Simplicity
Peak Bank

Peak Bank's Envision High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.

Shared Benefits

Available Nationwide Available to New & Existing Customers
The Bottom Line

Over a 1-year period, Peak Bank's Envision High Yield Savings pays $415 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.

Wells FargoPeak Bank
Automated Data Audit

Executive Summary

Peak Bank offers a significant advantage with its Envision High Yield Savings account, boasting a competitive APY of 4.20%, which is far superior to Wells Fargo's Way2Save Savings account, which yields only 0.01%. Peak Bank's account features no direct deposit requirement and a low minimum deposit of $100, making it accessible for savers. In contrast, Wells Fargo's offerings include a lower-yielding Platinum Savings account, which requires a substantial balance of $1,000,000 for its highest rate of 0.05% and necessitates linking to a Premier checking account. Overall, Peak Bank stands out as the more favorable option for savers seeking higher returns.

Analysis generated based on current Banksparency database records

* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.

ExplorePeak BankExploreWells Fargo

Top Market Contenders

See who beats both Peak Bank and Wells Fargo.

Compare All High-Yield Savings Accounts
Pibank
Pibank Savings
FDIC InsuredNo Minimums
4.60% APY
+0.40% vs Peak Bank
Better Rate
Pibank vs Peak BankPibank vs Wells Fargo
Neighbors Bank
Neighbors Savings Account
FDIC InsuredNo MinimumsGreat Android App
4.50% APY
+0.30% vs Peak Bank
Better Rate
Neighbors Bank vs Peak BankNeighbors Bank vs Wells Fargo
Axos Bank
Axos ONE
FDIC InsuredNo MinimumsGreat iOS AppGreat Android App
4.31% APY
+0.11% vs Peak Bank
Better Rate
Axos Bank vs Peak BankAxos Bank vs Wells Fargo
FeaturePeak BankWells Fargo
APY
4.20%
Verified: 12/6/2025
↘︎ 0.15%90d Change
0.05%
Range: 0.05% - 0.05%
Verified: 12/6/2025
↘︎ 2.46%90d Change
Product NameEnvision High Yield SavingsPlatinum Savings
Minimum Deposit$100$25
Min. Balance for APYN/A$1,000,000
Monthly Fee$0$12. Waived with $3,500 minimum daily balance.
Branch AccessNoneYes
Account Type
Online Only
Online & Branches
Direct Deposit Req.NoneNone
Checking BundleNo Yes
Mobile Apps
iOS4.8
Android4.6
iOS4.9
Android4.8
BBB RatingA+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
- View Details
- View Details

Savings Comparison

Calculations based on current APY.
$
$

Peak Bank earns $2,535.7 more than Wells Fargo.

Peak Bank

Envision High Yield Savings

4.20% APY

Savings Breakdown

  • Interest Earned
    +$2,564.30(12.5%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,564.30

Effective APY
4.20%
View Details

Wells Fargo

Platinum Savings

0.05% APY

Higher APY requires $1,000,000

Savings Breakdown

  • Interest Earned
    +$28.60(0.2%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$18,028.60

Effective APY
0.05%
View Details

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

📈 Compare Savings Rates Over Time

Historical Performance

Last 5 Months Analysis
MetricPeak BankWells Fargo
Envision High Yield SavingsPlatinum SavingsWay2Save Savings
Current APY
4.20%0.05%0.01%
Trend
 Stable Stable Stable
Velocity (bps/mo)
-5.7-72.00.0
Days Since Change
6650143
5-Month High
4.44%2.51%0.01%
5-Month Low
4.20%0.05%0.01%
Adjustments / Mo
0.420.630.00
Volatility Score
0.0210.8430.000
How to read these metrics(Click to expand)

Trends & Velocity

  • Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
  • Velocity (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
  • Adjustments/Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

  • High/Low: The absolute ceiling and floor of the rate during the 144-day window.
  • Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
  • Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Compare Similar Alternatives

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APY
vs Peak Bank
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4.50%
APY
vs Peak Bank
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APY

Compare Wells Fargo vs...

Comparing against other Bundled Accounts

vs Wells Fargo
Axos BankChecking Bundle
4.31%
APY
vs Wells Fargo
SoFi BankChecking Bundle
4.30%
APY
vs Wells Fargo
Presidential BankChecking Bundle
4.00%
APY

More Comparisons

Compare Peak Bank's APY of 4.20% with other banks
Bank PairCompetitor APYMin Deposit
Peak Bank vs Ally Bank3.30%$0
Peak Bank vs American Express3.40%$0
Peak Bank vs Axos Bank4.31%$0
Peak Bank vs Bank of America0.01%$100
Peak Bank vs Barclays4.00%$0
Peak Bank vs Bask Bank3.90%$0
Peak Bank vs BMO Alto3.25%$0
Peak Bank vs BrioDirect4.00%$5,000
Peak Bank vs Capital One3.40%$0
Peak Bank vs Chase Bank0.01%$0
Peak Bank vs Chime3.50%$0
Peak Bank vs CIT Bank3.75%$100
Peak Bank vs Citibank3.30%$0
Peak Bank vs Citizens Access™3.35%$0.01
Peak Bank vs Climate First Bank4.21%$50
Peak Bank vs Discover Bank3.40%$0
Peak Bank vs Elevault4.08%$0
Peak Bank vs EverBank4.05%$0
Peak Bank vs Fitness Bank4.75%$100
Peak Bank vs FNBO Direct3.00%$1
Peak Bank vs Forbright Bank4.00%$0
Peak Bank vs FVCbank3.85%$500
Peak Bank vs GO2bank4.50%$0
Peak Bank vs Ivy Bank4.25%$2,500
Peak Bank vs LendingClub4.20%$0
Peak Bank vs Marcus by Goldman Sachs3.65%$0
Peak Bank vs Neighbors Bank4.50%$0
Peak Bank vs Newtek Bank4.35%$0.01
Peak Bank vs Openbank4.20%$500
Peak Bank vs Pibank4.60%$0
Peak Bank vs PNC3.53%$0
Peak Bank vs Presidential Bank4.00%$5,000
Peak Bank vs Quontic Bank3.75%$100
Peak Bank vs Salem Five Direct3.71%$10
Peak Bank vs Santander Bank0.01%$25
Peak Bank vs SoFi Bank4.30%$0
Peak Bank vs Synchrony Bank3.65%$0
Peak Bank vs TIMBR4.40%$1,000
Peak Bank vs UFB Direct3.71%$5000
Peak Bank vs Valley Direct4.10%$1,000
Peak Bank vs Varo Bank5.00%$0
Peak Bank vs Vio Bank4.16%$100
Peak Bank vs Wealthfront4.15%$0
Peak Bank vs Zynlo Bank4.05%$10
Compare Wells Fargo's APY of 0.05% with other banks
Bank PairCompetitor APYMin Deposit
Wells Fargo vs Ally Bank3.30%$0
Wells Fargo vs American Express3.40%$0
Wells Fargo vs Axos Bank4.31%$0
Wells Fargo vs Bank of America0.01%$100
Wells Fargo vs Barclays4.00%$0
Wells Fargo vs Bask Bank3.90%$0
Wells Fargo vs BMO Alto3.25%$0
Wells Fargo vs BrioDirect4.00%$5,000
Wells Fargo vs Capital One3.40%$0
Wells Fargo vs Chase Bank0.01%$0
Wells Fargo vs Chime3.50%$0
Wells Fargo vs CIT Bank3.75%$100
Wells Fargo vs Citibank3.30%$0
Wells Fargo vs Citizens Access™3.35%$0.01
Wells Fargo vs Climate First Bank4.21%$50
Wells Fargo vs Discover Bank3.40%$0
Wells Fargo vs Elevault4.08%$0
Wells Fargo vs EverBank4.05%$0
Wells Fargo vs Fitness Bank4.75%$100
Wells Fargo vs FNBO Direct3.00%$1
Wells Fargo vs Forbright Bank4.00%$0
Wells Fargo vs FVCbank3.85%$500
Wells Fargo vs GO2bank4.50%$0
Wells Fargo vs Ivy Bank4.25%$2,500
Wells Fargo vs LendingClub4.20%$0
Wells Fargo vs Marcus by Goldman Sachs3.65%$0
Wells Fargo vs Neighbors Bank4.50%$0
Wells Fargo vs Newtek Bank4.35%$0.01
Wells Fargo vs Openbank4.20%$500
Wells Fargo vs Pibank4.60%$0
Wells Fargo vs PNC3.53%$0
Wells Fargo vs Presidential Bank4.00%$5,000
Wells Fargo vs Quontic Bank3.75%$100
Wells Fargo vs Salem Five Direct3.71%$10
Wells Fargo vs Santander Bank0.01%$25
Wells Fargo vs SoFi Bank4.30%$0
Wells Fargo vs Synchrony Bank3.65%$0
Wells Fargo vs TIMBR4.40%$1,000
Wells Fargo vs UFB Direct3.71%$5000
Wells Fargo vs Valley Direct4.10%$1,000
Wells Fargo vs Varo Bank5.00%$0
Wells Fargo vs Vio Bank4.16%$100
Wells Fargo vs Wealthfront4.15%$0
Wells Fargo vs Zynlo Bank4.05%$10