Popular Direct vs. Wells Fargo
Comparing Popular Direct and Wells Fargo for savings: Popular Direct's Popular Direct Select Savings pays 3.90% 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? Popular Direct pays $385 more than Wells Fargo annually ($390 vs $5).
Choose Popular Direct if getting the best rate matters most, or you want a no-strings-attached account. Choose Wells Fargo if you value in-person banking, mobile app quality matters, or you want Zelle for quick transfers.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Popular Direct offers its savings account standalone.
| Metric | Popular DirectPopular Direct Select Savings Feb 21, 2026 | Wells FargoPlatinum Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.90% | 0.05% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $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 MinimumsDaily 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 Popular Direct vs. Wells Fargo
Executive Summary
Popular Direct offers a significantly higher APY of 3.90% on its Popular Direct Select Savings account, which is an online-only product requiring a minimum deposit of $100 and has no maintenance fees or direct deposit requirements. In contrast, Wells Fargo's highest yielding product, the Platinum Savings account, provides a mere 0.05% APY but requires a substantial minimum balance of $1,000,000 and must be linked to a Wells Fargo Premier checking account. The Way2Save Savings account from Wells Fargo offers an even lower APY of 0.01%. Therefore, Popular Direct is the clear winner in terms of savings rates.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Popular Direct?
- ✓Higher potential APY (3.90% 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 iOS app (4.9 vs 1.3)
- ✓Higher rated Android app (4.8 vs 1.3)
- ✓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
Popular DirectPopular Direct's Popular Direct Select Savings earns more on smaller deposits (approx. $390 vs $5/yr).
Better Returns at $25,000
Popular DirectPopular Direct's Popular Direct Select Savings pulls ahead with larger amounts (approx. $975 vs $13/yr).
Best for Simplicity
Popular DirectPopular Direct's Popular Direct Select Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Wells FargoWells Fargo offers an iOS app rated 4.9 (vs. 1.3) and Android app rated 4.8 (vs. 1.3)
Shared Benefits
Over a 1-year period, Popular Direct's Popular Direct Select Savings pays $385 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
Popular Direct vs. Wells Fargo Savings Calculator
You earn $385 more with Popular Direct 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.
Popular Direct
Popular Direct Select Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 | Popular Direct | Wells Fargo |
|---|---|---|
| APY | 3.90% Verified: 2/21/2026 ↘︎ 0.10%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 2/21/2026 Stable (90d) |
| Product Name | Popular Direct Select Savings | Platinum Savings |
| Minimum Deposit | $100 | $25 |
| Min. Balance for APY | $0.01 | $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. You cannot make use of Popular Bank's branches. | 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 Popular Direct 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 | Popular Direct | Wells Fargo | |
|---|---|---|---|
| Popular Direct Select Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.90% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.1 | -46.5 | 0.0 |
Days Since Change | 68 | 127 | 221 |
7-Month High | 4.10% | 2.51% | 0.01% |
7-Month Low | 3.90% | 0.05% | 0.01% |
Adjustments / Mo | 0.54 | 0.41 | 0.00 |
Volatility Score | 0.019 | 1.328 | 0.000 |
How to read these metrics(Click to expand)
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Compare Popular Direct's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Popular Direct vs Ally Bank | 3.20% | $0 |
| Popular Direct vs American Express | 3.30% | $0 |
| Popular Direct vs Axos Bank | 4.21% | $0 |
| Popular Direct vs Bank of America | 0.01% | $100 |
| Popular Direct vs Barclays | 3.85% | $0 |
| Popular Direct vs Capital One | 3.30% | $0 |
| Popular Direct vs Chase Bank | 0.01% | $0 |
| Popular Direct vs Chime | 3.00% | $0 |
| Popular Direct vs CIT Bank | 3.75% | $100 |
| Popular Direct vs Citibank | 3.20% | $0 |
| Popular Direct vs Discover Bank | 3.30% | $0 |
| Popular Direct vs EverBank | 3.90% | $0 |
| Popular Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Popular Direct vs Newtek Bank | 4.20% | $0.01 |
| Popular Direct vs Openbank | 4.09% | $500 |
| Popular Direct vs Pibank | 4.60% | $0 |
| Popular Direct vs SoFi Bank | 4.00% | $0 |
| Popular Direct vs Synchrony Bank | 3.50% | $0 |
| Popular Direct vs Varo Bank | 5.00% | $0 |
| Popular Direct vs Wealthfront | 3.95% | $0 |