Presidential Bank vs Wells Fargo
High-Yield Savings Accounts Comparison
Last Updated: July 16, 2025
Summary of Presidential Bank vs. Wells Fargo
As of July 16, 2025 Presidential Bank offers an APY of 4.50% for its Advantage Savings account, compared to Wells Fargo's 2.51% APY for its Platinum Savings account.
Presidential Bank yields $445 more than Wells Fargo on a $10,000 balance after one year. Presidential Bank pays $450, while Wells Fargo pays $5 (with an effective APY of 0.05%) - an APY advantage for Presidential Bank.
Presidential Bank
Strengths
- Advantage Savings offers a competitive APY of 4.50%, unchanged from 30 days ago.
- Presidential Bank has a lower minimum deposit of $5,000 compared to Wells Fargo's $1,000,000.
- Presidential Bank has a higher App Store rating of 4.8 compared to Wells Fargo's 4.9.
Potential Drawbacks
- Presidential Bank's BBB rating is B- and not BBB Accredited.
- To earn the higher APY, a direct deposit of $500 is required into an Advantage Checking Account.
- Limited to 10 branches in Maryland, Virginia, and Washington D.C.
Wells Fargo
Strengths
- Wells Fargo provides access to branches and ATMs in 36 states, offering greater convenience.
- Wells Fargo's Google Play rating is higher at 4.8 compared to Presidential Bank's 4.2.
- The Platinum Savings account allows a lower minimum deposit of $25.
Potential Drawbacks
- Wells Fargo's APY is significantly lower at 2.51%, requiring a balance of $1,000,000.
- Wells Fargo has a BBB rating of F and is not BBB Accredited.
- Maintenance fee of $12 applies unless a $3,500 minimum daily balance is maintained.
Summary: Presidential Bank's Advantage Savings offers a higher APY of 4.50% but requires a $500 direct deposit, while Wells Fargo's Platinum Savings has a lower APY of 2.51% and a higher minimum balance requirement. Wells Fargo has a broader branch network and a lower minimum deposit for opening an account. However, both banks lack BBB accreditation, with Wells Fargo having a notably poor BBB rating of F.
Compare Presidential Bank's vs Wells Fargo's Savings Accounts
| Presidential Bank | Wells Fargo | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Platinum Savings |
| APY | 4.00% - 4.50% (as of 7/16/2025) | 0.05% - 2.51% (as of 7/16/2025) | |
| Bundled Account | Yes | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | No | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $5,000 | $25 | |
| Minimum Balance for APY | N/A | $1,000,000 | |
| Maintenance Fee | $0 | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | Yes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. | No | |
| Note | N/A | This is a tiered savings account where rates vary based on the balance. The 2.51%% 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. | |
| Visit Bank | Advantage Savings | Platinum Savings | |
| App Store Rating | 4.8/5 | 4.9/5 | |
| Google Play Rating | 4.2/5 | 4.8/5 | |
| BBB Rating | B- | F |
No historical data available.
Calculate Savings Growth for Presidential Bank vs Wells Fargo
All calculations are based on APY.
Presidential Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $45 (4.31%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.69%)
Your total balance
$1,045.00
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $1,045
Earnings: $45
Bank DetailsWells Fargo
APY: 2.51%
Total savings breakdown:
- Interest earned: $25.1 (2.45%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (97.55%)
Your total balance
$1,025.10
Effective APY: 2.51% (based on your deposit and contributions)
Total balance: $1,025.1
Earnings: $25.1
Bank DetailsAfter 1 year Presidential Bank would earn you $19.9 more than Wells Fargo.
More Comparisons
Compare Presidential Bank's APY of 4.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Presidential Bank vs Ally Bank | 3.50% | $0 |
| Presidential Bank vs American Express | 3.60% | $0 |
| Presidential Bank vs Axos Bank | 4.66% | $0 |
| Presidential Bank vs Bank of America | 0.01% | $100 |
| Presidential Bank vs Barclays | 4.10% | $0 |
| Presidential Bank vs Capital One | 3.50% | $0 |
| Presidential Bank vs Chase Bank | 0.01% | $0 |
| Presidential Bank vs Chime | 3.75% | $0 |
| Presidential Bank vs CIT Bank | 4.00% | $100 |
| Presidential Bank vs Discover Bank | 3.50% | $0 |
| Presidential Bank vs Fitness Bank | 5.00% | $100 |
| Presidential Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Presidential Bank vs SoFi Bank | 3.80% | $0 |
| Presidential Bank vs Synchrony Bank | 3.80% | $0 |
| Presidential Bank vs Varo Bank | 5.00% | $0 |
Compare Wells Fargo's APY of 2.51% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Wells Fargo vs Ally Bank | 3.50% | $0 |
| Wells Fargo vs American Express | 3.60% | $0 |
| Wells Fargo vs Axos Bank | 4.66% | $0 |
| Wells Fargo vs Bank of America | 0.01% | $100 |
| Wells Fargo vs Barclays | 4.10% | $0 |
| Wells Fargo vs Capital One | 3.50% | $0 |
| Wells Fargo vs Chase Bank | 0.01% | $0 |
| Wells Fargo vs Chime | 3.75% | $0 |
| Wells Fargo vs CIT Bank | 4.00% | $100 |
| Wells Fargo vs Discover Bank | 3.50% | $0 |
| Wells Fargo vs Fitness Bank | 5.00% | $100 |
| Wells Fargo vs Marcus by Goldman Sachs | 3.65% | $0 |
| Wells Fargo vs SoFi Bank | 3.80% | $0 |
| Wells Fargo vs Synchrony Bank | 3.80% | $0 |
| Wells Fargo vs Varo Bank | 5.00% | $0 |