High-Yield Savings Account Comparison

Santander 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

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Santander Bank

Santander Savings

0.01%

APY

Dec 6, 2025

FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person Access

Show Fine Print & Trends

Min. Deposit	$25
Min. Balance	$0
Maintenance Fee	$1
Compound Freq	Daily
Direct Deposit	Not required
Branch Access	Primarily in the Northeast and Miami, Florida
Deposit Insurance	FDIC Insured(Cert: 29950)
Eligibility	United States
Mobile Ratings	iOS:4.8 Android:4.0
BBB Rating	Not Rated(Not BBB Accredited)

Rate Stability

Rate Adjusted

-0.02%

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 Freq	Daily
Direct Deposit	Not required
Branch Access	Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.
Deposit Insurance	FDIC Insured(Cert: 3511)
Eligibility	United States
Mobile Ratings	iOS:4.9 Android: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

Market Reality Check

Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.

See Top Rates

Comparison Analysis

Comparing Santander Bank vs. Wells Fargo

Updated: Dec 6, 2025

Why Santander Bank?

✓No checking account or direct deposit required

Why Wells Fargo?

✓Higher rated Android app (4.8 vs 4.0)
✓Offers 2 different high-yield savings options

— Key Feature Differences —

Best Mobile App Experience

Wells Fargo

Wells Fargo offers an iOS app rated 4.9 (vs. 4.8) and Android app rated 4.8 (vs. 4.0)

Shared Benefits

Available Nationwide Available to New & Existing Customers

The Bottom Line

Over a 1-year period, Wells Fargo's Platinum Savings pays $4 more interest on a $10,000 balance than Santander Bank's Santander Savings.

Santander BankWells Fargo

Automated Data Audit

Executive Summary

Wells Fargo offers a competitive Platinum Savings account with an APY of 0.05%, significantly higher than Santander Bank's Santander Savings account, which yields only 0.01%. However, the Platinum Savings account requires a minimum balance of $1,000,000 and must be linked to a Wells Fargo Premier checking account to access the higher rate. In contrast, both banks' savings accounts have a minimum deposit of $25 and do not require direct deposit. For those seeking simplicity, Santander's account may be an alternative, though it offers lower returns. Additionally, Wells Fargo is noted for its superior mobile app experience.

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.

ExploreSantander Bank ExploreWells Fargo

Stop Losing Interest

See who beats both Santander Bank and Wells Fargo.

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4.60% APY

+4.55% vs Wells Fargo

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Axos Bank

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FDIC InsuredNo MinimumsGreat iOS AppGreat Android App

4.31% APY

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Better Rate

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Feature	Santander Bank	Wells Fargo
APY	0.01% Verified: 12/6/2025 ↘︎ 0.02%90d Change	0.05% Range: 0.05% - 0.05% Verified: 12/6/2025 ↘︎ 2.46%90d Change
Product Name	Santander Savings	Platinum Savings
Minimum Deposit	$25	$25
Min. Balance for APY	$0	$1,000,000
Monthly Fee	$1	$12. Waived with $3,500 minimum daily balance.
Branch Access	Yes	Yes
Account Type	Online & Branches	Online & Branches
Direct Deposit Req.	None	None
Checking Bundle	No	Yes
Mobile Apps	iOS4.8 Android4.0	iOS4.9 Android4.8
BBB Rating	Not Rated	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.

Initial Deposit

Recurring Deposit

Frequency

Duration

Wells Fargo earns $22.9 more than Santander Bank.

Santander Bank

Santander Savings

0.01% APY

Savings Breakdown

Interest Earned
+$5.70(0.0%)
Total Contributions
$13,000
Initial Deposit
$5,000

Projected Balance

$18,005.70

Effective APY

0.01%

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

Metric	Santander Bank	Wells Fargo
	Santander Savings	Platinum Savings	Way2Save Savings
Current APYMost recent advertised annual-percentage yield.	0.01%	0.05%	0.01%
TrendDirection over the last 5 months (regression slope).	Stable	Stable	Stable
Velocity (bps/mo)Average monthly change; 10 bps = 0.10 pp.	-0.6	-72.0	0.0
Days Since ChangeRecency of the latest APY adjustment.	78	50	143
5-Month HighHighest APY in the last 144 days.	0.03%	2.51%	0.01%
5-Month LowLowest APY in the last 144 days.	0.01%	0.05%	0.01%
Adjustments / MoTypical number of APY moves per month.	0.21	0.63	0.00
Volatility ScoreCoefficient of variation (stdev ÷ mean). Lower is more stable.	0.543	0.843	0.000

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.

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More Comparisons

Compare Santander Bank's APY of 0.01% with other banks

Bank Pair	Competitor APY	Min Deposit
Santander Bank vs Ally Bank	3.30%	$0
Santander Bank vs American Express	3.40%	$0
Santander Bank vs Axos Bank	4.31%	$0
Santander Bank vs Bank of America	0.01%	$100
Santander Bank vs Barclays	4.00%	$0
Santander Bank vs Bask Bank	3.90%	$0
Santander Bank vs BMO Alto	3.25%	$0
Santander Bank vs BrioDirect	4.00%	$5,000
Santander Bank vs Capital One	3.40%	$0
Santander Bank vs Chase Bank	0.01%	$0
Santander Bank vs Chime	3.50%	$0
Santander Bank vs CIT Bank	3.75%	$100
Santander Bank vs Citibank	3.30%	$0
Santander Bank vs Citizens Access™	3.35%	$0.01
Santander Bank vs Climate First Bank	4.21%	$50
Santander Bank vs Discover Bank	3.40%	$0
Santander Bank vs Elevault	4.08%	$0
Santander Bank vs EverBank	4.05%	$0
Santander Bank vs Fitness Bank	4.75%	$100
Santander Bank vs FNBO Direct	3.00%	$1
Santander Bank vs Forbright Bank	4.00%	$0
Santander Bank vs FVCbank	3.85%	$500
Santander Bank vs GO2bank	4.50%	$0
Santander Bank vs Ivy Bank	4.25%	$2,500
Santander Bank vs LendingClub	4.20%	$0
Santander Bank vs Marcus by Goldman Sachs	3.65%	$0
Santander Bank vs Neighbors Bank	4.50%	$0
Santander Bank vs Newtek Bank	4.35%	$0.01
Santander Bank vs Openbank	4.20%	$500
Santander Bank vs Peak Bank	4.20%	$100
Santander Bank vs Pibank	4.60%	$0
Santander Bank vs PNC	3.53%	$0
Santander Bank vs Presidential Bank	4.00%	$5,000
Santander Bank vs Quontic Bank	3.75%	$100
Santander Bank vs Salem Five Direct	3.71%	$10
Santander Bank vs SoFi Bank	4.30%	$0
Santander Bank vs Synchrony Bank	3.65%	$0
Santander Bank vs TIMBR	4.40%	$1,000
Santander Bank vs UFB Direct	3.71%	$5000
Santander Bank vs Valley Direct	4.10%	$1,000
Santander Bank vs Varo Bank	5.00%	$0
Santander Bank vs Vio Bank	4.16%	$100
Santander Bank vs Wealthfront	4.15%	$0
Santander Bank vs Zynlo Bank	4.05%	$10

Compare Wells Fargo's APY of 0.05% with other banks

Bank Pair	Competitor APY	Min Deposit
Wells Fargo vs Ally Bank	3.30%	$0
Wells Fargo vs American Express	3.40%	$0
Wells Fargo vs Axos Bank	4.31%	$0
Wells Fargo vs Bank of America	0.01%	$100
Wells Fargo vs Barclays	4.00%	$0
Wells Fargo vs Bask Bank	3.90%	$0
Wells Fargo vs BMO Alto	3.25%	$0
Wells Fargo vs BrioDirect	4.00%	$5,000
Wells Fargo vs Capital One	3.40%	$0
Wells Fargo vs Chase Bank	0.01%	$0
Wells Fargo vs Chime	3.50%	$0
Wells Fargo vs CIT Bank	3.75%	$100
Wells Fargo vs Citibank	3.30%	$0
Wells Fargo vs Citizens Access™	3.35%	$0.01
Wells Fargo vs Climate First Bank	4.21%	$50
Wells Fargo vs Discover Bank	3.40%	$0
Wells Fargo vs Elevault	4.08%	$0
Wells Fargo vs EverBank	4.05%	$0
Wells Fargo vs Fitness Bank	4.75%	$100
Wells Fargo vs FNBO Direct	3.00%	$1
Wells Fargo vs Forbright Bank	4.00%	$0
Wells Fargo vs FVCbank	3.85%	$500
Wells Fargo vs GO2bank	4.50%	$0
Wells Fargo vs Ivy Bank	4.25%	$2,500
Wells Fargo vs LendingClub	4.20%	$0
Wells Fargo vs Marcus by Goldman Sachs	3.65%	$0
Wells Fargo vs Neighbors Bank	4.50%	$0
Wells Fargo vs Newtek Bank	4.35%	$0.01
Wells Fargo vs Openbank	4.20%	$500
Wells Fargo vs Peak Bank	4.20%	$100
Wells Fargo vs Pibank	4.60%	$0
Wells Fargo vs PNC	3.53%	$0
Wells Fargo vs Presidential Bank	4.00%	$5,000
Wells Fargo vs Quontic Bank	3.75%	$100
Wells Fargo vs Salem Five Direct	3.71%	$10
Wells Fargo vs SoFi Bank	4.30%	$0
Wells Fargo vs Synchrony Bank	3.65%	$0
Wells Fargo vs TIMBR	4.40%	$1,000
Wells Fargo vs UFB Direct	3.71%	$5000
Wells Fargo vs Valley Direct	4.10%	$1,000
Wells Fargo vs Varo Bank	5.00%	$0
Wells Fargo vs Vio Bank	4.16%	$100
Wells Fargo vs Wealthfront	4.15%	$0
Wells Fargo vs Zynlo Bank	4.05%	$10