Wealthfront vs. Wells Fargo
Comparing Wealthfront and Wells Fargo for savings: Wealthfront's Cash Account pays 3.95% APY (including a 3-month 0.65% promo boost) 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? Wealthfront pays $341 more than Wells Fargo annually ($346 vs $5).
Choose Wealthfront if getting the best rate matters most. Choose Wells Fargo if you want to avoid a promo rate with a scheduled drop, BBB rating matters to you, you value in-person banking, or you want Zelle for quick transfers.
Important Considerations
The key difference? Wealthfront's 3.95% rate includes a promotional bonus for the first 3 months, after which it reverts to the standard rate (currently 3.30%). Wells Fargo's 0.05% rate has no scheduled drop, though all rates are subject to change.
Wells Fargo requires a checking account to unlock its top savings rate, while Wealthfront offers its savings account standalone.
| Metric | WealthfrontCash Account Feb 21, 2026 | Wells FargoPlatinum Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.30% - 3.95% | 0.05% |
Est. Earnings | $5,000+$173 $10,000+$346 $25,000+$866 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 3.95% for 3 months, after which the 3.30% APY applies. See terms at Wealthfront. | 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 InsuredNo MinimumsGreat iOS AppGreat Android AppDaily 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 Wealthfront vs. Wells Fargo
Executive Summary
Wealthfront offers a Cash Account with a promotional APY of 3.95%, significantly outpacing Wells Fargo's highest savings option, the Platinum Savings account, which yields only 0.05% APY for balances over $1,000,000. Wealthfront's account has no minimum deposit requirement, no maintenance fees, and does not require direct deposit, making it a straightforward choice for savers. In contrast, Wells Fargo's Way2Save Savings account provides a minimal APY of 0.01% and has a $25 minimum deposit, with a $5 maintenance fee that can be waived under certain conditions. Overall, Wealthfront stands out for its higher returns and simplicity.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Wealthfront?
- ✓Higher potential APY (3.95% 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
WealthfrontWealthfront's Cash Account earns more on smaller deposits (approx. $346 vs $5/yr).
Better Returns at $25,000
WealthfrontWealthfront's Cash Account pulls ahead with larger amounts (approx. $866 vs $13/yr).
Best for Simplicity
WealthfrontWealthfront's Cash Account offers 3.95% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period (factoring in a 3-month promo), Wealthfront's Cash Account pays $341 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
*Wealthfront's calculation includes their 3-month introductory promotional rate and subsequent standard rate.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Wealthfront vs. Wells Fargo Savings Calculator
You earn $342.5 more with Wealthfront 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.
Wealthfront
Cash Account
Promo Rate: 3.95% for 3 months, then 3.30%.
Savings Breakdown
- Interest Earned+$347.50(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,347.50
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 | Wealthfront | Wells Fargo |
|---|---|---|
| APY | 3.95% Range: 3.30% - 3.95% Verified: 2/21/2026 ↘︎ 0.20%90d Change | 0.05% Range: 0.05% - 0.05% Verified: 2/21/2026 Stable (90d) |
| Product Name | Cash Account | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $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 | 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 | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | F | A- |
| Important Notes | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 3.95% for 3 months, after which the 3.30% APY applies. See terms at Wealthfront. | 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 Wealthfront 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 | Wealthfront | Wells Fargo | |
|---|---|---|---|
| Cash Account | Platinum Savings | Way2Save Savings | |
Current APY | 3.95% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -8.6 | -0.0 | 0.0 |
Days Since Change | 22 | 100 | 100 |
3-Month High | 4.15% | 0.05% | 0.01% |
3-Month Low | 3.90% | 0.05% | 0.01% |
Adjustments / Mo | 0.60 | 0.00 | 0.00 |
Volatility Score | 0.028 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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