EverBank vs. Wells Fargo
EverBank's Performance 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? EverBank pays $385 more than Wells Fargo annually ($390 vs $5).
Choose EverBank if getting the best rate matters most, you want a no-strings-attached account, or BBB rating matters to you. Choose Wells Fargo if you value in-person banking.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while EverBank offers its savings account standalone.
| Metric | EverBankPerformance Savings Aug 20, 2026 | Wells FargoPlatinum Savings Aug 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 | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | - | This is a tiered savings account where rates vary based on the balance. The highest rates 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 AppZelle® SupportedDaily CompoundingStable Rate | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Comparison Analysis
Comparing EverBank vs. Wells Fargo
Executive Summary
A detailed summary for this comparison is being prepared. Check back soon.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why EverBank?
- ✓Higher potential APY (3.90% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Offers 2 different high-yield savings options
Key Feature Differences
Better Returns at $10,000
EverBankEverBank's Performance Savings earns more on smaller deposits (approx. $390 vs $5/yr).
Better Returns at $25,000
EverBankEverBank's Performance Savings pulls ahead with larger amounts (approx. $975 vs $13/yr).
Best for Simplicity
EverBankEverBank's Performance Savings offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, EverBank's Performance 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
EverBank vs. Wells Fargo Savings Calculator
You earn $385 more with EverBank 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.
EverBank
Performance 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
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 | EverBank | Wells Fargo |
|---|---|---|
| APY | 3.90% Verified: 8/20/2026 - | 0.05% Verified: 8/21/2026 - |
| Product Name | Performance Savings | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | 11 locations in Florida and California | 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 or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Native integration verified. | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | D- |
| Important Notes | - | This is a tiered savings account where rates vary based on the balance. The highest rates require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Next Steps | Visit SiteVerify at EverBank 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 | EverBank | Wells Fargo | |
|---|---|---|---|
| Performance Savings | Platinum Savings | Way2Save Savings | |
Current APY | 3.90% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -5.9 | -48.1 | 0.0 |
Days Since Change | 245 | 308 | 361 |
12-Month High | 4.30% | 2.51% | 0.01% |
12-Month Low | 3.90% | 0.05% | 0.01% |
Adjustments / Mo | 0.17 | 0.25 | 0.00 |
Volatility Score | 0.030 | 1.552 | 0.000 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare EverBank vs...
Comparing against Standard Savings
Compare Wells Fargo vs...
Comparing against other Bundled Accounts
More Comparisons
Compare EverBank's APY of 3.90% with other banks
Compare Wells Fargo's APY of 0.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Wells Fargo vs Ally Bank | 3.00% | $0 |
| Wells Fargo vs American Express | 3.00% | $0 |
| Wells Fargo vs Axos Bank | 4.21% | $0 |
| Wells Fargo vs Barclays | 3.65% | $0 |
| Wells Fargo vs Capital One | 3.50% | $0 |
| Wells Fargo vs Chime | 3.75% | $0 |
| Wells Fargo vs CIT Bank | 3.75% | $100 |
| Wells Fargo vs Marcus by Goldman Sachs | 3.40% | $0 |
| Wells Fargo vs Newtek Bank | 4.20% | $100 |
| Wells Fargo vs Openbank | 3.80% | $500 |
| Wells Fargo vs Pibank | 4.10% | $0 |
| Wells Fargo vs SoFi Bank | 3.80% | $0 |
| Wells Fargo vs Synchrony Bank | 3.30% | $0 |
| Wells Fargo vs Varo Bank | 3.75% | $0 |
| Wells Fargo vs Wealthfront | 3.95% | $0 |