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Image by Getty Images; Illustration by Bankrate June 22, 2022 Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications. Brian Beers is the managing editor for the Wealth team at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money. Bankrate logo The Bankrate promise
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Wells Fargo offers customers two savings accounts, though the differences between them is slight. The yields, in line with other big banks, are meager on both accounts, and much higher APYs can be elsewhere, such as at online-only banks. On the other hand, Wells Fargo has branches, lots of them, and offers top-notch tools for accessing savings accounts virtually. Wells Fargo has more than 4,800 branches, which is only second to Chase for the And its mobile app has earned favorable reviews on Google Play and in Apple’s App Store. earned 3.4 out of 5 stars in Bankrate’s review across its deposit products, while its savings accounts earned 2.7 out of 5 stars. Wells Fargo savings account rates
Wells Fargo offers two standard savings accounts: the Wells Fargo Way2Save Savings, and a premium account with some added benefits, called Platinum Savings. The Platinum Savings account also has a slightly higher, variable relationship rate supplement for those who are part of the Portfolio by Wells Fargo program. This program comes with a checking account and added benefits, including higher limits for transferring or depositing money. Here’s a breakdown of the savings account options. Account name Interest rate APY Minimum deposit Way2Save Savings 0.01% 0.01% $25 Platinum Savings 0.01% 0.01% $25 Platinum Savings with relationship rate 0.02% 0.02% $25 Note: Annual percentage yields (APYs) shown are as of June 21, 2022, and may vary by region for some products. How Wells Fargo savings accounts compare to top-yielding banks
The rates offered by Wells Fargo on its savings accounts are next to nothing and lower than the . Wells Fargo is a large, well-known financial institution, but many other banks offer higher . , and are among online-only banks offering some of the highest rates. A higher APY can help you reach your faster. It can be difficult to in an account that only offers 0.01 percent APY when there are other options that pay significantly more. Having an account with Wells Fargo, however, may interest those who value the accessibility of its many branches and ATMs. Other savings options at Wells Fargo
Wells Fargo does offer alternatives, including a and , if you are interested in growing your money beyond a savings account. SHARE: Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications. Brian Beers is the managing editor for the Wealth team at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money. Related Articles