Wells Fargo Savings accounts

Do you want to learn about all the savings accounts you can open with Wells Fargo? At Responsible Economy, we have conducted a comprehensive analysis of all the savings accounts you can apply for with Wells Fargo, including their features. You will also find a comparison with the best savings accounts. Let’s get started!

Savings accounts offered by Wells Fargo

Currently, Wells Fargo offers two savings accounts: Way2Save Savings and Platinum Savings. Now let’s take a look at the features of each account.

Way2Save Savings

With Wells Fargo’s Way2Save Savings account, you can easily establish a savings routine by linking it to your Wells Fargo checking account and choosing the automatic savings option that suits you best.

Save As You Go Transfers

To make saving effortless, Wells Fargo offers Save As You Go transfers. Every time you make a one-time purchase using your debit card or complete a Bill Pay transaction through online banking, $1 will be automatically transferred from your linked Wells Fargo checking account to your Way2Save Savings account.

Automatic Transfers

You can set up regular automatic transfers from your linked Wells Fargo checking account to your Way2Save Savings account. Choose between monthly savings with a minimum automatic transfer of $25 or daily savings with an automatic transfer of as little as $1.

Way2Save Savings Account Interest Rates

The Way2Save Savings account offers variable interest rates, compounded daily. Currently, the standard interest rate is 0.15% with an Annual Percentage Yield (APY) of 0.15%.

Fees

To avoid a monthly service fee of $5, you can meet any of the following requirements during each fee period:

  • Maintain a minimum daily balance of $300
  • Make an automatic transfer of $25 or more from your linked Wells Fargo checking account
  • Make an automatic transfer of $1 or more every business day from your linked Wells Fargo checking account
  • Perform one or more Save As You Go® transfers from your linked Wells Fargo checking account
  • The primary account owner is 24 years old or younger

Requirements

To open a Way2Save Savings account, you must be 18 years or older and the minimum opening deposit required is $25.

Platinum Savings account

The Wells Fargo Platinum Savings account offers a flexible and rewarding savings solution that allows your funds to grow over time. With features like automatic transfers and relationship benefits, this account provides an opportunity for both growth and convenience.

Growth and Relationship Opportunities

By setting up automatic transfers, you can build your savings effortlessly. Additionally, when you link your Platinum Savings account to an eligible checking account, you can qualify for the Relationship Interest Rate, which offers even more competitive rates.

Flexible Access to Your Money

Platinum Savings provides the perfect balance of earning interest and having easy access to your funds. You can conveniently manage your money through online and mobile access, enjoy unlimited branch and Wells Fargo ATM withdrawals, and even have the option to write checks.

Interest Rates

BalanceStandard Interest RateAnnual Percentage Yield (APY)Relationship Interest RateRelationship APY
$0 – $99.999,990.25%0.25%0.26%0.26%
$100.000 – $499.999,991.00%1.01%1.01%1.02%
$500.000 – $999.999,991.98%2.00%1.99%2.01%
$1.000.000 or more2.47%2.50%2.48%2.51%
Platinum Savings account interest rates

The Platinum Savings account offers tiered interest rates based on your balance, allowing your savings to grow even faster. Both the Standard Interest Rate and the Relationship Interest Rate are listed, along with their corresponding Annual Percentage Yields (APYs). It’s important to note that the Relationship Interest Rate requires linking to an eligible checking account.

Fees

To avoid the monthly service fee of $12, you can maintain a minimum daily balance of $3,500 each fee period.

Opening an Account

To open a Wells Fargo Platinum Savings account, you must be 18 years or older and the minimum opening deposit required is $25.

Wells Fargo Savings account video

We have created a video with all the features of the Wells Fargo savings accounts:

YouTube video
features of the Wells Fargo savings accounts

Best savings accounts 2023

We have compiled a comparison of the best savings accounts available to open in the United States:

CIT Bank Logo
  • 4.05% APY
  • Minimum deposit: $100
  • No welcome bonus
  • Member FDIC
Marcus by Goldman Sachs
  • 4.30% APY
  • Minimum deposit: $0
  • Welcome bonus: $100
  • Member FDIC
synchrony-bank-logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo Sofi
  • 4.50% APY
  • Minimum deposit: $0
  • Welcome bonus: $250
  • Member FDIC
Barclays Logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo capital One CDs
  • 4.30% APY
  • Minimum deposit: $0
  • Member FDIC
  • No welcome bonus
Discover logo
  • 4.30 APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC

Learn more about Wells Fargo

We have created a table with general information about Wells Fargo.

InformationDescription
Webhttps://www.wellsfargo.com/
Facebookhttps://www.facebook.com/wellsfargo/
Linkedinhttps://www.linkedin.com/company/wellsfargo/
Twitterhttps://twitter.com/wellsfargo/
Phone1 (800) 869-3557
Information about Wells Fargo

Anothers products of Wells Fargo

Here is a list with more information on other Wells Fargo products:

Related content

Finally, we show you related content about savings accounts:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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