Ally Bank vs Wells Fargo Savings Account Comparison
Updated June 15, 2026 · Rates from official provider sources
Ally Bank has the higher savings rate right now.
The APY gap is 4.19%. On a $25,000 balance, that is about $1,048/year. If the dollar difference is small, choose based on transfer speed, app fit, and whether you want checking in the same place.
Ally Savings
Ally Bank
Wells Fargo Way2Save
Wells Fargo
Dollar Difference by Balance
| Balance | Ally Bank | Wells Fargo | Difference |
|---|---|---|---|
| $10,000 | $420/yr | $1/yr | $419/yr |
| $25,000 | $1,050/yr | $3/yr | $1,047/yr |
| $50,000 | $2,100/yr | $5/yr | $2,095/yr |
| $100,000 | $4,200/yr | $10/yr | $4,190/yr |
Advertising disclosure: Some products are from partners. This does not affect rankings.
Full disclosure →SoFi Checking & Savings
SoFi
Based on your savings balance, this account maximizes your yield with FDIC protection.
Advertising disclosure: SwitchWize may earn a referral fee if you open an account through this link. This does not affect our rankings or recommendations. Learn more
Calculate your gap
Enter your actual balance and current APY to see the dollar difference.
Scan the whole picture
Check savings, debt, mortgage, and cards before you switch anything.
Browse live offers
Compare APY, fees, minimums, insurance status, and switching friction.
How to read this comparison
The rate table is useful for the math, but it is not the whole decision. Confirm current APY, transfer timing, account availability, minimum balance rules, and any linked-account requirements before opening. Savings rates can change after this page refreshes.
FAQ
Which is better, Ally Bank or Wells Fargo savings?
Ally Savings currently pays 4.20% APY vs Wells Fargo Way2Save at 0.01% APY — a 4.19% point advantage. On $25,000, that difference is $1,048 per year.
Are Ally Bank and Wells Fargo savings accounts FDIC insured?
Yes, both accounts are FDIC insured up to $250,000 per depositor.
Can I have accounts at both banks?
Yes. There is no limit to how many savings accounts you can have. Some people use multiple HYSAs for different savings goals.