Savings account from Wells Fargo Bank (Member FDIC), with a branch network.
Wells Fargo Way2Save Savings
Wells Fargo ·
- APY
- 0.01%
- Minimum
- $25
- Monthly fee
- $5
Wells Fargo checking customers who want a basic linked savings account
- Opens with $25
- Save As You Go moves $1 from checking for each qualifying debit card purchase or Bill Pay
- Several ways to avoid the monthly fee, including a $300 minimum daily balance
- 0.01% APY is far below the online accounts on this page
- $5 monthly service fee unless you meet a waiver
Our verdict
Wells Fargo Way2Save Savings scores 1.2 out of 5 (24.6 of 100 points) in our method, which ranks it #8 of 8 verified savings accounts we compare. Best for: wells Fargo checking customers who want a basic linked savings account.
Key terms
| APY | 0.01% |
|---|---|
| Minimum | $25 |
| Monthly fee | $5 |
| Deposit insurance | FDIC-insured, as stated by the provider |
| Terms verified | 11/05/2026 |
Pros and cons
Pros
- Opens with $25
- Save As You Go moves $1 from checking for each qualifying debit card purchase or Bill Pay
- Several ways to avoid the monthly fee, including a $300 minimum daily balance
Cons
- 0.01% APY is far below the online accounts on this page
- $5 monthly service fee unless you meet a waiver
Who it is for
- A good fit: Wells Fargo checking customers who want a basic linked savings account.
- Look at other options if any of these is a dealbreaker: 0.01% APY is far below the online accounts on this page; $5 monthly service fee unless you meet a waiver.
How it compares
| Account | APY | Minimum | Monthly fee | Our rating |
|---|---|---|---|---|
| Synchrony Bank High Yield Savings | 3.75% | None | None | 3.7 |
| CIT Bank Savings Connect | 3.65% | $100 | None | 3.6 |
| Marcus Online Savings Account | 3.50% | None | None | 3.5 |
| Ally Bank Savings Account | 3.20% | None | None | 3.4 |
| Capital One 360 Performance Savings | 3.20% | None | None | 3.4 |
| American Express High Yield Savings Account | 3.20% | None | None | 3.4 |
| Quontic High Yield Savings | 3.20% | $100 | None | 3.3 |
| Wells Fargo Way2Save Savings | 0.01% | $25 | $5 | 1.2 |
See it in our full comparison: High-Yield Savings Accounts: Compared.
How we scored it
The score uses only the savings account’s published terms. Whether a provider pays us, or whether we have any agreement with it, plays no part. Read the full method.
| Part | Weight | This savings account |
|---|---|---|
| APY | 60 | 0 / 100 |
| Fees and minimums | 25 | 83 / 100 |
| Tools and service | 15 | not scored |
Frequently asked questions
What is the APY on the Wells Fargo Way2Save Savings?
Wells Fargo advertised an APY of 0.01% on 11/05/2026. Savings rates are variable and can change at any time, so check the current rate on the provider's site before you open an account.
Does the Wells Fargo Way2Save Savings have fees or a minimum deposit?
Monthly fee: $5. Minimum to open: $25. (Provider terms, verified 11/05/2026.)
Is the Wells Fargo Way2Save Savings FDIC insured?
Yes, according to the provider. FDIC insurance covers deposits up to $250,000 per depositor, per insured bank, per ownership category. You can check any bank in FDIC BankFind.
How much would $10,000 earn in a year?
At 0.01% APY, about $1 over 12 months if the rate did not change (APY already includes compounding). Try your own numbers in the compound interest calculator.
Sources
- Wells Fargo product page, read 11/05/2026
- FDIC: deposit insurance coverage
Terms change; confirm them on the provider’s site. Not financial advice.