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The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a 365-day period. Your account statement will include the APY earned on your savings accounts and interest-earning checking accounts for the period covered by the statement.
A flexible savings account with room to grow
Growth and relationship opportunities
Build your savings automatically with automatic transfers. Plus, earn the Relationship Interest Rate when you link your Platinum Savings account to an eligible checking account.
Flexible access to your money
Platinum Savings is an interest-bearing savings account that offers better rates and easy access to your funds. Your money will be ready when you need it — including through online and mobile access, unlimited branch and Wells Fargo ATM withdrawals, along with the option to write checks.
Platinum Savings account interest rates and fees
Platinum Savings - Standard Interest Rate Compare rates
| Balance | Standard Interest Rate | Annual Percentage Yield (APY) | Relationship Interest Rate | Relationship APY |
|---|---|---|---|---|
| $0 - $99,999.99 | 0.25% | 0.25% | 0.26% | 0.26% |
| $100,000 - $499,999.99 | 1.00% | 1.01% | 1.01% | 1.02% |
| $500,000 - $999,999.99 | 1.98% | 2.00% | 1.99% | 2.01% |
| $1,000,000 or more | 2.47% | 2.50% | 2.48% | 2.51% |
Account fees and details
- Monthly service fee: $12
- Avoid the monthly service fee with a $3,500 minimum daily balance each fee period
- Other fees may apply; please see the Consumer Account Fee and Information Schedule and Deposit Account Agreement for details
How to open an account
- You must be 18 or older to apply online
- View age and ID requirements to open
- Minimum opening deposit: $25
Platinum Savings account FAQs
What is a Wells Fargo Platinum Savings Account?
The Platinum Savings account is an interest-bearing savings account with FDIC insurance protection up to the maximum limits. This account allows you to build your savings automatically with automatic transfers.
There are also several easy ways to get to your money when you need it, including online and mobile access, unlimited branch and Wells Fargo ATM withdrawals, and the option to write checks.
Plus, this account can earn the Relationship Interest Rate when linked to an eligible checking account.
What do I need to open a Platinum Savings account?
To open an account, you'll need:
- Your Social Security number
- A valid ID (driver's license, state ID, or Consular ID)
- Your current residential address
- A $25 minimum opening deposit
Apply in just a few minutes through Wells Fargo Online® or at a Wells Fargo branch near you.
You must be 18 or older to apply online.
How do I open a joint savings account?
Joint savings accounts must be opened at a branch. Make an appointment to get started.
You need the same information that is required to open an individual savings account, but you'll need it for both applicants. Please review the age and ID requirements before your appointment.
Do savings accounts earn interest?
Yes. Platinum Savings is an interest-bearing savings account.
Interest is compounded daily and paid monthly. Interest is calculated and accrued daily based on the daily collected balances in the account.
Explore today's rates to learn more.
What is a Relationship Interest Rate?
The Relationship Interest Rate is a higher interest rate available to customers who link eligible savings or CD accounts to eligible checking accounts.
How do I avoid the monthly service fee for Platinum Savings?
Avoid the monthly service fee with a $3,500 minimum daily balance each fee period.
How do I access the funds in my savings account?
You can request an ATM card to access your savings funds if you don't have a Wells Fargo checking account.
If you have a Wells Fargo checking account, you can use your debit card to access funds in your savings account.
Learn more about how to access money in your savings account by exploring our debit and ATM card FAQs.
How many withdrawals or transfers can I make from Platinum Savings?
You can make unlimited withdrawals or transfers in or out of your Platinum Savings account.
Can I write checks with Platinum Savings?
A Platinum Savings account allows you to write checks for easy access to your money when you need it.
Are my Platinum Savings funds FDIC-insured?
Yes, your Platinum Savings funds are FDIC-insured up to the maximum applicable limits.
Visit our FDIC Insurance page to learn more.
Enjoy these benefits of a Wells Fargo savings account
The Wells Fargo Mobile® app to pay bills, deposit checks, send and receive money with Zelle®, and more.
Optional Overdraft Protection – use your Platinum Savings account to help protect your linked Wells Fargo checking account from overdrafts.
ATM card for convenient ATM access to your savings.
My Savings Plan® to help you set and track your goal, plus automatic transfers to make saving easy.
