Save more starting today
Platinum Savings
Flexible account access
Automatic transfers1
Optional Overdraft Protection2
Relationship rates available3
Option to write checks
Monthly service fee
Bank your way with confidence
Get curated content, set financial goals, and track your progress today in LifeSync® (opens new window).4
Gaining account insights and moving money can be simple with Fargo (opens new window) 5 — your virtual assistant in the Wells Fargo Mobile® app.
Access Financial Goals (opens new window) for resources and tools that can help you make financial decisions, such as Credit Close-Up®6.
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Frequently Asked
Questions
A savings account is a bank account where you can store your money and
earn interest. Wells Fargo offers interest-bearing savings accounts.
Wells Fargo savings accounts allow you to save automatically to help you build towards
your savings goals. In return for keeping your money in a savings account, we pay you
interest depending on your interest rate.
You can open a savings account online or in-person at a Wells Fargo branch. You
must be 18 or older to apply online. 17 and under must open at a branch.
No matter how you apply, you’ll need:
- Your Social Security number
- Valid ID (driver's license, state ID, Consular ID)
- Current residential address
- $25 opening deposit
IDs required to open Opens Dialog (plus co-applicant’s information if applicable).
Joint Way2Save Savings and Platinum Savings accounts must be opened at a branch.
Make an appointment (opens new window)
Opens Dialog 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. IDs
required to open Opens Dialog.
Yes, all Wells Fargo savings funds in both savings accounts and Certificate of
Deposit (CD) accounts are FDIC-insured up to the maximum applicable limit.
Visit our FDIC Insurance page (opens new window) to learn more.
1. Terms and conditions apply. Setup is required for transfers to other U.S. financial institutions, and verification may take 1–3 business days. Customers should refer to their other U.S. financial institutions for information about any potential fees charged by those institutions. Mobile carrier’s message and data rates may apply. See Wells Fargo’s Online Access Agreement (opens new window) for more information.
2. Overdraft Protection is not available for Clear Access Banking accounts.
3. A Relationship Interest Rate is variable and subject to change at any time without notice, including setting the interest rate equal to the Standard Interest Rate or to zero (0.00%), which could change the Relationship Annual Percentage Yield (APY). For CDs, the change will occur upon renewal. To receive a disclosed Relationship Interest Rate/Relationship APY, the eligible savings account or CD must remain linked to a Prime Checking, Premier Checking or Private Bank Interest Checking account. Upon linking, or switching a linked account to an eligible savings account, it may take up to two business days for the Relationship Interest Rate to be applied to your eligible savings account. CDs must be linked at account open and/or at every renewal. If the checking account is closed for any reason or the eligible savings account or CD is de-linked, the account will revert to the then-current applicable Standard Interest Rate on that date; for CDs, this change will occur upon renewal. Any Special Interest Rate would not expire until the expiration date of that Special Interest Rate.
4. LifeSync® is available on the smartphone versions of the Wells Fargo Mobile® app. Additional device availability may vary. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.
5. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply. Fargo is only available on the smartphone versions of the Wells Fargo Mobile® app.
6. You must be a Wells Fargo account holder of an eligible Wells Fargo consumer account with a FICO® Score available, and enrolled in Wells Fargo Online®. Eligible Wells Fargo consumer accounts include deposit, loan, and credit accounts, but other consumer accounts may also be eligible. Contact Wells Fargo for details. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.
Please note that the score provided under this service is for educational purposes and may not be the score used by Wells Fargo to make credit decisions. Wells Fargo looks at many factors to determine your credit options; therefore, a specific FICO® Score or Wells Fargo credit rating does not guarantee a specific loan rate, approval of a loan, or an upgrade on a credit card.
FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.
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Save more starting today
How to avoid the monthly service fee for Way2Save® Savings
Minimum opening deposit is $25. Avoid the $5 monthly service
fee when you have one of the following each fee period:
- $300 minimum daily balance.
- 1 automatic transfer1 each fee period of $25 or more from a linked Wells Fargo checking account.
- 1 automatic transfer1 each business day within the fee period of $1 or more from a linked Wells Fargo checking account.
- 1 or more Save As You Go® transfers from a linked Wells Fargo checking account. A qualifying Save As You Go transfer is an automatic transfer of $1 from your linked Wells Fargo checking account to your Way2Save Savings account each time you, or any authorized signer or joint owner, use your debit card for a one-time purchase or complete a Bill Pay transaction through online banking, and the one-time debit card purchase or Bill Pay transaction posts to the account. We reserve the right to determine through our sole discretion if a particular transaction is a qualifying transaction.
- Primary account owner is 24 years old or under. When the primary account owner reaches the age of 25, age can no longer be used to avoid the monthly service fee. Customers 12 and under must have an adult co-owner.
How to avoid the monthly service fee for Platinum Savings
Minimum opening deposit is $25. The $12 monthly service fee
can be avoided each fee period with a:
- $3,500 minimum daily balance.
What you'll need to open a savings account
Must be 18 years or older to open a savings account online
Minors 17 and under must open at a branch:
Account owner
- Anyone 13 and older can open as a primary owner
- Minors 12 and under can open but must have an adult co-owner
Two forms of identification (ID) are needed to open at a branch
Each primary account owner and co-owner needs two IDs:
One Primary ID
Original versions of:
- State-issued or U.S. territory driver's license
- State-issued or U.S. territory ID card
- Passport
- U.S. Armed Forces ID
- Permanent resident card
- Employment authorization card
- Tribal Identification issued by a federally recognized U.S. tribal government
Non-U.S. citizens without a U.S. issued taxpayer identification number must provide a government issued ID that provides evidence of nationality or residence.
Plus a secondary ID
Original versions of:
- Employee ID
- Student ID
- Credit card
- ID issued by a recognized business or government agency
Proof of address is required — If neither primary nor secondary ID contains your physical address, separate proof of address (for example a utility bill or school enrollment statement) will need to be provided.
Minors without a primary ID need to be accompanied by an adult co-owner who is a relative or guardian, and bring identification such as a Social Security card, birth certificate, or student ID.