Yeah the difference you see between the banks that actually give good rates and not is amazing.
Ally is offering 1.80% on savings right now. Wells fargo is offering at most 0.15%.
Wells Fargo has obviously done the math and realized that their customers simply do not care to switch accounts even though the interest they offer is abyssmal. Pretty weird stuff. As rates rise slowly it will be interesting to see whether the frogs finally get hot enough to jump out of the pan and abandon wells fargo, forcing them to raise rates.
Or there are people like me who hold their business & personal accounts at wells fargo, but have savings accounts at banks such as ally & citizen's access. You don't have to go all in on a single bank.
Ally is offering 1.80% on savings right now. Wells fargo is offering at most 0.15%.
Wells Fargo has obviously done the math and realized that their customers simply do not care to switch accounts even though the interest they offer is abyssmal. Pretty weird stuff. As rates rise slowly it will be interesting to see whether the frogs finally get hot enough to jump out of the pan and abandon wells fargo, forcing them to raise rates.
https://www.wellsfargo.com/savings-cds/consumer-account-rate... https://www.ally.com/bank/view-rates/