I have both a savings and checking account with Wells Fargo and I'm just getting disappointed by the fact that I don't get hardly any interest. Is there somewhere else I could stick my money so that I could still have quick and easy access to it, but it would be invested in mutual funds or something with a more serious return on investment with minimal fees?

Just curious to know what my other options might be.

  • 4
    E-Banks typically have better savings account rates. Barclay, Ally, Cap1-360, etc. are between .75% and 1.05%. It's not great, but definitely better than WF's 0.1% or whatever it is now. Answers to this question will also depend on how much $ you're talking about.
    – BobbyScon
    May 24, 2016 at 19:58
  • 2
    The first thing you need to do is ditch Well's Wargo (or other big commercial banks) and investigate a credit union. The interest won't be much better, but the fees should be.
    – JohnFx
    May 27, 2016 at 23:41
  • @BobbyScon = Why not make your comment an answer? I'd upvote it.
    – JohnFx
    May 27, 2016 at 23:44
  • @JohnFx - I was waiting to see what amount range the OP is talking about. I don't have any other suggestions than those e-bank options, but I figured someone out there might know of some better things, or could describe them more succinctly. Like CD ladders and short-term stocks or something. Thanks for the shout-out, though!
    – BobbyScon
    May 28, 2016 at 0:59

1 Answer 1


Deposit accounts lists savings rates for most of the online banks that offer savings accounts. Select one of the accounts with higher interest and you'll earn more on your money that you can with a savings account at Wells Fargo. You can transfer the money from Wells Fargo to one of the online lenders using electronic funds transfer.

If you plan to invest the money, you should consider what the purpose is long-term. If you don't plan on needing it for ~5 years or so you could consider a bond fund from Vanguard. Understand that while, this would be low risk, you could still lose money and this doesn't provide the same level of safety as a bank savings account from Wells Fargo or one of the online banks.

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