Which pays more in 2026 — big banks or high-yield savings accounts?
High-yield savings accounts pay between 80× and 400× more interest than the standard savings tier at a big-three US bank as of April 2026. Top online HYSAs are advertising 3.20%–4.00% APY; Chase, Bank of America, and Wells Fargo standard savings tiers sit between 0.01% and 0.04%.
| Account | APY (April 2026) | Type |
|---|---|---|
| Chase Savings (standard) | 0.01% | Big bank |
| Bank of America Advantage Savings | 0.01%–0.04% | Big bank |
| Wells Fargo Way2Save | 0.01% | Big bank |
| American Express HYSA | 3.20% | Online HYSA |
| Marcus by Goldman Sachs | 3.50% | Online HYSA |
| SoFi Savings (with direct deposit) | 4.00% | Online HYSA |
Big-bank rates from each bank's published rate sheet, verified April 2026. HYSA rates from the Arca rate table (also April 2026); APYs are variable and can change without notice.
What rates are big banks paying right now?
Chase, Bank of America, and Wells Fargo have held their standard savings tiers near zero through both the 2020–2022 low-rate period and the 2023–2026 high-rate period. The published rates as of April 2026:
- Chase Savings: 0.01% APY on all balances on the standard tier; relationship tiers add basis points but do not approach HYSA levels.
- Bank of America Advantage Savings: 0.01% APY at the base tier; higher Preferred Rewards tiers reach 0.04% APY at the Platinum Honors level.
- Wells Fargo Way2Save: 0.01% APY; Premier Relationship tier brings it up modestly but still under 0.50%.
These banks fund a large branch and ATM network that online-first banks do not, and they price the savings account assuming most customers will not move it for a higher rate.
What rates are top high-yield accounts paying right now?
The three accounts in the Arca rate table pay between 3.20% and 4.00% APY as of April 2026:
- SoFi Savings — 4.00% APY. No fees, no minimum balance. The 4.00% tier requires a recurring direct deposit or $5,000+/month in qualifying deposits; otherwise the rate drops. FDIC insurance up to $2M via partner-bank sweep.
- Marcus by Goldman Sachs — 3.50% APY. No fees, no minimums, no tier requirements. No mobile check deposit and no debit card — funding is ACH, wire, or mailed check.
- American Express HYSA — 3.20% APY. No fees, no minimums. No debit card, no mobile check deposit, 24/7 US-based phone support. You do not need an Amex card to open the account.
All three are FDIC-insured. Variable rates — these will move with the federal funds rate.
How big is the dollar gap on a typical balance?
On a $25,000 balance — roughly the median emergency-fund target for a US household with $5,000 of monthly expenses — the annual gap between Chase's 0.01% and SoFi's 4.00% is $997.50 per year.
| Balance | Big bank @ 0.01% | HYSA @ 4.00% | Annual gap |
|---|---|---|---|
| $5,000 | $0.50 | $200.00 | $199.50 |
| $10,000 | $1.00 | $400.00 | $399.00 |
| $25,000 | $2.50 | $1,000.00 | $997.50 |
| $50,000 | $5.00 | $2,000.00 | $1,995.00 |
| $100,000 | $10.00 | $4,000.00 | $3,990.00 |
Compounded over five years (assuming both rates hold flat and interest is reinvested), the $25,000 gap widens to about $5,400.
What do you give up by switching to a high-yield account?
Most online HYSAs do not offer a debit card, ATM access, or in-person branches. Two of the three accounts in the Arca table — Marcus and American Express HYSA — do not support mobile check deposit; SoFi does. None of the three is set up to be your primary checking-replacement; they are designed to hold cash that earns interest while you spend from a separate account.
Other tradeoffs to verify on each bank's site before opening:
- Transfer speed. External ACH transfers typically settle in 1–5 business days. Same-day transfers are rare across banks; same-bank transfers are usually instant.
- Tier requirements. Some accounts (SoFi at 4.00%) require a direct deposit to earn the advertised top rate. Without it, the rate drops to a lower tier.
- Variable rates. Every advertised APY in this post can change without notice. Compare again before opening, and again whenever the federal funds rate moves.
- Funding options. Wire transfers may carry a fee; debit-card funding is uncommon at HYSAs; mailed checks are slow but accepted at most.
How to compare against your current account
Arca's calculator compares your current balance and APY against the live HYSA rate table and shows the annual and five-year dollar gap, plus the per-account features above. The numbers in this post update every time the rate table is changed, with the comparison date stamped in the header.
Arca provides information, not financial advice. Rates are sourced from each bank's public product page and verified manually. APYs are variable and can change at any time.