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With a jaw-dropping 4.30% APY, Western Alliance Bank High-Yield Savings Premier delivers the kind of returns you simply can't ignore. This account is a great choice for set-and-forget banking -- you can park your cash here, forget about it, and watch it grow.
However, you'll need to be okay with some trade-offs, like no ATM access or mobile app experience. Keep reading to see if this account is the right fit for you.
Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website.
On Western Alliance Bank's Secure Website.
Western Alliance Bank offers a higher APY than most high-yield savings accounts. Plus, it's FDIC insured; therefore, deposits are perfectly safe up to applicable legal limits. The main drawback is that accounts don't have many features. For example, you can only deposit and withdraw funds via ACH transfer to/from an external bank account. This account is solid for those who want a sky-high APY, but don't mind a bare-bones banking experience.
At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.
Our scores are weighted as:
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.
Our scores are weighted as:
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
There's no doubt about it, the main reason to get this high-yield savings account is the sky-high APY. The 4.30% APY offered by Western Alliance Bank consistently puts it at the top of the high-yield savings game.
While rates do fluctuate, Western Alliance Bank typically lands on the higher end of the market. And the best part? There are no savings tiers -- while a minimum $500 deposit is required to open the account, even a $0.01 ongoing balance can earn that sweet, sweet interest.
What's better than a high APY so your money grows for you? No fees to cut into that growth. You won't have to pay any fees to open or maintain your account -- period. While some other banks charge fees for maintaining your account, Western Alliance Bank won't.
While other banks sometimes limit withdrawals from high-yield savings accounts to six per month, Western Alliance Bank High-Yield Savings Premier has no withdrawal limits. It's your money, and you can access it when you need it.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
Account | APY | Promotion | Next Steps |
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn: $0
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New customers can earn up to a $300 bonus with qualifying direct deposits!
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
3.60%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 8, 2025. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
|
N/A
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
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Open Account for Barclays Tiered Savings
On Barclays' Secure Website.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
4.00%
Rate info
Balances less than $250,000 earn 4.00%, and balances greater than $250,000 earn 4.20%.
Min. to earn: $0
|
N/A
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Open Account for Barclays Tiered Savings
On Barclays' Secure Website. |
At $500, the minimum deposit required to open this account is a bit of a middle ground. Some accounts require less upfront but trade off for a lower APY, while others ask for more to earn slightly higher rates. If you're strapped for cash and can't meet the minimum, this isn't the account for you.
But for some people, $500 is totally doable, especially given the potential for big returns with just a small initial investment. And remember, even with $0.01 in your account, you'll still earn that 4.30% APY.
As a completely online account, Western Alliance Bank High-Yield Savings Premier doesn't offer in-person services or ATM access. This means no popping into a branch for face-to-face help or withdrawing cash at an ATM.
If you need ATM access on the regular or prefer branch access in your banking, you'll want to consider other options. But for those who are comfortable with digital banking and just need to park their savings, this shouldn't be a dealbreaker. Before making a decision, make sure to review how to choose the right savings account for your needs.
Here's a biggie: although Western Alliance Bank does have a mobile app, its high-yield savings account isn't available through it. You'll need to access the account via the website -- definitely a minus for those who prefer managing everything on their phones. If you like having everything at your fingertips in a slick app, this could be a sticking point.
Funding your account isn't as seamless as other banks. You can only link one external bank account, and you can't use wire transfers or check deposits to fund your account. Plus, it takes up to five business days for your initial deposit to process.
Want to switch your linked bank account? That could take up to 30 business days while Western Alliance Bank reviews and approves the request.
Neither of these should be dealbreakers if you don't plan on making frequent changes, which is why it's great for set-and-forget banking. But if there's a chance any of these apply to you, it may not be the best place to park your money.
Western Alliance Bank has a dedicated customer service line for its savings account, available Monday through Friday from 6 a.m. to 6 p.m. PDT at (866)-347-1476. However, compared to many competitors that offer 24/7 support via phone or chat, this limited availability may be a downside for some users.
Accessibility is arguably the most important part of a high-yield savings account -- if you don't need to access these funds, a brokerage account might work just as well. But a high-yield savings account shines for growing your savings at a much higher rate than the national average, while also keeping the funds accessible.
So how does Western Alliance Bank High-Yield Savings Premier stack up? Accessibility isn't as great as other high-yield savings accounts out there, but again, you're trading off a high APY for that. As mentioned above, this account is online-only and doesn't offer a debit card or ATM access, so it's already less accessible than others on the market.
However, the unlimited withdrawals are a plus, giving you flexibility when you need it. If you're willing to trade some convenience for a higher return, this account could be a great choice.
Security is one of the primary concerns most people have with putting a good amount of money in an online-only account. If things went south, you need to know your funds would be protected.
Rest assured that Western Alliance Bank is safe, as it's FDIC insured up to $250,000 per depositor. With fraud protection, SSL encryption, and automatic logouts, this account offers a reliable place to stash your savings.
If you're new to online banking, you might want to read more about whether online banks are safe.
This account is ideal for:
If you can handle the occasional hiccups like limited accessibility, the Western Alliance High-Yield Savings Premier account is an excellent choice for maximizing your savings with minimal hassle.
Ready to jump in? Let your money work for you and open an account today Western Alliance Bank High-Yield Savings Premier
No, there are no maintenance or service fees for the Western Alliance Bank High-Yield Savings Premier account, so your savings can grow without any deductions.
No, the Western Alliance Bank High-Yield Savings Premier account is not accessible through the bank's mobile app and can only be managed via the website.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.
*Accurate as of the time of publication. The national average rate referenced is from the FDIC's published National Rates and Rate Caps for Savings deposit products, accurate as of March 17, 2025. See the FDIC website for more information.