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Western Alliance Bank High-Yield Savings Premier Review: High Returns and Set-It-and-Forget-It Simplicity

Review Updated
Jake FitzGerald
Author: Jake FitzGerald
Jake FitzGerald
Jake FitzGerald
Editorial Strategist

Jake FitzGerald is a full-time Editorial Strategist and Personal Finance Writer at Motley Fool Money, leading content production and distribution while also writing about credit cards, bank accounts, and other financial products. He has more than a decade of experience editing and shaping financial content to give readers clear, trustworthy money advice. His work focuses on delivering practical insights that empower people to make smarter financial decisions. Off the clock, he’s a fan of college football tailgates and still loyal to his favorite putter -- despite what his short game suggests.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

Ready to earn one of the highest savings APYs in the country?

The Western Alliance Bank High-Yield Savings Premier account currently pays an eye-popping 4.10% APY -- with no monthly fees, no balance tiers, and unlimited withdrawals.

It's not the flashiest account around. But if you've got a fat stack of cash that you want to earn massive interest on, this is a great spot.

Western Alliance Bank High-Yield Savings Premier
Open Account for Western Alliance Bank High-Yield Savings Premier

On Western Alliance Bank's Secure Website.

Member FDIC.

Rates as of Oct 24, 2025

Western Alliance Bank High-Yield Savings Premier

Open Account for Western Alliance Bank High-Yield Savings Premier

On Western Alliance Bank's Secure Website.

Member FDIC.
4.40/5 Circle with letter I in it. 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.
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= Excellent
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4.40/5 Circle with letter I in it. 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.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for Western Alliance Bank High-Yield Savings Premier

On Western Alliance Bank's Secure Website.

APY
4.10% Rate info Circle with letter I in it. The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. To Earn APY
$500 to open, $0.01 for max APY
  • Competitive APY
  • No monthly account fee
  • Unlimited number of external transfers (up to daily transaction limits)
  • FDIC insured
  • Can open an individual or joint account
  • Deposits and withdrawals can only be conducted via ACH transfer to/from an external bank account (limit to one linked account)
  • No ATM access
  • No wire transfers (inbound and outbound)
  • No branch access; online only

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.

The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

What I like about the Western Alliance Bank High-Yield Savings Premier account

High APY

There's no doubt about it, the main reason to get this high-yield savings account is the sky-high APY. The 4.10% 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.

No account fees

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.

No withdrawal limits

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.

Compare savings rates

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 Bonus Next Steps
up to 4.50%
Rate info Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
Earn up to $300 and +0.70% Boost on Savings APY with direct deposit. Terms apply. Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
3.85%
Rate info Circle with letter I in it. 3.85% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $5,000
Earn a bonus of up to $300 after a one-time deposit of $25,000+ Circle with letter I in it. This limited-time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025, and can end at any time without notice. Customers will receive a $225 or a $300 bonus provided that the program requirements are met. Click here to see promotion details and terms: https://www.cit.com/cit-bank/platinum-savings/PS2025
4.10%
Rate info Circle with letter I in it. The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn: $500 to open, $0.01 for max APY
N/A
Disclaimers

The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.

For complete list of account details and fees, see our Personal Account disclosures.

Downsides you should consider

High minimum to open an account

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 4.10% APY.

Online-only account with no ATM access

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.

Cannot access this account through a mobile app

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 could take time

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.

Customer service

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.

Accessing your money

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 and reliability

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.

Who is this account best for?

This account is a great fit for:

  • Savers with at least $500 ready to deposit
  • People who don't need ATM or mobile access
  • Anyone who wants an easy way to earn a high return on idle cash

If you're chasing every digital feature and want full app integration, this isn't the account for you.

But if you like the idea of passive, high-interest growth, and you're comfortable managing your savings via desktop, you'll love what Western Alliance Bank offers.

Open your account now and start earning 4.10% APY on your savings.

FAQs

  • 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.