Western Alliance Summary

Earn More With Individual Or Joint Account

Western Alliance Key Features

✓ Earn up to 4.30% APY on savings
✓ $0 monthly fees
✓ No minimum initial deposit
✓ 24/7 online access to funds

Annual Percentage Yield (APY):

  • Approximately 4.30% APY—more than 10 times the national savings account average.  

Account Highlights:

  • Minimum Opening Deposit: $500

  • Fees: No monthly maintenance charges.

  • FDIC Insurance: Covers up to $250,000 per depositor (and up to $500,000 for joint accounts).

  • Compound Interest: Calculated daily, paid monthly.

  • Access: Account setup and access are exclusively online. Withdrawals are processed via ACH to one linked external account; checks, wire transfers, or ATM access are not supported.

Institutional Strength:

  • Backed by Western Alliance Bancorporation, which manages $85 billion in assets and earns top rankings from publications like American Banker and Institutional Investor.

Western Alliance Bank — Personal Savings Account

Account Features:

  • Minimum Opening Deposit: $100

  • Monthly Fee: $3, but waived if daily balance stays above $250 or if it’s a minor’s UTMA/UGMA account.

  • Access: Includes an ATM/debit card, MoneyPass network use, and free online banking.

  • Interest: Paid monthly; even minimal balances (above $0.01) may earn interest.

At a Glance — Quick Comparison

Account Type Minimum to Open APY / Interest Features Fees Access & Convenience
High-Yield Savings Premier $500 ~4.30% APY, compounding daily None Online-only; ACH transfers to linked account only
Personal Savings Account $100 Standard savings interest $3/month (waivable) ATM/debit card, online banking, money access

Who Might Benefit the Most?

  • High-Yield Savings (Premier): Best for savers prioritizing maximum growth with competitive APYs and willing to manage their account online.

  • Personal Savings Account: Suitable for everyday savers, families, or minors—especially when you value access to debit cards and lower entry requirements.