Limited Time Offer to Move Your Savings & Earn $250
By: Conor Keenan Last updated April 18, 2025
Conor Keenan, co-founder of CompareAccounts, is a notable personal finance expert with work seen in Wall Street Journal, CNN, Fox News, MSN & Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.
Best For: High APY Interest Rates
Western Alliance Bank offers 4.25% APY exclusively through the Raisin Platform.
This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.
In addition to this high APY, Western Alliance offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.
Customer service is located in New York, NY and is available via email and phone. You'll have online access to your funds 24/7.
Western Alliance Bank is consistenly ranked among the top banks. The bank has over $80 Billion in Assets and were ranked #1 top-performing large bank with assets greater than $50 billion in 2021, 2022, 2023 & 2024 by American Banker. Serving clients across the country wherever business happens.
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, or $500 bonus for $50K deposited or more. Use promo code BOOST at sign-up.
See Raisin's Secure Site for Western Alliance Bank For More Details.
Main Benefits You Get with Western Alliance Bank High Yield Savings Account
Competitive APY:
Western Alliance Bank offers a competitive 4.25% APY exclusively through the Raisin Platform on their high yield savings account.
No monthly maintenance fee:
In addition to this high APY & low minimum balance requirement, Western Alliance Bank offers $0 monthly maintenance fees & unlimited withdrawals.
Customer service:
Western Alliance Bank has partnered with Raisin to bring it’s first-class savings account to more Americans. Raisin has a supportive, accessible, and responsive customer service team based in New York, NY. Many banks outsource their customer service overseas.
FDIC insured:
Western Alliance Bank is federally insured by the FDIC. This covers you for as much as $250,000 per depositor in the unlikely event of a bank failure.
These features plus the sky high APY make this account a rare offer.
APY
4.25%
- High Yield Savings Account
- Min. initial deposit: $1
- 4.25% APY
- FDIC Insured up to $250,000
- No Monthly Fees
- Interest Compounded Daily
- Ranked #1 Top-Performing Bank with Assets Greater Than $50 Billion in 2021, 2022, 2023 & 2024 by American Banker
- Founded in 2003, Western Alliance Bank has over $80 Billion in Assets
- Exclusive Offer Powered by The Raisin Platform
- Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, or $500 bonus for $50K deposited or more. Use promo code BOOST at sign-up.
- See Site for Details
On Raisin's Secure Site for Western Alliance Bank,
Member FDIC
Open Your New Account with Western Alliance Bank Now
Western Alliance Bank® High Yield Savings Account: 4.25% APY - Earn $250 with Promo Code: GET250
Customers Also Viewed These High-Yield Savings Accounts with Bonuses
Up to $300 Bonus
Annual Percentage Yield (APY)
3.80% APY
with qualifying activities
On SoFi's Secure Site,
Member FDIC
Best For: Bonus + Large Deposits
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $300 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy 3.80% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms apply.
The current savings APY without direct deposit is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit, you should look at the other offers on this list unless you want more FDIC insurance.
Your deposits are FDIC-insured up to $250,000 per depositor and you can also access up to $3,000,000 of additional FDIC insurance through a network of participating banks. Ensuring your money stays safe and secure.
Best For: Welcome Bonus With Qualifying Deposits
Discover Bank offers 3.70% APY with no monthly fees and $0 initial deposit.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Whereas other banks may charge you a fee for certain services, Discover won't charge you a fee on any of the following items: monthly maintenance, official bank check, expedited delivery for official bank checks, deposited item returned, stop payment order, insufficient funds, or for closing your account.
For a limited time, Discover Bank is also offering a bonus for qualifying deposits on your first Discover Online Savings Account.
You can earn a $150 bonus when you deposit at least $15,000 or a $200 bonus when you deposit at least $25,000 within 45 days of account open date. Terms apply.ⓘ
Bonus Promo Code: CA325
You must open your account by 9/11/2025 to be eligible for the bonus.
This account is insured by the FDIC for up to $250,000 per depositor and Discover also boasts 100% U.S.-based Customer Service Available 24/7.
If you're looking for a competitive APY with "No. Fees. Period." and a nice welcome bonus, then this account is for you.
See Discover Bank's Secure Site For More Details.
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
Western Alliance Bank® High Yield Savings Account: 4.25% APY - Earn $250 with Promo Code: GET250
SoFi® Checking and Savings: 3.80% APY & Earn up to $300 with qualifying activities
Discover® Bank Online Savings Account: 3.70% APY - Earn up to $200 with Promo Code: CA325
Western Alliance Bank High Yield Savings Account, Powered by Raisin
Western Alliance Bank uses the secure Raisin platform to offer savings products like their high yield savings account to savers nationwide. Historically a regional bank, this partnerships allows Western Alliance Bank the ability to offer its high APY to more savvy savers.
Customers open accounts at Raisin.com, and the platform manages all aspects of the products offered by Western Alliance, including a customer’s deposits and withdrawals, statements and any customer service needs.
In simple terms, Raisin provides you exclusive access to a special selection of Western Alliance Bank products. Best of all, Raisin is completely free!
Security: Funds deposited into any of the products accessible through Raisin are held by federally insured institutions. They use a host of cybersecurity & bank level protection measures to protect your funds and sensitive information.
Choice: Savings products from the Raisin network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.
Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.
Service: A supportive, accessible, and responsive customer service team based in New York, NY, sets Raisin apart.
Access: Enjoy 24/7 online access to your account and funds.
Open Your New Account with Western Alliance Bank Now
Western Alliance Bank® High Yield Savings Account: 4.25% APY - Earn $250 with Promo Code: GET250