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Limited Time Offer to Move Your Savings & Earn $250
By: Conor Keenan | Last updated: June 22, 2026
Conor Keenan, AWMA®, is the Co-Founder of CompareAccounts. An Accredited Wealth Management Advisor® professional with over a decade of experience covering consumer banking and investing trends, his work has appeared in The Wall Street Journal, Reuters, Yahoo Finance, and more.
Editorial Independence: Our opinions, reviews, and recommendations are our own. Partner commissions keep our site free, but our content remains independent.
Best For: High APY Interest Rates
Western Alliance Bank was founded in 1994, has over $80 billion in assets and is consistently ranked among the top banks.
They were ranked #1 Top-Performing Large Bank with Assets $50 billion and Above in 2021, 2022, & 2023 by American Banker. They were ranked again by American Banker and Bank Director as a top U.S. bank in 2022, 2023 and 2024.
Western Alliance Bank offers 3.80% 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.
U.S. based customer service is available from 8 a.m. to 8 p.m. ET Monday - Friday. You'll have online access to your funds 24/7.
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 3.80% 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
3.80%
- High Yield Savings Account
- Min. initial deposit: $1
- 3.80% APY
- FDIC Insured up to $250,000
- No Monthly Fees
- Interest Compounded Daily
- Exclusive Offer Powered by The Raisin Platform
- U.S.-based Customer Service Available from 8 a.m. to 8 p.m. ET Monday – Friday
- Ranked #1 Top-Performing Large Bank with Assets $50 Billion and Above in 2021, 2022, 2023, & 2024 by American Banker
- See Site for Details
On Western Alliance Bank's
Secure Site Powered by Raisin,
Member FDIC
Open Your New Account with Western Alliance Bank Now
Customers Also Viewed These High-Yield Savings Accounts with Bonuses
Up to $400 Bonus
Annual Percentage Yield (APY)
3.80% APY
with qualifying activities
On SoFi®'s Secure Site,
Member FDIC
Best For: Bonus Seekers + Large Deposits
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $400 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy up to 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 or $5,000+ in qualifying deposits during the 31-day evaluation period is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit or depositing $5,000+, you should look at the other offers on this list.
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. Earn a $50 or $400 bonus with direct deposit, terms apply.
Limited Time Offer: New account holders earn +0.70% boost to 3.80% on their Savings APY for up to 6 months with eligible direct deposit. Terms apply.
1. Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct
Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible
Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have
satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct
Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with
Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
SoFi® Checking and Savings: 3.80% APY & Earn up to $400 with qualifying activities
Discover® Bank Online Savings Account: 3.40% 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