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Western Alliance Bank’s High-Yield Savings Premier account offers 3.80%¹ APY on all deposits. That’s more than 9 times the national average savings account interest rate in December 15, 2025².
On top of that, the savings account has no fees. You’ll need a minimum deposit of $500 to open an account, but a minimum balance of $0.01 is required to earn the advertised APY.
Western Alliance Bank’s High-Yield Savings Premier account is designed to hold your funds while they earn high-yield interest. It’s not a cutting-edge bank account with tons of features.
You can make online transfers in and out of the account from a single external bank account, but you cannot connect multiple accounts or make cash or wire deposits. In addition, there’s no support for online bill pay and no way to categorize transactions in your account.
Western Alliance Bank has a limited range of personal banking services. The High-Yield Savings Premier account does not include a debit card or checks. You can open personal checking accounts, personal loans, and credit cards with Western Alliance Bank at one of its regional division branches.
Western Alliance Bank has more services for small businesses, including business checking and savings accounts, business certificates of deposit (CDs), and business money market accounts. The bank offers business loans, equipment financing, and business credit cards. Western Alliance Bank also supports credit card processing for business payments.
The High-Yield Savings Premier account offers 3.80% APY on unlimited deposits without account activity or maintenance fees. You can open an account with a minimum deposit of $500. After that, you must maintain a minimum balance of $0.01 to earn the advertised APY. Interest accrues daily and is paid to you monthly.
| Account Activity/ Maintenance Fees | Interest Rate | Minimum Opening Deposit |
|---|---|---|
| None | 3.80% APY | $500 |
Western Alliance Bank offers customer support by phone for the High-Yield Savings Premier account. Customer support is available 6am to 6pm PDT, Monday through Friday.
You can open a new account online in less than five minutes. You’ll need to provide your email, address, phone number, and Social Security number. You’ll also need to connect an external bank account to make the minimum $500 initial deposit. Overall, the process is fast and easy.
Western Alliance Bank’s website doesn’t have a detailed online knowledge base. However, there are helpful FAQs explaining how the High-Yield Savings Premier account works.
Western Alliance Bank is the primary subsidiary of Western Alliance Bancorporation, a publicly traded bank with more than $85 billion in assets. American Banker and Bank Director rated it as a top U.S. bank in 2022 and 2023.
Western Alliance Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The High-Yield Savings Premier account is FDIC-insured for up to $250,000 per single deposit account holder. This insurance means that in the unlikely event that Western Alliance Bank fails or goes out of business suddenly, you would still be able to get up to $250,000 of your money out of the bank.
In addition, Western Alliance Bank allows you to connect to only one external bank account. This condition is beneficial for security since it limits the number of potential access points to your savings account.
Western Alliance Bank also has a dedicated fraud team available by phone with extended hours, from 6 a.m. to 6 p.m. PT on Monday to Friday and from 8 a.m. to 2 p.m. PT on Saturdays.
Western Alliance Bank’s High-Yield Savings Premier account offers 3.80% APY with no account activity or maintenance fees. The account is highly secure and FDIC-insured. You can open a Western Alliance Bank account online in minutes with a $500 minimum deposit.
Overall, the High-Yield Savings Premier account is an excellent choice if you want to earn as much interest as possible on your savings and don’t need additional banking services.
This review is based on information available on the Western Alliance Bank website.
¹The annual percentage yield (APY) is accurate as of January 8, 2026 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.
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 December 15, 2025. See the FDIC website for more information.
Western Alliance Bank, Member FDIC.
Michael Graw is a personal finance expert at BestMoney.com, specializing in online banking and insurance. His work has appeared in print magazines and on high-impact websites. With a passion for clarity and practicality, Michael helps readers navigate today’s financial landscape.
