How Comparison Sites Really Work: The Affiliate Commission Problem

How Comparison Sites Make Money

When you click a link on NerdWallet, Bankrate, or Forbes Advisor and open a new account, the site earns a commission from the bank. These commissions are significant:

• Savings accounts: $50-300 per new funded account
• Credit cards: $50-200 per approval
• Mortgages: $100-500 per closed loan
• Insurance: $25-100 per policy

This isn't inherently problematic—affiliate marketing is a legitimate business model. The problem is when commission rates influence editorial rankings without disclosure.

The Ranking Problem

Consider two hypothetical savings accounts:

Bank A is objectively better for consumers—higher rate, same FDIC insurance. But a comparison site that features Bank A earns $0, while featuring Bank B earns $250 per signup.

Which bank do you think appears higher in their "Best Savings Accounts" list?

Patterns We've Observed

1. Partner-Only Lists

Some sites only feature banks with affiliate programs. Higher-rate banks without programs are simply excluded—even when they're objectively better products.

Check any major comparison site's savings account list. You'll notice certain high-rate banks (Pibank, Newtek, Bask) are often missing, while lower-rate banks with affiliate programs appear prominently.

2. Suspiciously Consistent Rankings

Have you noticed the same banks appearing as "#1 Best Overall" across multiple sites? It's not because they're objectively best—it's because they have the most aggressive affiliate programs.

3. Buried Disclosures

FTC rules require affiliate disclosures, but sites bury them. Look for tiny text like "Advertiser Disclosure" or "How We Make Money" hidden at the bottom or in collapsed sections.

4. Rate Cherry-Picking

Some sites display promotional rates that require conditions (direct deposit, minimum balance) while hiding the base rate you'll likely actually earn.

Real Examples (Without Naming Names)

We analyzed the top 5 Google results for "best high yield savings account" and found:

• 4 of 5 sites excluded at least one bank offering rates higher than their #1 pick
• 3 of 5 sites ranked banks with tiered rates (4%+ advertised, 0.25% base) without prominent warnings
• All 5 sites featured the same 3 banks in their top 5, despite different "methodology"
• 5 of 5 sites failed to mention that their #1 pick's rate requires direct deposit

Coincidence? Or coordinated affiliate relationships?

The "Editorial Independence" Claim

Major sites claim editorial independence from their business teams. Here's the standard defense:

"Our editorial team operates independently from our advertising team. Commissions do not influence our rankings."

Maybe. But consider:

• Both teams work for the same company with the same revenue goals
• A site that never recommends high-commission products won't stay in business
• "Independence" doesn't mean affiliate relationships are disclosed at the point of recommendation
• Banks without programs literally can't be featured because there's no tracking mechanism

The Bankrate-LendingTree Connection

Did you know Bankrate, NerdWallet's main competitor, is owned by Red Ventures, which also owns CNET and CreditCards.com? The same company controls multiple "independent" comparison sites.

Forbes Advisor, despite the Forbes brand, is licensed to an independent company that operates it as an affiliate marketing business.

The sites you think are competing for your trust are often controlled by the same handful of companies, all optimizing for affiliate revenue.

How to Read Comparison Sites Critically

1. Check Multiple Sources

If the same bank is #1 everywhere, ask why. If a bank you've never heard of consistently appears, ask whether it's paying for placement.

2. Look for Missing Banks

Search "high yield savings accounts" independently. Compare what you find to what comparison sites show. Notice any gaps?

3. Verify Rates Directly

Always check the actual bank's website. Comparison sites sometimes display outdated rates or fail to clarify conditions.

4. Read the Fine Print

Find and read the site's advertiser disclosure. Look for phrases like "we receive compensation from partners featured on this site."

5. Be Skeptical of Subjective Criteria

When a lower-rate bank ranks #1 due to "best overall experience" or "customer satisfaction," ask how that was measured—and whether it conveniently justifies featuring an affiliate partner.

How SideBySide Savings Is Different

We won't claim to be completely unbiased—we're not. We earn affiliate commissions from some (not all) banks we feature. But here's how we try to be more transparent:

• We feature banks without affiliate programs when they offer better rates (like Pibank)
• We clearly mark affiliate relationships in our reviews
• We prioritize rate over commission—our top picks often have lower or no payouts
• We expose tiered rate traps even for banks we could earn from
• We explain direct deposit requirements upfront, not in footnotes

We're not perfect. But we believe transparency about the affiliate model helps you make better decisions.

The Bottom Line

Comparison sites aren't evil—they provide a genuine service by aggregating product information. But they're businesses with financial incentives that may not align with your best interests.

Use them as a starting point, not a final answer. Verify rates directly. Question why certain banks appear while others don't. And always remember: when a service is free, you're not the customer—you're the product being sold to advertisers.

The best savings account isn't necessarily the one that comparison sites recommend. It's the one that actually pays you the most, with the fewest catches, for your specific situation.