Betterment vs. Openbank
Comparing Betterment and Openbank for high-yield savings: Betterment's Cash Reserve pays 4.00% APY while Openbank's High-Yield Savings Account pays 3.80% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Betterment pays $20 more than Openbank annually ($400 vs $380).
Choose Betterment if getting the best rate matters most, or you're an Android user.
| Metric | BettermentCash Reserve Aug 6, 2026 | OpenbankHigh-Yield Savings Account Aug 6, 2026 |
|---|---|---|
| APY | 3.25% - 4.00% | 3.80% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$190 $10,000+$380 $25,000+$950 |
Min Deposit | $10 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Betterment vs. Openbank
Executive Summary
Betterment's Cash Reserve leads with a higher APY of 4.00%, available to new customers, while existing customers earn a lower rate of 3.25%. This online-only product requires a minimum deposit of just $10 and has no maintenance fees. In comparison, Openbank offers a High-Yield Savings Account with an APY of 3.80%, requiring a minimum deposit of $500, and also has no maintenance fees. Both accounts do not require direct deposit, making them accessible options for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Betterment?
- ✓Higher potential APY (4.00% vs 3.80%) on all balances
- ✓Higher rated Android app (4.7 vs 3.2)
Why Openbank?
- ✓No checking account or direct deposit required
- ✓Available to New & Existing Customers
— Key Feature Differences —
Better Returns at $10,000
BettermentBetterment's Cash Reserve earns more on smaller deposits (approx. $400 vs $380/yr).
Better Returns at $25,000
BettermentBetterment's Cash Reserve pulls ahead with larger amounts (approx. $1000 vs $950/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 3.80% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
BettermentBetterment offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.7 (vs. 3.2)
Shared Benefits
Over a 1-year period, Betterment's Cash Reserve pays $20 more interest on a $10,000 balance than Openbank's High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Betterment vs. Openbank Savings Calculator
You earn $20 more with Betterment than Openbank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$380.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,380.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $379 per year in interest.
Both Betterment and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Betterment | Openbank |
|---|---|---|
| APY | 4.00% Range: 3.25% - 4.00% Verified: 8/6/2026 - | 3.80% Verified: 8/6/2026 ↘︎ 0.20%90d Change |
| Product Name | Cash Reserve | High-Yield Savings Account |
| Minimum Deposit | $10 | $500 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | N/A | Monthly |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | Yes | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | Not Rated |
| Important Notes | Promo rate for new customers. 3.25% APY applies to existing customers. | - |
| Next Steps | Visit SiteVerify at Betterment Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment | Openbank |
|---|---|---|
| Cash Reserve | High-Yield Savings Account | |
Current APY | 4.00% | 3.80% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.2 | -2.6 |
Days Since Change | 4 | 4 |
12-Month High | 4.00% | 4.20% |
12-Month Low | 3.25% | 3.80% |
Adjustments / Mo | 0.41 | 0.25 |
Volatility Score | 0.081 | 0.021 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Betterment's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Betterment vs Ally Bank | 3.00% | $0 |
| Betterment vs American Express | 3.00% | $0 |
| Betterment vs Axos Bank | 4.21% | $0 |
| Betterment vs Barclays | 3.65% | $0 |
| Betterment vs Capital One | 3.00% | $0 |
| Betterment vs Chime | 3.75% | $0 |
| Betterment vs CIT Bank | 3.75% | $100 |
| Betterment vs Discover Bank | 3.30% | $0 |
| Betterment vs EverBank | 3.90% | $0 |
| Betterment vs Marcus by Goldman Sachs | 3.40% | $0 |
| Betterment vs Newtek Bank | 4.20% | $0.01 |
| Betterment vs Pibank | 4.10% | $0 |
| Betterment vs SoFi Bank | 3.80% | $0 |
| Betterment vs Synchrony Bank | 3.30% | $0 |
| Betterment vs Varo Bank | 3.75% | $0 |
| Betterment vs Wealthfront | 4.20% | $0 |