Betterment vs. Openbank
Comparing Betterment and Openbank for high-yield savings: Betterment's Cash Reserve pays 3.90% APY while Openbank's High-Yield Savings Account pays 4.09% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Openbank pays $19 more than Betterment annually ($409 vs $390).
Choose Betterment if mobile app quality matters, or choose Openbank if getting the best rate matters most.
| Metric | BettermentCash Reserve Mar 24, 2026 | OpenbankHigh-Yield Savings Account Mar 24, 2026 |
|---|---|---|
| APY | 3.25% - 3.90% | 4.09% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $5,000+$205 $10,000+$409 $25,000+$1,023 |
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 MinimumsRate 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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.09%, making it the winner in this comparison. This account requires a minimum deposit of $500 and has no maintenance fees, providing straightforward access to higher returns without the need for direct deposits. In contrast, Betterment's Cash Reserve offers a promotional APY of 3.90% for new customers, with a lower rate of 3.25% for existing customers. While Betterment has a lower yield, it is notable for its highly rated mobile app experience. Both accounts are online-only and FDIC insured.
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 rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.5)
Why Openbank?
- ✓Higher potential APY (4.09% vs 3.90%) on all balances
- ✓No checking account or direct deposit required
- ✓Available to New & Existing Customers
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $409 vs $390/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1023 vs $975/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.09% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
BettermentBetterment offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.7 (vs. 2.5)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $19 more interest on a $10,000 balance than Betterment's Cash Reserve.
*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 $19 more with Openbank than Betterment 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+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$409.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,409.00
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 $389 per year in interest.
Both Betterment and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Betterment | Openbank |
|---|---|---|
| APY | 3.90% Range: 3.25% - 3.90% Verified: 3/24/2026 ↗︎ 0.65%90d Change | 4.09% Verified: 3/24/2026 ↘︎ 0.11%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 | 3.90% | 4.09% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.8 | -2.4 |
Days Since Change | 32 | 47 |
12-Month High | 4.00% | 4.40% |
12-Month Low | 3.25% | 4.09% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.083 | 0.022 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Betterment's APY of 3.90% with other banks
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|---|---|---|
| Betterment vs Ally Bank | 3.20% | $0 |
| Betterment vs American Express | 3.20% | $0 |
| Betterment vs Axos Bank | 4.21% | $0 |
| Betterment vs Barclays | 3.85% | $0 |
| Betterment vs Capital One | 3.20% | $0 |
| Betterment vs Chime | 3.00% | $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 | 3.65% | $0 |
| Betterment vs Newtek Bank | 4.20% | $0.01 |
| Betterment vs Pibank | 4.60% | $0 |
| Betterment vs SoFi Bank | 4.00% | $0 |
| Betterment vs Synchrony Bank | 3.50% | $0 |
| Betterment vs Varo Bank | 5.00% | $0 |
| Betterment vs Wealthfront | 4.20% | $0 |