Happen Bank vs. Openbank
Happen Bank's LevelUp Savings 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? Happen Bank pays $20 more than Openbank annually ($400 vs $380).
Choose Happen Bank if getting the best rate matters most.
| Metric | Happen BankLevelUp Savings Sep 5, 2026 | OpenbankHigh-Yield Savings Account Sep 5, 2026 |
|---|---|---|
| APY | 4.00% | 3.80% |
Earns in a year | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$190 $10,000+$380 $25,000+$950 |
Min. Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | The advertised "LevelUp Rate" APY is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" applies. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingStable Rate | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppStable Rate |
Prefer In-Person Banking?
Both of these institutions are online-only. If you need in-branch access, check out our list of savings accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Happen Bank vs. Openbank
Executive Summary
Happen Bank offers a competitive LevelUp Savings account with an APY of 4.00%, which is higher than Openbank's High-Yield Savings Account at 3.80%. Happen Bank's account does not require a direct deposit and is accessible with a minimum deposit of $0, making it a flexible option for savers. In contrast, Openbank requires a minimum deposit of $50,000 to access its rate. Both accounts are online-only and have no maintenance fees. For those looking for a straightforward savings option, Happen Bank's LevelUp Savings stands out with its higher yield and lack of additional requirements.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Happen Bank?
- Higher potential APY (4.00% vs 3.80%) on all balances
Why Openbank?
No distinct advantages found vs Happen Bank.
Key Feature Differences
Better Returns at $10,000
Happen BankHappen Bank's LevelUp Savings earns more on smaller deposits (approx. $400 vs $380/yr).
Better Returns at $25,000
Happen BankHappen Bank's LevelUp Savings pulls ahead with larger amounts (approx. $1000 vs $950/yr).
Better for Simplicity
Happen BankHappen Bank's LevelUp Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Better Mobile App Experience
Happen BankHappen Bank offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.6 (vs. 4.4)
Shared Benefits
Over a 1-year period, Happen Bank's LevelUp Savings 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
Happen Bank vs. Openbank Savings Calculator
You earn $20 more with Happen Bank 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.
Happen Bank
LevelUp Savings
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 at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $375 a year in interest.
Both Happen Bank and Openbank advertise far more than that typical branch-bank rate.
| Feature | Happen Bank | Openbank |
|---|---|---|
| APY | 4.00% Observed: 9/5/2026 Stable over 90 days | 3.80% Observed: 9/5/2026 Stable over 90 days |
| Product Name | LevelUp Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Monthly |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 3 (CA, MA, UT) | Not reported |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| Important Notes | The advertised "LevelUp Rate" APY is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" applies. | - |
| Next Steps | Visit SiteVerify at Happen Bank Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Happen Bank | Openbank |
|---|---|---|
| LevelUp Savings | High-Yield Savings Account | |
Current APY | 4.00% | 3.80% |
Trend | Stable | Stable |
Speed of change | -0.04 | -0.02 |
Days Since Change | 267 | 94 |
12-Month High | 4.20% | 4.20% |
12-Month Low | 4.00% | 3.80% |
Changes per month | 0.08 | 0.25 |
Steadiness | 0.023 | 0.013 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 362-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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High Rates (With Checking Bundle)
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More Comparisons
Compare Happen Bank's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Happen Bank vs Ally Bank | 3.00% | $0 |
| Happen Bank vs American Express | 3.00% | $0 |
| Happen Bank vs Axos Bank | 4.21% | $0 |
| Happen Bank vs Barclays | 3.65% | $0 |
| Happen Bank vs Capital One | 3.50% | $0 |
| Happen Bank vs Chime | 3.75% | $0 |
| Happen Bank vs CIT Bank | 3.75% | $100 |
| Happen Bank vs EverBank | 3.90% | $0 |
| Happen Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Happen Bank vs Newtek Bank | 4.20% | $100 |
| Happen Bank vs Pibank | 4.10% | $0 |
| Happen Bank vs SoFi Bank | 4.00% | $0 |
| Happen Bank vs Synchrony Bank | 3.30% | $0 |
| Happen Bank vs Varo Bank | 3.75% | $0 |
| Happen Bank vs Wealthfront | 3.95% | $0 |