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Believe Bank's High-Yield Savings Account stands out by combining competitive interest rates with a philanthropic twist. Account holders earn a 4.20% APY on their savings, while the bank donates an additional 0.40% APY to a 501(c)(3) charity chosen by the customer. This approach allows savers to grow their funds and contribute to meaningful causes simultaneously.
The account requires a minimum opening deposit of $100 and does not impose monthly maintenance fees, making it accessible for many savers. Interest is compounded and credited monthly, and the account is FDIC insured up to $250,000, ensuring the safety of deposits.
This savings account is ideal for individuals who:
| Feature | Details |
| APY | 4.20% or account holder; 0.40% donated to charity |
| Minimum Deposit | $100 |
| Monthly Fees | None |
| Interest Compounding | Monthly |
| Charity Donation Frequency | Quarterly |
| FDIC Insured | Yes, up to $250,000 through Regent Bank |
Believe Bank currently offers a singular High-Yield Savings Account with the following terms:
If the quarterly donation is less than $10, Believe Bank may allocate the amount to a preselected eligible nonprofit. The APY is variable and may change at the bank's discretion.
The entire process is conducted online, offering convenience and ease of access.
As of now, there is no dedicated mobile application for Believe Bank. However, the bank's website is mobile-responsive, allowing customers to manage their accounts via smartphones and tablets.
Believe Bank is a division of Regent Bank, which is a member of the Federal Deposit Insurance Corporation (FDIC). This means deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category. Additionally, the bank employs standard security measures to protect customer information and transactions.
For assistance, visit the FAQs page or use the contact form on the Get Help page.
Believe Bank operates as an online division of Regent Bank. For correspondence, customers can refer to Regent Bank's headquarters:
Regent Bank
Address: 7136 S Yale Ave, Suite 900, Tulsa, OK 74136
Phone: (918) 488-8550
The current APY is 4.20% for the account holder, with an additional 0.40% APY donated to a charity of your choice.
No, Believe Bank does not charge monthly maintenance fees for its High-Yield Savings Account.
Yes, you can update your chosen 501(c)(3) nonprofit organization by contacting Believe Bank through their online support channels.
Believe Bank's High-Yield Savings Account offers a compelling combination of competitive interest rates and a unique charitable giving feature. With no monthly fees and a straightforward online setup, it's an attractive option for savers who wish to grow their funds while contributing to causes they care about. However, potential customers should be aware of the minimum deposit requirement and the policy regarding donations under $10.
This review was compiled using information from Believe Bank's official website, including their FAQs, About Us, and Our Pledge pages. Additional insights were gathered from reputable financial news sources and comparison sites.
Disclaimers
AI was used in the creation of this content, along with human validation and proofreading.
