Happen Bank Review

Happen Bank Happen Bank LevelUp High-Yield Savings

4.00% APY

Happen Bank, formerly known as LendingClub Bank and Radius Bank, offers competitive, high-earning interest rates across the board.

Its savings account and even one checking account carry rates well over the national average, enabling you to grow your savings pretty substantially. 

Happen Bank does not maintain any physical locations or branches. It has a few branded ATMs and provides access to the MoneyPass® and SUM ATM networks.

Otherwise, you’re limited to managing your accounts online and on mobile. 

Products Offered

Happen Bank Interest Rate Comparison

Happen Bank Overview

Happen Bank (formerly LendingClub Bank) began in 1987 as Radius Bank. Their Happen Bank, N.A. office is located in San Francisco, California, with the office for Happen Bank, National Association, located in Lehi, Utah. (Happen Bank, N.A. is the parent company of Happen Bank, National Association.)

Happen Bank operates primarily as a virtual bank. The bank provides its own app so you can access your accounts on the go. You can also open both personal and business accounts with Happen Bank, with its personal account offerings detailed below. 

While the company previously offered small business bank accounts, as of January 24, 2025, Happen Bank is no longer taking new applications. 

Happen Bank Account Features

When you bank with Happen Bank, you won’t have access to a full-service branch. But, Happen Bank checking accounts include a debit card,and the Happen Bank High-Yield Savings account includes an ATM card. You can use these cards fee-free at Happen Bank ATMs, as well as MoneyPass® and SUM ATMs. 

You can still use out-of-network ATMs without facing a fee from Happen Bank, although the ATM may charge its own fee. (Details regarding ATM surcharge rebates can be found on the company’s website.)

The bank also offers numerous online and mobile banking features, including the ability to deposit checks with the camera on your mobile phone. The Happen Bank Card app also allows you to turn your debit card on and off with just the swipe of a finger. You can customize account alerts, transaction restrictions, spending caps and more.

Happen Bank LevelUp High-Yield Savings Account

The Happen Bank LevelUp High-Yield Savings account offers some of the highest online savings interest rates in the industry and at no extra monthly fee. According to HappenBank’s website, the “LevelUp Rate is applied to the full balance of LevelUp Savings accounts that receive a total of at least $250 in deposits during the Evaluation Period. Otherwise, accounts will earn the Standard Rate.”

This savings account also includes an ATM card along with easy online and mobile access. With your online account, you can make free internal and external online transfers between accounts.

Happen Bank CDs (Certificates of Deposit)

Certificates of Deposit, or CDs, offer a more structured way of saving and a more guaranteed return. Once you open and fund a CD, you cannot withdraw any of that amount without incurring a penalty, nor can you make additional deposits until the end of the term. At the CD’s maturity date, you can withdraw or deposit funds or make term changes to the account. 

Happen Bank LevelUp Checking Account

The Happen Bank LevelUp Checking account works best for customers with higher balances. There’s no minimum to open an account, and no fees, but you’ll need at least $2,500 to earn 1.00% APY. You can also earn a 4.00% APY when you deposit at least $250 a month. Plus, when you use your debit card for purchases, you'll earn 1.00% cash back (if you have direct deposit set up and receive at least one direct deposit into your account each month).

Where Can I Find Happen Bank?

You can find Happen Bank online and through its mobile app. 

What Can You Do Online With Happen Bank?

You can do just about all you need with Happen Bank. You can open and fund accounts online, make transfers, check on your balances and more. 

You can also perform many of these actions and transactions on mobile, whether in your mobile browser or on the Happen Bank app. 

How Do I Access My Money?

To access cash, you can use any MoneyPass® and SUM ATMs for free, as well as any out-of-network ATMs without facing a fee from Happen Bank. 

Otherwise, you can access your accounts easily and conveniently online and on mobile.

How Can I Save More Money With a Happen Bank Account?

While Happen Bank has incredibly high rates, you can save the most money with high account balances. Each account has some balance requirement to earn interest at all. However, the best rates are reserved for the highest balances. 

You’ll also be able to save money by sticking to in-network ATMs. This includes Happen Bank, MoneyPass® and SUM ATMs throughout the country. That way, you can avoid any ATM surcharges.  

What’s the Process for Opening an Account With Happen Bank?

You can easily open most Happen Bank accounts online simply by clicking an “Apply Now” button. You’ll need to provide personal information like your email address and Social Security number. You will also have to make your initial minimum deposit at opening. The whole application process should take 10 or fewer minutes. 

What’s the Catch? 

Perhaps the biggest catch for potential customers is the lack of physical branches. You’ll have to be comfortable banking almost entirely online to work with Happen Bank. You’ll still have access to cash through its ATM networks, but customers won’t be able to visit a local branch. 

Another catch to Happen Bank is the high balances required for the best rates. To earn substantial savings, you’ll need balances of at least $2,500 for the bank’s checking account. 

Bottom Line

Happen Bank certainly has some compelling products with its sky-high interest rates. Just be careful of each account’s minimum balance requirements to open and to earn interest as these minimums can reach pretty high. However, you won’t have to worry about a monthly fee with any Happen Bank accounts.