How can we help?
The current interest rates that the individual earns is 4.00% APY* and every year, Believe Bank donates 1.00%APY** of your average balance on a quarterly basis to the non profit organization of your choice.
*The Annual Percentage Yield (APY) may change at any time. The APY is accurate as of 01/07/25. A minimum deposit of $100 is required to open the account. Fees may reduce earnings.
**The donation to a Charity of your choice will be made quarterly by Believe Bank; therefore, Believe Bank will receive the tax benefit. The Charity must be a 501(c)(3) organization. If the donation amount equals less than $10.00, the bank will choose the charity to make the donation to. The charity donation APY may change at any time.
No, your account is not tied to the stock market and cannot lose money.
No, however, if your High-Yield Savings account has a zero balance for 90 consecutive days, it will be automatically closed.
Interest is calculated by using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. Interest begins to accrue on the business day your non-cash item has cleared (for example, ACH). If you close your account before interest is credited, you may not receive the accrued interest. Believe Bank reserves the right not to pay interest on any deposited item that is returned to us as unpaid.
This is a variable-rate account where interest rates and Annual Percentage Yields (APYs) may change at any time at Believe Bank’s discretion.
To see your current APY, Log In to your account, click on the “Home” tab, and locate the APY under “Available Balance,” or on your monthly statement.
Your High-Yield Savings account functions like a traditional savings account except in one important way. With this account, you can earn a competitively higher interest rate on your money. You can still transfer funds to and from your High-Yield Savings account at no cost, but your interest rate helps you grow your savings.
There are no service or monthly maintenance fees associated with the High-Yield Savings account.
Yes, the minimum deposit required in order to open a High-Yield Savings account is $100.
Any change to your linked account must be made by logging into the account portal and sending a secure message to Believe Bank. Changes to your linked account are subject to Believe Bank’s approval and, depending on the circumstances, may result in your High-Yield Savings account not being accessible for a period of time.
Please log into the account portal and send a secure message to customer service and indicate that your linked account has been closed and the reason for closure (for example, closed due to fraud, closed at your election, etc.). Believe Bank will then restrict your High-Yield Savings account and may require you to complete additional information in order to authenticate and validate the change to your linked account.
Not at this time.
No. However, you can access your account on your computer, smartphone or mobile device at https://highyieldsavings.believebank.com/login.
Click “Forgot Password?” below the login box to receive an email with instructions. You can also reach out to us at support@believebank.com.
Please email us at support@believebank.com and we will help you regain access to your account.
You may close your account by withdrawing all available funds and selecting “Close my account.” Alternatively, you may contact customer service via the secure message center within the account portal or email us at support@believebank.com.
Yes, you will receive email notifications when your monthly account statement is ready. To access statements, log into the account portal and click on “Documents.”
Yes, you will receive an IRS Form 1099-INT for your High-Yield Savings account. An email notification will be sent when the form is ready. To access your form, log into the account portal under “Documents” to easily view and download it.
You may contact customer service via the secure message center or by emailing us at support@believebank.com.
Any change to your linked account must be made by logging into the account portal and sending a secure message to Believe Bank. Changes to your linked account are subject to Believe Bank’s approval and, depending on the circumstances, may result in your High-Yield Savings account not being accessible for a period of time and/or closure.
Yes, after your High-Yield Savings account has been opened you may add a beneficiary and may change your beneficiary at any time by clicking on “My Account” and then “Add Beneficiary.” If you choose to name a beneficiary you are intending to make your account a payable on death (“POD”) account that is payable on your death to the designated beneficiary.
No, all deposits and withdrawals must be made through your externally linked account.
Not at this time.
Not at this time. The High-Yield Savings account is a single ownership account; however, you can designate a beneficiary.
Funds received by ACH transfer initiated from the designated linked account to your account will generally be available five (5) business days after you initiate the ACH transfer.
No, there are no limits on the number of deposits or withdrawals.
Transactions may take up to five (5) business days to complete.
A checking or savings account maintained at a U.S. financial institution that is either owned by you individually or jointly with another person as long as you maintain control over such account.
No, only one linked account may be used to make deposits to and receive withdrawals from your High-Yield Savings account.
Data security is Believe Bank’s top priority. We use industry-leading RSA 256-bit encryption technology.
Your funds are held with Regent Bank.
Yes. Your High-Yield Savings account deposits are insured by the FDIC up to the maximum limits allowed by law. Please visit www.fdic.gov for current deposit insurance limits.