Believe Savings Review: High-Yield Savings Account With A Twist

Believe Savings offers an online high-yield savings account with a twist. In addition to a high interest rate with no monthly fees, Believe will donate 0.10% APY* of your average balance on a quarterly basis to a 501(c)(3) charity of your choice.

Believe Savings is making it easier than ever to blend savings with philanthropy. But how does it stack up as an online savings account, and is there a catch to the charitable giving? We answer those questions and more in this full review. 

What Is Believe Savings?

Believe Savings is a division of Regent Bank, a community bank based in Oklahoma, and an FDIC member institution. While Regent Bank offers a wide range of banking products and services to personal and business customers, Believe Savings offers a single product — an online, high-yield savings account. 

What Does It Offer?

Here's a closer look at Believe's high-yield savings, along with the charitable giving component of its business. 

High-Yield Savings Account

Believe Savings offers a single product — a high-yield savings account with an attractive 3.55% APY. There are no monthly maintenance fees, no transaction limits, and no minimum account balance. However, there is a $100 minimum opening deposit, and if you have a zero balance for 90 consecutive days, Believe will close your account.

Key Features

• Current APY: 3.55%
• Deposits are FDIC-Insured 
• $100 minimum to open an account 
• No monthly fees 
• Unlimited transactions 
• Deposits and withdrawals must be made through an external, linked bank account 
• No minimum balance requirement 
• Doesn't offer a mobile app 
• Joint accounts are not offered at this time 

Charitable Giving

What sets Believe Savings apart from most online savings accounts is the philanthropic component. When you save with Believe, it will donate 0.10% APY of your "average daily balance on a quarterly basis to the non-profit organization of your choice." This donation is over and above the APY that you earn on the account, currently 3.55%. So, your giving is not cutting into your savings rate. 

While this is a great feature, there are a few of things to keep in mind:

• Believe Savings is making the donation, so they receive the tax benefit 
• The Charity must be a 501(c)(3) organization
• If the donation amount is below $10, Believe will decide which charity to donate to 
• The charity donation APY could change at any time. 

If you are comfortable with these conditions, and you like the idea of being able to give back while you manage your finances, then you'll want to give Believe Savings a closer look. 

Are There Any Fees?

Believe Savings does not charge any monthly maintenance fees. Customers receive a free monthly statement which can be accessed by logging into the customer portal. 

How Does Believe Compare?

Believe is one of many online banks offering high yields on savings accounts. But other banks offer more in the way of products and services. 

Axos Bank offers a full range of checking and savings accounts, personal loans and mortgages, and investments. It's currently offering a 4.21% APY on its Axos ONE Savings. There are no fees, no minimum initial deposit, and you can transfer money between between your Axos accounts instantly. 

Live Oak Bank is an online bank offering checking and savings accounts, loans and mortgages, and more. Its high-yield savings account currently has a lower APY than Believe, but there are no fees and no minimum deposit to open. 

How Do I Open An Account?

You can open an account with Believe Savings through its website (there is no mobile app available for download). To get started, select the green "Sign Up" button in the top right corner of the Believe homepage.

From there, you'll need to provide your email address and create a secure password. You'll also need to confirm that you are at least 18 years of age and a U.S. citizen or other U.S. person as defined in the IRS W-9 form instructions.

To complete the account opening process, you will be required to deposit at least $100 by linking to a primary banking account with a major U.S. financial institution. 

Is It Safe And Secure?

Yes, Believe Savings is a safe bank to deal with. The company uses industry-leading RSA 256-bit encryption technology, and all deposits are held with its parent company, Regent Bank. Regent is a regional bank with over $1.6 billion in assets that does business in Oklahoma and Missouri, and is an FDIC-member institution. 

How Do I Contact Believe?

You can contact Believe Savings via its secure message center, or by emailing [email protected]. I reached out to Believe customer support via email, and they responded within 30 minutes, and answered my questions. Unfortunately, there is no telephone support offered. Additionally, Believe Savings does not currently offer a mobile app. You must access your account from its website, although you can do so on a desktop, tablet, or mobile device. 

Is It Worth It?

Believe Savings gets high marks for its attractive APY and for giving customers the ability to ensure that their savings efforts are being put to good use, through charitable giving. And with the account available in all U.S. states, Believe is worth considering if you're looking for an excellent savings rate. However, it lags behind many other online banks, which have more to offer. It's a single product bank, there is no ABM access, and no mobile app. And transferring money to and from your linked bank account can take up to five business days, according to Believe. Thus, if you want more than what Believe Savings has to offer, you're better off looking at other options, such as Axos Bank or Discover. 

Check out Believe here>>

Believe Features

*APY = Annual Percentage Yield. Rate is accurate as of September 23, 2025.