The Best High-Yield Savings Account of August 2026, Hands Down
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Last month, my savings account paid me $68.62 in interest. That's more than my old Chase savings account paid me in over 10 years! Not kidding. I keep about $20,000 in an emergency fund, so I want every dollar of it earning the highest APY I can find.
Right now, the account I use is Happen Bank LevelUp Savings, and it's my pick for the best high-yield savings account of August 2026. It pays 4.00% APY, roughly 10X the average savings account rate of 0.38%.
There's one small catch to earn that top rate. You need to deposit at least $250 a month (any transfer works, doesn't have to be a paycheck deposit). And even if you miss a month, you still earn 3.00% APY.
What 4.00% APY looks like in Happen Bank LevelUp Savings
Interest adds up fast at 4.00% APY, and it scales right along with your balance.
Here's what Happen Bank LevelUp Savings pays over a year at that rate, if you leave the money untouched:
| Balance | Interest Earned in a Year |
|---|---|
| $1,000 | $40 |
| $5,000 | $200 |
| $10,000 | $400 |
| $25,000 | $1,000 |
A typical savings account at the 0.38% national average would turn that same $25,000 into about $95 for the year.
The Happen Bank LevelUp Savings account earned our award for the Best High-Yield Savings Account for 2026. And the high rate is only part of the story.
On Happen Bank's Secure Website.
Member FDIC.
2026 Award Winner
Happen Bank LevelUp Savings
On Happen Bank's Secure Website.
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- Competitive APY
- No fees
- Easy ATM access
- Unlimited number of external transfers (up to daily transaction limits)
- Requires you to make monthly deposits to earn the best APY
- ACH outbound transfers limited to $10,000 per day for some accounts
- No branch access; online only
The Happen Bank LevelUp Savings account has a lot to offer. At the top of the list is its high APY, though you must deposit monthly to earn the best rate. Next is zero account fees, a strong and straightforward perk. Finally, you get a free ATM card, which you can use to withdraw from thousands of ATMs nationwide. Interested? You can open an account with $0.
You only need $250 a month to unlock the top rate
To earn the 4.00% APY, you deposit at least $250 into the account each month. That's the only real hoop, and it's an easy one for most savers.
You don't need a big balance to start either. There are no monthly fees and no minimum balance required. So you can open with nothing, add $250 a month, and you're earning the top rate from day one.
If you skip a month, the APY lowers to 3.00%. But even still, that fallback rate beats almost any big-bank savings account.
I set up an auto-transfer on the first of every month for $250 from my checking account to savings. This triggers the top APY, and I never miss a month.
A free ATM card gets you to your cash fast
Happen Bank also gives you a free ATM card with the savings account, which is rare. Most online savings accounts make you wait a few business days for a money transfer. This one lets you grab cash the moment you need it.
Happen Bank never charges its own ATM fee. Use a SUM or MoneyPass ATM and you pay nothing at all, because the machine's owner doesn't charge you either. Step outside that network and Happen Bank still adds no fee, though the ATM's owner might.
For an emergency fund, it's handy to have access to cash in a pinch.
A solid alternative with no monthly deposit to worry about
If tracking a monthly deposit sounds like one more chore, the American Express® High Yield Savings Account is the alternative I'd recommend looking at.
It pays a 3.00%¹ annual percentae yield (APY) (as of ) with no minimum deposit², no minimum balance², and no monthly requirement to earn the rate². There's also no ATM card, so you move money by bank transfer that takes a day or two⁴.
But for a set-it-and-forget-it emergency fund, it's a great account. Read our American Express® High Yield Savings Account review to learn more.
On Happen Bank's Secure Website.
Member FDIC.
American Express® High Yield Savings Account
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- No monthly account fee²
- Comfort of a well-known brand and reputation
- Unlimited number of external transfers (up to daily transaction limits)⁴
- 24/7 customer support
- FDIC insured
- No ATM access
- No branch access; online only
- No cash deposits
American Express High Yield Savings may not have the highest APY on our list, but it still offers a rate that is above the national average and requires no minimum deposit to open for the APY they offer². It's a good fit for those who want to save at a competitive rate while avoiding withdrawal limits or minimum balance requirements.
¹The Annual Percentage Yield (APY) as advertised is accurate as of . Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.
²There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
³iOS and Android only. See app store listings for operating system info.
⁴For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
Either way, the move that matters is getting your cash off a near-zero rate. Mine went from pennies to $800 a year doing exactly that.
Our Research Expert
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.
Motley Fool Stock Disclosures
American Express is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Joel O'Leary has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends American Express and JPMorgan Chase. The Motley Fool has a disclosure policy.