When is the First Evaluation Period for a new LevelUp Savings Account?

The First Evaluation Period starts after the first two statement cycles following account opening. During this time, you need to make cumulative deposits of at least $250 to keep earning the LevelUp Rate, otherwise, the Standard Rate will apply.

For example, if you open your account in August, your First Evaluation Period will be in October. Here’s how it works:

In August (first statement cycle), September (second statement cycle), and October (third statement cycle), you’ll automatically earn the LevelUp Rate to provide an opportunity to set up deposits.
In October (the First Evaluation Period), you’ll need to make $250 in deposits to keep the LevelUp Rate for November.

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No, you don’t need to make deposits during the first two statement cycles to earn the LevelUp Rate. This gives you time to set up any recurring monthly deposits.

Savings Accounts and CDs FAQ

Dec 31, 1969

less than a minute read

Can I make multiple deposits in a month to meet the requirement?

Yes, you can make multiple deposits during the Evaluation Period to meet the minimum deposit of at least $250 to earn the LevelUp Rate.

Savings Accounts and CDs FAQ

Dec 31, 1969

less than a minute read

What is the Evaluation Period?

The Evaluation Period for your LevelUp Savings account refers to the previous month’s statement cycle.

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Dec 31, 1969

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Can I withdraw funds from my CD early and are there penalties if I do?

Any early CD withdrawals made outside the 10-day grace period following the maturity date may be subject to an early withdrawal penalty.

Savings Accounts and CDs FAQ

Dec 31, 1969

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How does early direct deposit work?

When you set up direct deposit into your Happen Bank savings account, we make your funds available as soon as we receive notification from the depositor when funds will be available.

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