Happen Bank (formerly LendingClub)
Happen Bank (formerly LendingClub) LevelUp Checking (successor to Rewards Checking)
By Alex Compton · Last verified
Cash back checking that pays double on LendingClub loan payments
Insurance: FDIC insured to $250,000 through Happen Bank, N.A. (formerly LendingClub Bank), a direct FDIC member
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-10-12 | 1.00% on balances of $2,500+; nothing below $2,500 | $0 | None | Happen Bank LevelUp Checking page →LendingClub Bank rebranded Happen Bank, N.A.; old URL 301-redirects to happen.com. Reconfirmed 1.00% APY at $2,500+ (as of 10/09/2026), no fees or opening deposit, unlimited ATM rebates and 2% back on loan payments; debit cash back now requires a monthly direct deposit |
| 2026-06-11 | 1.00% on balances of $2,500+; nothing below $2,500 | $0 | None | Archive record · no attached snapshotLegacy snapshot before event-level evidence attachments |
Primary-source verification log
Append-only evidence ledger- changed
LendingClub Bank rebranded Happen Bank, N.A.; 1.00% at $2,500+, no fees, unlimited ATM rebates and 2% on loan payments confirmed; debit cash back now needs a monthly direct deposit
Fields: bank, fdic, features, atm, pros, cons, ourTake, url
Happen Bank LevelUp Checking page →
Features
- ▸1% cash back on debit purchases at gas stations, grocery stores, and pharmacies in any month with at least one direct deposit
- ▸2% cash back on on-time personal loan payments made from the account, an industry first
- ▸1.00% APY on balances of $2,500 and up
- ▸Early direct deposit up to 2 days
- ▸No monthly fee and no opening deposit (Rewards Checking required $25)
- ▸Unlimited ATM fee rebates on out-of-network operator surcharges
- ▸Replaced Rewards Checking, which closed to new customers in 2025
Pros
- +Only checking account anywhere that rewards paying off your loan
- +Real bank charter with a clean fee schedule
- +ATM rebates plus APY plus cash back is a rare trifecta
- +Pairs with LevelUp Savings (4.20% APY with $250+ monthly deposits)
Cons
- −Debit cash back is limited to gas/grocery/pharmacy and needs a monthly direct deposit
- −Sub-$2,500 balances earn no interest at all
- −1.00% APY is below the fintech leaders even when you qualify
- −Most valuable only if you also carry a Happen Bank (formerly LendingClub) personal loan
Our Take
LendingClub, now rebranded Happen Bank, swapped its well-liked Rewards Checking for LevelUp Checking, and the trade is roughly neutral unless you have one of its personal loans, in which case the 2% back on loan payments is free money nobody else offers. The grocery-gas-pharmacy 1% and ATM rebates keep it respectable as a standalone. Rate chasers should look at the paired LevelUp Savings for yield and treat the checking as the rewards layer.
Best for: LendingClub borrowers and everyday debit spenders in the bonus categories
Open at Happen Bank (formerly LendingClub) →Last verified 2026-10-12
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