Savings switch kit
How to move savings to LendingClub Bank
A practical checklist for opening the account, funding it safely, testing transfers, and avoiding payroll or bill-pay surprises.
Live APY
N/A
On $25,000
$0
Transfer timing
1-3 business days
Freshness
unavailable
Last verified
Who this switch is for
- Online-bank rate shoppers
- Savers who want to separate idle cash from spending cash
- Users comparing several high-yield destinations
Switch checklist
Printable checklist: use your browser print command to save this switch plan as a PDF.
- 1Open the destination savings accountUse the bank's official application flow. Confirm the account name, APY tier, fees, and minimum balance before submitting.
- 2Link your current bank by ACHUse instant verification when available. If micro-deposits are required, expect one to three business days before funding.
- 3Send a small test transferMove a small amount first, confirm it arrives, then schedule the larger transfer once the link is proven.
- 4Move idle cash in stagesKeep bill money and near-term cash in your current account until automatic payments and payroll timing are stable.
- 5Update alerts and beneficiariesTurn on balance and transfer alerts, then add beneficiaries if the bank supports them.
- 6Decide whether to close the old account laterDo not close your old account until deposits, bill pay, and subscriptions have cleared through the new setup.
Timing and gotchas
Opening deposit
Opening minimums and balance requirements can vary by product; confirm current disclosures.
Transfer timing
ACH funding commonly takes one to three business days after account linking.
Direct deposit
Direct deposit is not usually required for the core savings APY, but account terms can change.
FDIC coverage
LendingClub Bank, N.A. is FDIC-insured.
Cautions before you move cash
- Check: Verify account minimums, transfer limits, and current rate tiers directly before funding.
Methodology: live APY comes from SwitchWize rate observations when available. Break-even math compares the destination APY with the national-average savings benchmark on a representative $25,000 balance.