HMBradley Review

HMBradley logo


8.5 rating

Bottom Line

HMBradley is built around one central premise – to help people save more money. To help savers grow their money, they reward those who save the most with higher interest rates on their balances.


  • High maximum APY rate
  • No minimum opening deposit
  • Rewards you for saving money


  • No overdraft protection
  • No interest on balances over $100,000
  • Required to be a credit card holder to earn the highest rates

HMBradley logo

Learn More

at HMBradley

HMBradley is a fintech company that has a unique value proposition.

Highly rated on Business Insider, HMBradley offers a hybrid checking account with competitive APY. So competitive that it offers a better savings rate than some of the most well-known high-yield savings accounts.

It also has a mobile app that’s smart enough to adapt to your financial habits (and makes online banking straightforward).

This proposition has been so well received that HMBradley had to move to an invite-only model for the time being.

This review will look at everything that HMBradley offers, including accounts, minimum balance requirements, annual fees, pricing, and everything else.

We will also be comparing HMBradley with its competition, helping you further understand whether they’re the right choice for you.

What is HMBradley?

HMBradley is a fintech company that’s as fresh out of the gate as it gets.

If you’re curious about how HMBradley came about, this startup was founded in 2019 in Los Angeles by Dmitry Gritskevich, Germain Cassiere, and Zach Bruhnke. It has received rave reviews and funding from PayPal founder Max Levchin.

HMBradley is what is known as a challenger bank or neo bank. As such, it is not a bank in the traditional sense.

It is partnered with Hatch Bank (member FDIC), meaning FDIC insured and can offer deposit accounts, debit cards, and credit cards.

The fact that it’s not a bank, however, takes nothing away from HMBradley. We see many such banks pop into existence, each offering something unique as it tries to chip away at a specific market niche.

These challenger banks come in all shapes and sizes, and no matter how unique your lifestyle is, chances are there’s such a bank that is perfectly tailored for your needs. HMBradley is an excellent option for those who are looking to save money.

HMBradley Products

There is only one HMBradley Account, aptly called One Account, and an HMBradley credit card. We will have a look at One Account first.

One Account

At face value, One Account works like a checking account and a savings account rolled into, ahem, one Account. In reality, however, it is neither a checking account nor a savings account. The underlying Account is a NOW account.

NOW stands for Negotiable Order of Withdrawal, which is a type of deposit account. If you haven’t heard of this type of Account, don’t panic – they have a long history that dates back to the Great Depression of 1929-1946 and lost popularity in 2011 when regulations changed.

Even so, the Account comes with some exciting features – all geared towards helping you save more money.

One such feature is Plans. Here, you can organize different plans as you would with buckets, helping you understand how close or far you are from reaching each savings goal.

Interest, which we will discuss in more detail in the next section, is applied to the entire balance, regardless of how it’s split into different plans.

HMBradley Mastercard

HMBradley also offers a Mastercard credit card with a tailored cashback system that changes according to your spending habits.

Each month, HMBradley will adjust your cashback percentage to get 3% on the category you spend the most, 2% on the second category, and 1% on everything else.

This way, you can maximize how much money you make back each month without worrying about overspending to meet cashback criteria.

Another exciting feature of the credit card is the Savings Tier Boost.

Every month you need to spend a minimum of $100 on your credit card, and your savings get an APY boost the next quarter.

HMBradley Interest Rate Tiers

HMBradley is built around one central premise – help people save more money. To help savers grow their money, they reward those who save the most with higher interest rates on their balances.

Starting in February 2022, they’ve changed up their APY tiers to also factor in whether you’re a HMBradley credit card holder.

There are four interest tiers, starting at an APY (Annual Percentage Yield) of 0.125% and maxing out at 3.00%.

Cardholder Without the Card
Tier 1 (saving 20%) 3.00% APY 1.00% APY
Tier 2 (saving 15%) 1.50% APY 0.50% APY
Tier 3 (saving 10%) 0.75% APY 0.25% APY
Tier 4 (saving 5%) 0.375% APY 0.125% APY

You’ll need to meet the following requirements monthly to qualify for the savings boost in each tier:

  • Spend at least $100 on your HMBradley credit card
  • Have direct deposits into your deposit account totaling $2,500

While the requirements are monthly, your tier is locked in each quarter.

For example, if you meet the above requirements in January, February, and March and have maintained a savings rate of 15%, then you’ll earn the 1.5% tier 2 rate for April, May, and June – regardless of whether you’re continuing to meet the above requirements.


The One Account has no monthly service fees and no minimum opening deposit requirement either.

The credit card has a yearly fee of $60; however, they waive for the first year. You can also expect fees for late-payments and returned payments.

Getting Started

As mentioned earlier, HMBradley has currently put new registrations on hold. If you want to join, you will need to sign up for their waiting list.

Once you have registered, you will need to wait until they contact you with further details.

Unfortunately, HMBradley has not made public any indication of the waiting list or how long it will take before opening registrations again.

Either way, you can expect a smooth online registration process, similar to what other fintech companies operating in this space have.


HMBradley has a referral program that can see you earn additional interest on your money. Such a referral program is very different from what other banks offer, which is usually straight-up cash.

However, this is very much the ethos of HMBradley: the more money you save, the bigger your bonus will be. It’s yet another example of the HMBradley mission to reinforce the value of saving.


When it comes to security, HMBradley has all of its bases covered. Data at rest and in transit is encrypted using industry-standard encryption, and they regularly undertake infrastructure and compliance audits. They also use two-factor authentication for increased user login security.

While HMBradley is not a bank, they are still insured up to $250,000 per depositor. Insurance is offered through Hatch Bank.

Furthermore, both debit and credit cards are covered by Master’s Zero Liability Protection. Through this protection, you won’t be held liable for unauthorized transactions. However, you will need to take reasonable precautions to protect your card and report suspicious activity straight away.

Customer Service

When it comes to supporting their customers, HMBradley offers a few different options.

Like many other financial institutions, they have a detailed FAQs section, which is comprehensive enough to answer the most basic questions.

Everything is categorized and labeled, helping you make sure you can find the answers you are looking for fast.

If you prefer to talk to an actual person, you can send them an email or use the online chat system. The latter should offer faster response times; however, it is only available from Monday to Friday, 9:00 AM to 5:00 PM Pacific Time.

Pros & Cons

HMBradley is not a perfect fit for everyone. While they offer some great features, whether it’s the right solution for you or not depends on what you’re looking for in a bank.

Like everything else, it has its pros and cons. Understanding what these are can help you decide if it has enough features to suit your requirements.


  • High maximum APY rate
  • No minimum opening deposit requirement
  • Rewards you for saving money


  • No overdraft protection
  • No interest on balances over $100,000
  • You need to join a waiting list to open an account

Alternatives to HMBradley

The fintech space in which HMBradley operates is quickly filling up by competing companies looking for their own slice of the pie. As such, you’ll be able to find several alternatives to HMBradley.

SoFi Money

You probably know quite a bit about SoFi Money already – we’ve definitely covered this financial institution before.

Their rates aren’t as high as HMBradley, but SoFi Money offers several other features and perks to make up for the shortfall.

These include getting paid up to two days earlier, a welcome bonus of $50, and overdraft coverage, among other features.

Just like HMBradley, SoFi Money has no monthly fees and no opening deposit requirement. SoFi also offers a broader range of products and services, including loans, mortgages, investments and insurance.


Varo is another direct competitor to HMBradley. They offer a hybrid bank account that works like a checking account and a savings account, in one. The highest APY rate on their savings account stands at 3.00%.

However, you don’t need to save money to earn this rate. Instead, the bank offers a very different set of requirements that include:

  • Receive direct deposits of at least $1,000 per qualifying period
  • Keep your daily savings balance at $5,000 or less
  • Keep both Bank Account and Savings Account above $0.00 for the whole month

Varo also comes with a cashback of up to 15% and an early direct deposit. There’s also Varo Advance which can get you a cash advance of up to $100at a maximum fee of $5.00. If your credit score has suffered a hit, Varo also offers a Varo Believe program that lets you build up your credit again.


What kind of account is HMBradley?

HMBradley’s account is a NOW account, which stands for Negotiable Order of Withdrawal.

While these accounts are not as common as they used to be, their primary purpose is to allow financial institutions to pay interest on the entire balance, which HMBradley does.

Is HMBradley legitimate?

Yes, HMBradley is a legitimate company. So, if you’re looking to open a new account that rewards you for saving, HMB is worth checking out.

They offer FDIC insurance through Hatch bank, so you’re always covered.

Does HMBradley have a debit card?

Yes, HMBradley offers a debit card, which comes with their One Account.

Who is HMBradley for?

If you have trouble with personal finance and find it hard to save, HMBradley could be good for you.

And even if you’re good at growing your account balance and want to be rewarded for it, HMBradley is an excellent option to check out.

However, you have to keep in mind that HMBradley is not a traditional bank and, as such, might not work for you if you’re looking for something to cater to all of your banking requirements.