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  Betterment Cash Reserve

Betterment Cash Reserve

in Savings Accounts from Betterment LLC · fdic

Claimed

Betterment Cash Reserve

Claimed

in Savings Accounts from Betterment LLC · Member FDIC

SuperMoney Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

15 users recommend
0 users are unsure
0 users don't recommend
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Highlights
Community Rating Strongly recommended
Monthly Fee $0
APY (Annual Percentage Yield) 0.3%
APY Minimum Balance $0
Number of Reviews 15

Betterment Cash Reserve Review

Betterment Cash Reserve is offered by Betterment LLC, a financial services company founded in 2008 and based in New York, NY. Betterment Cash Reserve is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. Betterment Cash Reserve has an annual percentage yield of up to 0.3%, which is higher than the national average interest rate on savings accounts.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • Small minimum initial deposit. You only need $10 to open an account.
  • Bill pay. Pay your bills to practically anyone in the United States through Betterment LLC.
Betterment Cash reserve Pros & Cons
Pros Cons
  • Zero fees.
  • No minimum balances.
  • Available in all 50 states.
  • Interest-yielding account.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Online-only account with no access to physical branches.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
Betterment Cash reserve FAQ

Are savings accounts from Betterment LLC federally insured?

Yes, your Betterment LLC savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does Betterment LLC offer a signup bonus?

Betterment Cash reserve doesn't offer a signup bonus.

What is the minimum initial deposit for Betterment Cash reserve?

The minimum deposit to open a Betterment Cash reserve is $10.
Betterment Cash Reserve Minimums
Description
APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $10

What APY does Betterment LLC offer?

Betterment Cash reserve offers an APY of 0.3% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Betterment Cash reserve charge?

Betterment Cash reserve does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Betterment Cash reserve offer?

This savings account includes the following features:

  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Betterment Cash reserve allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to Betterment Cash reserve?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Betterment Cash reserve?

The customer support email for Betterment Cash reserve is support@betterment.com.

How do people rate the customer service and user experience of Betterment Cash reserve?

Overall, Betterment Cash reserve is strongly recommended based on community reviews that rate customer service and user experience.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Other Services by Betterment LLC

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $10
Bank Teller Fee $0
Early Account Closure $0
Monthly Fee $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Protection
  • Automatic Transfers
  • Member FDIC
  • Online-Only Account
APY (Annual Percentage Yield) 0.3%

Betterment Cash Reserve Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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