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).

• Higher than average APY. Betterment Cash Reserve has an annual percentage yield of up to 0.1%, 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.

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

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	Starting at $0
Minimum Opening Deposit	Starting at $10

What APY does Betterment LLC offer?

Betterment Cash reserve offers an APY of 0.1% (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.