We see what your money can be
We see what your money can be
Money's not just a number. It's a connection between you and the things you want. No matter what you want to do with your money, we're here to help you spend, save, and invest it better.
No matter what you want to do with your money, we're here to help you spend, save, and invest it better.
We started Betterment in 2010, in the wake of a financial crisis, to be a place built to help people do what's right with their money so they can live better.Jon Stein, Founder & CEO Read more about our story
10 years later, we have
Trusting us with
Betterment Checking is our no-fee‡ checking account and debit card for your daily purchases.
ATM fees reimbursed. No account fees. No minimum balances. Why? Because you shouldn't have to pay to access your own money.
Checking is made available through Betterment Financial LLC and provided by nbkc bank, Member FDIC
Cash Reserve is the place to save and organize your money for the near-term.
What are you hoping to buy soon? From weekly groceries to a new sofa, make your savings go further with 6X the national average** APY.
Cash Reserve is available to clients of Betterment LLC, which is not a bank, and cash transfers to program banks are facilitated by Betterment Securities.
Investing is all about the long-term, like a big kitchen reno, down payment, or child's education.
Whatever you've got in mind, we're built to help you earn more on your investments with us and make smart decisions with your money.
As seen in
Your satisfaction is guaranteed
We are committed to providing our customers with a great experience. If you are not completely satisfied with your Betterment experience, we will do everything we can to make it right.
Investing and Retirement accounts
If you're unhappy, we'll waive Betterment's management fees for up to 90 days. Contact us if you have questions.
Checking and Cash Reserve
There are no fees on your balance in either Cash Reserve or Checking products, so you can try either product out without worry. Instead of charging you fees, Betterment receives payments from its program banks for Cash Reserve, and Betterment Financial LLC earns revenue from merchant interchange fees and net interest margin on balances in Checking accounts.
For investing and retirement accounts, Betterment Securities—the entity that holds Betterment customers' assets—is a member of the Securities Investor Protection Corporation (SIPC), which covers customer claims up to $500,000 including a maximum of $250,000 for cash claims. While SIPC protects your funds in the case that Betterment Securities fails, it does not protect against investment losses from the market.Learn more about SIPC protection
For Betterment Cash Reserve accounts, Betterment Securities deposits your money with program banks. Once a program bank receives the money, the deposit is insured by the Federal Deposit Insurance Corporation (FDIC). If you already have accounts with a program bank, your total balance may not be insured.
For Betterment Checking, which is provided by Betterment Financial LLC in partnership with nbkc bank, deposits are insured by the FDIC up to $250,000. If you have existing accounts at nbkc bank, member FDIC, your entire balance may not be fully insured.Learn more about FDIC insurance
Getting into the details
1Assets under management mentioned above are reported as of 07.20.2020. You can learn more about our current assets under management in our Form ADV Part II.
2Accurate as of 07.20.2020. Current rating can be found on Betterment's App Store listing and is subject to change. Rating is based on the average of all total app reviews from App Store®. App Store users are not required to be Betterment clients to rate the app. Rating is not necessarily representative of any one client's experience, nor is it indicative of investor performance. "Top Rated Personal Finance App" category awarded to finance apps above 4 stars ratings by the App Store, and individual reviewer experience may vary.
** The national average savings account interest rate is reported by the FDIC (as of 07/20/2020) as the average annual percentage yield (APY) for savings accounts with deposits under $100,000.
Betterment Cash Reserve
*The annual percentage yield ("APY") on the deposit balances in Betterment Cash Reserve ("Cash Reserve") is and represents the weighted average of the APY on deposit balances at the banks participating in Cash Reserve (the "Program Banks") and is current as of . This APY is variable and subject to change daily. See Current APY. Deposit balances are not allocated equally among the participating Program Banks. A minimum deposit of $10 is required, but there is no minimum balance required to be maintained. The APY available to a customer may be lower if that customer designates a bank or banks as ineligible to receive deposits. APY applies only to Cash Reserve and does not apply to checking accounts held through Betterment Checking. Cash Reserve and Betterment Checking are separate offerings and are not linked accounts.
†Betterment Cash Reserve ("Cash Reserve") is offered by Betterment LLC. Clients of Betterment LLC may participate in Cash Reserve through their brokerage account held at Betterment Securities. Neither Betterment LLC nor any of its affiliates is a bank. Through Cash Reserve, clients' funds are deposited into one or more banks ("Program Banks") where the funds earn a variable interest rate and are eligible for FDIC insurance. Cash Reserve provides Betterment clients with the opportunity to earn interest on cash intended to purchase securities through Betterment LLC and Betterment Securities. Cash Reserve should not be viewed as a long-term investment option.
Funds held in your brokerage accounts are not FDIC‐insured but are protected by SIPC. Funds in transit to or from Program Banks are generally not FDIC‐insured but are protected by SIPC, except when those funds are held in a sweep account following a deposit or prior to a withdrawal, at which time funds are eligible for FDIC insurance but are not protected by SIPC. See Betterment Client Agreements for further details. Funds deposited into Cash Reserve are eligible for up to (or $2,000,000.00 for joint accounts) of FDIC insurance once the funds reach one or more Program Banks (up to $250,000 for each insurable capacity — e.g., individual or joint — at up to four Program Banks). Even if there are more than four Program Banks, clients will not necessarily have deposits allocated in a manner that will provide FDIC insurance above (or $2,000,000.00 for joint accounts). The FDIC calculates the insurance limits based on all accounts held in the same insurable capacity at a bank, not just cash in Cash Reserve. If clients elect to exclude one or more Program Banks from receiving deposits the amount of FDIC insurance available through Cash Reserve may be lower. Clients are responsible for monitoring their total assets at each Program Bank, including existing deposits held at Program Banks outside of Cash Reserve, to ensure FDIC insurance limits are not exceeded, which could result in some funds being uninsured. For more information on FDIC insurance please visit www.FDIC.gov. Deposits held in Program Banks are not protected by SIPC. For more information see the full terms and conditions and Betterment LLC's Form ADV Part II.
‡Checking accounts and the Betterment Visa Debit Card provided by and issued by nbkc bank, Overland Park, Kansas, Member FDIC. Funds deposited into Checking will be eligible for up to $250,000 of FDIC insurance. Betterment Checking made available through Betterment Financial LLC. Neither Betterment Financial LLC, nor any of their affiliates, is a bank. Betterment Financial LLC reimburses ATM fees and the Visa® 1% foreign transaction fee worldwide, everywhere Visa is accepted. Checking accounts do not earn APY (annual percentage yield). Betterment Cash Reserve and Betterment Checking are separate offerings and are not linked accounts.