The Betterment Security and Privacy Promise
At Betterment we promise the utmost security and privacy. That's why we provide:
Bank Level Security
Banking industry standards for data security. Read More
Protection from unauthorized account activity. Read More
Securities in your account are protected up to $500,000. Read More
We use banking industry standards for data security to ensure your information is safe and our interactions with you are secure. We use 256-bit SSL encryption, store all of our data on our own servers in a secure facility, and implement systematic processes and procedures for securing and storing data.
For more information on our security technology and procedures, please review our Security Procedures.
We are committed to protecting your account from unauthorized activity. We will work to recover any loss that results from unauthorized use of your Betterment account.1 If you see any unauthorized activity in your account, report it immediately. Do not share your account information or password with anyone else. If we determine the transaction was initiated by someone you have given your account information and password to then we will have to consider the transaction authorized by you.
For more information on phishing and fraud, please review our Security Procedures.
1 Applies only to transactions covered under the federal Electronic Fund Transfer Act, and requires that you notify us within 60 days of the unauthorized transaction and that you have exercised appropriate account safeguarding practices and have complied with your responsibilities as set forth in the Betterment account agreement and disclosures.
Betterment accounts are SIPC protected (up to $500,000 per customer) against losses resulting from fraud or mismanagement. SIPC coverage means that if anything happens to Betterment you will get your securities back promptly. Unlike FDIC insurance for banks, SIPC does not protect against losses due to normal swings in the market. An explanatory brochure is available at http://www.sipc.org.
Betterment LLC (“Betterment”) and Betterment Securities (collectively the “Firms”) each comply with Regulation S-P which requires financial institutions to adopt policies and procedures to protect the non-public personal information of clients. The Firms do not sell personal information to other companies for their independent marketing purposes.
Because we value your trust, we will protect the privacy of your information and will never sell your personal information to a third party without your permission for any purpose.
Criteria for Disclosure
In order to service a customer account, Betterment or Betterment Securities may disclose necessary personal information to companies including, but not limited to, brokerage firms, custodians and public accounting firms (as permitted or required by law). Betterment and Betterment Securities will not otherwise disclose any personal customer information unless:
- - Betterment or Betterment Securities receives prior written consent from the client;
- - Betterment or Betterment Securities believes the recipient is an authorized representative of the client; or
- - Betterment or Betterment Securities is required by law to disclose information to the recipient.
To fulfill the Firms' commitments to privacy, each has instituted firm-wide practices to safeguard the information they maintain. The Firms each employ physical and electronic safeguards to keep client information safe, limit access to personal information to only those employees with authorized access, and require third parties that perform services for the firms to agree to keep client information confidential. Furthermore, if a client relationship is terminated, the Firms will continue to adhere to the privacy policies and practices described above.
Report Online Securities Issues
If you suspect you are the victim of a security breach or fraud, or you receive a fraudulent email that looks like it is from Betterment, please contact our Fraud Prevention Team immediately. The earlier we detect an issue the better able we are to protect you.