Cash Reserve
Cash Reserve is our no-fee, 100% cash account, which shields your money from market volatility. Because the returns on this account are low, relative to potential market returns, we typically recommend it only for money you plan to spend within the next year. This account includes the following features: 4.00% APY (variable)*, FDIC-insured up to $2 million at our program banks ($4 million for joint accounts)†, and fast access to your money.
In aggregate, funds deposited into Cash Reserve are eligible for FDIC insurance once the funds reach one or more Program Banks (up to $250,000 of coverage for each insurable capacity—e.g., individual or joint—at up to eight Program Banks). 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.
| Holdings | Program Banks in Cash Reserve |
|---|---|
| Bank Hapoalim, B.M.1 | |
| Barclays Bank Delaware1 | |
| CIBC Bank USA1 | |
| Cross River Bank | |
| Encore Bank 1 | |
| First Internet Bank of Indiana 1 | |
| First Merchant Bank1 | |
| First Western Trust Bank1 | |
| Forbright Bank 1 | |
| HSBC Bank USA, N.A.1 | |
| Lake Forest Bank & Trust Company, N.A.1 | |
| Morgan Stanley Bank, N.A.1 | |
| Morgan Stanley Private Bank, National Association1 | |
| NexBank1 | |
| Northbrook Bank and Trust Company, N.A.1 | |
| State Bank of the Lakes, N.A. 1 | |
| State Street Bank and Trust Company1 | |
| The Bancorp Bank2 | |
| Truist Bank1 | |
| Webster Bank, N.A.1 | |
| Wells Fargo Bank, N.A.1 2 | |
| Western Alliance Bank1 | |
| Wheaton Bank and Trust, N.A. 1 |
Additional Resources
Cash Reserve Terms and ConditionsCash Reserve is for cash you intend to purchase securities with and should not be viewed as a long-term investment option. Program bank list last updated May 12, 2025.
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.
Trust and corporate accounts may be eligible for additional insurance.
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