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 |
|---|---|
| Truist Bank1 | |
| State Street Bank and Trust Company1 | |
| HSBC Bank USA, N.A.1 | |
| Webster Bank, N.A.1 | |
| Barclays Bank Delaware1 | |
| First Merchant Bank1 | |
| Bell Bank (Fargo, North Dakota) * pending removal on 7/8/2025 | |
| The Bancorp Bank2 | |
| Cross River Bank | |
| First Internet Bank of Indiana 1 | |
| Wells Fargo Bank, N.A.1 | |
| CIBC Bank USA1 | |
| NexBank1 | |
| Morgan Stanley Bank, N.A.1 | |
| Morgan Stanley Private Bank, National Association1 | |
| Bank Hapoalim, B.M.1 | |
| Northbrook Bank and Trust Company, N.A.1 | |
| Lake Forest Bank & Trust Company, N.A.1 | |
| Encore Bank 1 | |
| State Bank of the Lakes, N.A. 1 | |
| Wheaton Bank and Trust, N.A. 1 | |
| Forbright Bank 1 | |
| First Western Trust Bank1 |
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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