Cash Reserve is only available to clients of Betterment LLC, which is not a bank, and cash transfers to program banks are conducted through the clients’ brokerage accounts at Betterment Securities. For Cash Reserve ("CR"), Betterment LLC only receives compensation from our program banks; Betterment LLC and Betterment Securities do not charge fees on your CR balance.
Bucket your savings.
Create separate stashes of cash for specific goals, and even set up auto-deposits for each. Save purposefully for whatever is on this year’s to-do, to-purchase, or to-make list.
Bucket your savings.Create separate stashes of cash for specific goals, and even set up auto-deposits for each. Save purposefully for whatever is on this year’s to-do, to-purchase, or to-make list.
Access your cash quickly.
Move your money as often as you want with no transfer fees or limits. And when you need it, you can withdraw in just 1–2 business days.
A different way to save.Cash Reserve doesn’t offer a set rate like a bank. It tracks the rate set by the Fed, and at * (variable) is earning 4X the national average.**
Get advice to save better.
This isn’t just a place to store cash. You also get spending analysis and guidance to help you hold the right amount of money and grow your savings.
Get advice to save better.This isn’t just a place to store cash. You also get spending analysis and guidance to help you hold the right amount of money and grow your savings.
Joint Cash Reserve accounts
When customers speak, we listen. You wanted joint accounts. Now they’re here, and eligible for up to $2 million† in FDIC insurance with our program banks.
* 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. 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 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. Two Way Sweep and Cash Analysis are not available for goals that can be held in Betterment cash or an Investing portfolio strategy. These features can only be accessed through a Cash Reserve goal.
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.
** The national average savings account interest rate is reported by the FDIC (as of April 1, 2021) as the average annual percentage yield (APY) for savings accounts with deposits under $100,000.