Am I still charged the whole fee even if I don’t use the product for the whole year?

No, you are not. Betterment’s fee is prorated across the year based on the average daily balance in your account, and a portion of this is charged monthly. So if you withdraw money from your account, your average daily balance will decrease and your fee for the month will reduce accordingly. If you withdraw your entire balance before the end of the month, we will simply charge the prorated fee at that time.

If your account exclusively consists of mutual funds, due to small price fluctuations in mutual funds that may occur on the transaction date, Betterment will accrue any fees over or under-assessed and apply the difference to adjust the following period’s fee.

We do not have fees for accounts with a $0 balance, so you can still keep your account open without penalty.