Betterment Help Center | Refer A Friend

Q: What Refer a Friend rewards are available?

A qualifying referral can earn up to two rewards: A 0.75% APY boost on Cash Reserve on up to $1M for 92 days, A $150 investing bonus for an eligible automated investing account Both rewards can be earned on the same referral if the qualification requirements are met.

Q: What happens if a referred friend withdraws money after receiving the investing bonus?

The $150 investing bonus for referred friends is subject to a 3-year holding period. If, during that period, withdrawals or transfers cause the eligible investing account balance to fall below $250, an Early Removal Fee may apply. The fee is capped at 80% of the amount withdrawn or transferred in a single transaction, and total Early Removal Fees cannot exceed $150 during the holding period.

Q: Which accounts are eligible for referral rewards?

For referred friends, eligible accounts are individual Cash Reserve accounts and individual automated investing accounts (including taxable and all IRA types). Deposits into self-directed investing, 401(k), health savings, joint or trust automated investing, and Betterment Checking accounts do not qualify for the investing reward. Joint and trust Cash Reserve accounts are also not eligible for the receiver APY boost.

Q: How does Betterment’s Refer a Friend program work?

If you’re an existing Betterment customer, you can share your referral link or referral code from the Rewards Center in your account. If your friend signs up and funds an eligible account within the qualification window, they can earn referral rewards and you may also earn rewards based on the account types you have open when they qualify.

Q: Is there a limit to how many referral rewards I can earn?

Yes. Senders can earn rewards for up to 5 successful referrals per calendar year. If you have both qualifying account types open when a friend qualifies, you can receive both sender rewards for that referral. You can keep sharing referrals after you reach the cap, but you will not earn additional sender rewards until the cap resets on January 1; your friend can still earn their own rewards if they qualify.

Q: How do I find my referral link or check my rewards?

On the web, log in to your account, select Earn Rewards from the menu, and choose from Eligible Rewards or Earned Rewards. In the mobile app, log in, open the menu from the upper left, tap Earn Rewards, and scroll to view your options.

Q: Can my friend combine the Refer a Friend offer with another new customer offer?

No. Referred friends are not eligible for other new customer offers.

Q: When are Refer a Friend rewards applied?

Sender rewards are granted at the time the referred friend qualifies. For referred friends, the Cash Reserve APY boost begins on the date of the qualifying $10+ deposit and continues for 92 days. The $150 investing bonus is paid after a 30-day tenure period that starts when the qualifying deposit is made; the referred friend must still have at least $100 in the account at that time.

Q: What do I need to do as the person referring a friend?

Your reward is based on which eligible account types you have open at the time your friend qualifies by funding their account. If you have only Cash Reserve, you can earn the APY boost. If you have only an eligible automated investing account, you can earn the $150 investing bonus. If you have both, you can earn both rewards.

Q: Are joint or trust accounts eligible for referral rewards?

For senders, joint and trust accounts can count toward eligibility for sender rewards. For referred friends, rewards are limited to individual accounts only.