The basics
What's changing?
We've made it easier to use bank accounts you've linked to Betterment. Once it's linked, you can use it across all of your accounts at Betterment, instead of re-linking it separately for each account group.
Do I need to do anything?
For most people, no. Your linked accounts will keep working the way they do today.
If we do need something from you, we'll email you directly with exactly what to do and by when. You can see your linked accounts in Settings > External accounts.
Does this affect my actual bank account?
No. Your bank account itself isn't affected at all. This is only about how Betterment manages the connection to it.
What if I share a Betterment account with someone else, like a spouse or trustee?
Each linked bank account is managed by the person who linked it. If someone else on a shared account wants to use it too, they can link it themselves. They will not be able to see it when transacting until they do.
Managing external accounts
Where can I see and manage my external accounts?
We've brought everything into one place, so it's easier to find and use. Every external account you've linked now lives together in Settings > External accounts, and any bank account can be used to fund any of your Betterment accounts.
How can I distinguish my various bank accounts?
You can now name your bank accounts. Go to Settings > External accounts > Edit on the bank account you would like to set a name for. Once you change the name, you will see it reflected when you go to make a transaction.
Who else can see or use a bank account I own?
Only you can use it. If you share a Betterment account with someone else, they'll be able to see that a bank account is linked when viewing recent and scheduled transactions, but they can't use it themselves unless they link it themselves.
What if an external account I want to use is missing?
In some rare cases, a bank account may have been removed from your account. If you would still like to use this bank account, you will need to re-link it. You can do so from Settings > External accounts > Link new account.
How many bank accounts can I use?
You can transact with up to 10 bank accounts per 90-day period.
Do I need to do anything to use my linked accounts for funding?
No. Any bank account you link to Betterment that's eligible for funding (i.e., has an account and routing number) should show up as eligible when you go to transact.
Managing recurring transactions
Will my recurring transactions keep going during this change?
For most people, yes, with no action needed. If yours needs a confirmation, you'll get an email stating the exact date to act by.
Can I update recurring transactions on a shared account?
You can always skip or turn off recurring transactions on shared accounts. To edit the details on a recurring deposit, you must link the bank account it’s using to Betterment.
What if I also want to manage a recurring deposit to a shared account?
You can now create multiple recurring deposits to a given sub account. You can create as many as you would like from the bank accounts you linked to Betterment and own.