Managing Plan Bank Accounts

There are two types of bank accounts associated with your plan: one for payroll and compliance-related funding, and one for billing and invoice payments.

Payroll Bank Account

This account is used to fund participant transactions, including:

  • Payroll contributions
  • Compliance-related actions such as refunds and corrections
  • Any other activity that results in money being deposited to participant accounts

You can view or update this account in the Bank accounts section under Settings > Your profile in the Plan Sponsor Dashboard. This account must be active and verified to process any funding-related actions.

Billing Bank Account

This account is used to pay Betterment invoices. To manage it:

  • Go to the Billing section in your Settings
  • Click View & Manage Billing Information
  • You will be taken to our Stripe Billing Portal, where you can: 
    • Add or remove a payment method
    • View invoice history
    • Update billing contacts

Accepted Payment Methods

Betterment accepts the following payment types through Stripe:

    • Credit card (including Apple Pay, Google Pay, and Link)
    • ACH direct debit
    • ACH or wire transfer

Check payments are not accepted. Any checks received will be securely discarded.

Autopay Enrollment and Opt-Out

Adding a payment method in the Stripe Billing Portal or using the payment link in your invoice email will automatically enroll your plan in Autopay. This means payment is processed as soon as the invoice is finalized.

To opt out of Autopay, remove the payment method in the billing portal.

Payment Processing Times

    • Credit Card: Instant
    • ACH direct debit: Up to 14 days for the first payment, then typically 4 business days
    • ACH or wire transfer: Usually clears within 3 to 5 business days

Verifying a New Bank Account

If you are having trouble with micro deposit verification, try selecting "Send another deposit" in the billing portal. If the issue continues, we recommend using an alternative account or payment method.