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Not a Betterment customer? Open and fund a Betterment Cash Reserve account. Afterwards, refer a friend and boost both your rates.  Get started

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Current customers: Earn more when you bring a friend

Invite a friend and boost both your rates for 3 months with an extra 0.75% APY on balances up to $150k.

See offer terms.

Refer a friend
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Cash Reserve offered by Betterment LLC and requires a Betterment Securities brokerage account. Betterment is not a bank. FDIC insurance provided by Program Banks, subject to certain conditions. Learn more.

See how Betterment’s Cash Reserve stacks up

Betterment Robinhood Gold SoFi Chase
APY

4.40%

4.00%

3.80%

0.1%
Account fees

$0

$5/mo

$0

$5/mo
(conditional)
FDIC insurance

Up to $2M

Up to $2.5M

Up to $3M

Up to $250k

What makes Betterment’s Cash Reserve better?

  • Coin going in a slot.

    $0 fees.

    Forget any monthly or maintenance costs—what you earn is what you keep.
  • Shield with a check mark.

    $2 million insured.

    Rest easy with FDIC insurance up to $2 million ($4 million for joint accounts) with our program banks. That's 8X what most firms offer.
  • 11xapyrate

    Earn a higher APY.

    Grow your savings with an APY 11x the national average.
  • A small flowering plant surrounded by butterflies

    No minimum balance.

    Other institutions offer higher interest rates based on a larger balance—you can grow your money with us for as little as $10.
Refer a friend

Optimize your cash today.
Start saving for tomorrow.

Set money aside for what matters to you. Create multiple savings goals and use our automated tools to help you achieve them. 
Refer a friend
Two goals with recurring deposit turned on. One for a new sofa, and another for a rainy-day fund.

Keep your money safe as it grows.

Cash Reserve lets you earn interest even during volatile times. FDIC insurance covers your money up to $2 million ($4 million for joint accounts) at our program banks, meaning you won’t have to sacrifice security for growth.
vault-shield-check-mark

Our Program Banks

Apple Bank1 Bank Hapoalim, B.M.1 Barclays Bank Delaware1 CIBC Bank USA1
Cross River Bank Encore Bank 1 First Internet Bank of Indiana 1 First Merchant Bank1
First Western Trust Bank1 Forbright Bank 1 HSBC Bank USA, N.A.1 Lake Forest Bank & Trust Company, N.A.1
Morgan Stanley Bank, N.A.1 Morgan Stanley Private Bank, National Association1 NexBank1 Northbrook Bank and Trust Company, N.A.1
Northern Bank & Trust Company1 State Bank of the Lakes, N.A. 1 State Street Bank and Trust Company1 The Bancorp Bank2
Truist Bank1 Webster Bank, N.A.1 Wells Fargo Bank, N.A.1 Western Alliance Bank1
Wheaton Bank and Trust, N.A. 1
Program bank list last updated as of Oct. 24, 2025. Up to $250,000 of coverage for each insurable capacity—e.g., individual or joint—at up to eight Program Banks. Electing to exclude one or more Program Banks from receiving deposits may lower the amount of FDIC insurance available through Cash Reserve.
Cash Reserve is for cash you intend to purchase securities with and should not be viewed as a long-term investment option.

Ready to boost your cash?

Refer a friend