[–][deleted] 5 points6 points7 points 1 year ago (6 children). Actually I'm not. Health Savings Accounts (HSAs) were created for a specific function: to help pay for qualified medical expenses. They simply want more customers and faster growth. Hope this is helpful. For most, this would be a headache, but I can manage and track this just fine. Launched in 2008, Betterment was the first robo advisor on the market. InvestingBetterment unveils checking and savings platform (self.personalfinance), "Our savings and checking platform that helps you save in your sleep. In summary, swipe fees are something for business owners to worry about, not customers. [–]fiscalgal​ 0 points1 point2 points 1 year ago (1 child). [–]RoseRileyRaves​ 2 points3 points4 points 1 year ago (1 child). [–]RoseRileyRaves​ 0 points1 point2 points 1 year ago (0 children). Yeah, they added that clarification after my comment. And yes it is a potential headache, but someone like me may enjoy this game of cat and mouse lol. Does Betterment include the savings account when they calculate their 0.25% management fee? Discover and amex actually have lending divisions though, so they need to have funding. Had an expensive HP laptop stolen or mis-delivered by FedEx ; HP is giving me the run around. As of 7/10/19, the highest APY we are offering is up to 2.69%*. I am trying to connect my Betterment account to my Marcus insights through Plaid, however, I keep getting an error stating that "action is required" on my Betterment account in order to integrate. It's weird... but I don't hate it. [–]jrthroway​ 23 points24 points25 points 1 year ago (8 children), “2.69% APY is a promotional offer for individuals who sign up for the Betterment Everyday Checking waitlist and applies to cash deposited into Savings for the duration of 2019.”. I too need to have a joint account to move from Discover. So total is 25% stocks. Yeah I saw that after reading a bit more. [–]cobaltorange​ 0 points1 point2 points 1 year ago (2 children). You have no direct interaction with the accounts behind the scenes. Just got the email that my transfer is complete. Oh i'm sure thats what they call themselves. After December, it seems like Betterment Savings will likely be a worse deal than Ally Savings when the promotional rate expires? I don't want to open 10 CC's in 2 weeks. I've just read through the FAQ and T&Cs and it's a strange but interesting design. Through the subsequent downturn and the zero interest rate environment, I had no reason to open any other savings accounts. How do you get the mentality of saving up. Betterment claims they've been in communications with FINRA and the SEC prior to launching this platform, so this should hopefully be innocuous. Betterment CEO Jon Stein here - just want to be clear, we can't guarantee any savings rate - this is not a CD, where the rate is fixed (and your funds are locked up), it's a savings vehicle, where you always have access to your money without penalty and the APY fluctuates over time. Now this account comes out at 2.69%. Dang. Get an ad-free experience with special benefits, and directly support Reddit. Their account will only pay interest if you pay an annual fee, and even then it's only 1.5%. And the ability to harvest and monetize user data. Betterment launched in 2010 and is one of the original robo-advisors. Betterment, a “robo-advisor” best known for their automated investing service, has added a high-yield savings product called Betterment Everyday Cash Reserve. There are swipe fees on every card transaction. Betterment Everyday. But whatever mechanism Betterment used for the TOA resulted in the liquidation of my Fidelity positions coming in as a ‘phone order’, which carries a $33 commission PER trade with Fidelity. Beat M1 to it. [–]Seref15​ 3 points4 points5 points 1 year ago (0 children). A tried and true bank or credit union is going to be more consistent. Not going to move again. Every month I put half in a HYSA and half in a Betterment "Major Purchase" account which is set to 50/50 stocks/bonds. [–]Whaty0urname​ 5 points6 points7 points 1 year ago (8 children). [–]Werewolfdad​ -1 points0 points1 point 1 year ago (0 children), [–]Malforus​ 7 points8 points9 points 1 year ago (2 children). [–]CosmosisQ 4 points5 points6 points 1 year ago (0 children). It was immediately listed as in the account, but the transaction is listed as "pending" so I'm not sure what that means for the daily interest. Betterment has a savings vehicle named Betterment Everyday – their foray into the banking world. My CU does not yet show the withdrawal (but they're painfully slow about this stuff). Original review: Dec. 2, 2020. I don't get a cashback bonus on my current checking account and I don't plan on paying the fee to get it with M1. They recommend over-investing by around 25% of your estimated emergency fund total to offset any end-of-the-world, 2008-style market dips, which isn't so bad since you're still getting pretty good yields on it. Every credit card and every debit card. Wealthfront and Betterment consider themselves tech firms. I guarantee you at least a few people will go open an account with betterment as a result of seeing this Reddit post. I'll start with a base contribution and then in 2 years I'll combine my former car payment with my base contribution, and again after my emergency savings goal is hit, etc. Currently at 2.68%. Earn up to 2.69% APY with Savings and get ATM fees … To find out more visit [betterment.com](https://www.betterment.com), Press J to jump to the feed. [–]art0rius 15 points16 points17 points 1 year ago (2 children), Regular rate is around 2.41% so still not bad, [–]L_gecko​ -5 points-4 points-3 points 1 year ago (1 child), [–]Creek0512​ 4 points5 points6 points 1 year ago* (0 children). and join one of thousands of communities. They'll also make money on swipe fees once their debit card launches. I'm saving for a down payment right now, and kind of hoping to be ready if the Seattle market dips (HAH). Press question mark to learn the rest of the keyboard shortcuts. I use an external online account for emergency fund, which serves the dual purpose of having a higher interest rate and being less convenient to withdraw quickly (mental separation / impulse control). eg: You have 10k and CU doesn't charge you if you have at least 500 in your CU account. [–]marsheazy 0 points1 point2 points 1 year ago (0 children). I also use Betterment for investing, and just transferred my emergency fund from Barclays. The TOA request triggered the sale of all ETFs and stocks I had in my Fidelity IRA, which was to be expected. [+]Werewolfdad​ comment score below threshold-7 points-6 points-5 points 1 year ago (1 child). Betterment Everyday is a cash management account that is FDIC insured up to $1,000,000 and pays a high-interest rate (0.40% APY). Also, this skirts the 6-withdraw-per-month maximum somehow (for now, I can't imagine regulators would be too happy with that). My old employer took 20K from my 401K after 6 years later I left. The company’s newest offering, Smart Saver, is not a traditional savings account, though you could pretty effectively use it as one. Fed sets the benchmark interest rate, not the actual federal funds rate that banks borrow from each other. So I'm trying to plan as if I'll have to withdraw when the market is down. For the accounts that I've opened and closed, there is no penalty. That's probably the most reasonable answer. Banks have been doing that forever. [–]Werewolfdad​ 7 points8 points9 points 1 year ago (5 children), They can't really invest customer money. Theres no penalty for moving accounts like that right? Rates are headed downwards, fed may lower this month so guaranteed 2.69% which is among the highest rates is a good deal. Earn up to 2.69% APY with Savings and get ATM fees reimbursed worldwide with Checking. Even more annoying, once you sign up, everything says 2.68% instead of 2.69%. (So 2.94 -.25= 2.69%), [–]Creek0512​ 0 points1 point2 points 1 year ago (3 children). Is that listed somewhere or just whatll most likely happen? A savings account with unlimited withdrawals and no monthly fees, but only one way to access funds. I already use Betterment for roboinvesting. Isn't expected that they make well more than 2.5% year over year? Betterment encourages a hands-off approach to investing, which can save inexperienced investors from losing their savings betting on the market. You may have better luck posting in the weekly thread at the top here, instead of a 21 day old thread: r/personalfinance/comments/cpawbj/weekday_help_and_victory_thread_for_the_week_of/, [+][deleted] 0 points1 point2 points 1 year ago (0 children), Does anyone see 2.69% anywhere on their website? They are taking 0.25% of the APY that their partner banks are paying on the deposits and the difference is the APY on your account. I just don't see them as particularly disruptive. Betterment is a clear leader among robo-advisors, offering two service options: Betterment Digital has no account minimum and charges 0.25% of assets under management annually. This one will go down to ~2.41% after the promotional period (Dec 31st 2019), so Wealthfront may well end up being the better option. Just consolidation. [–]CosmosisQ 2 points3 points4 points 1 year ago (2 children). [–]Werewolfdad​ 5 points6 points7 points 1 year ago (11 children). Has anyone else run into this issue? I'm relatively certain my Ally online savings account is "free" so why would I have this fee associated with an online account ?? [–]jodythecreator 0 points1 point2 points 1 year ago (0 children). I have my emergency fund in Betterment also, but I have it in their Safety Net investment goal. I started a transfer of some savings funds, I'll report back on how long it takes! [–]Werewolfdad​ 1 point2 points3 points 1 year ago (0 children), Remember financial services users are among the least likely to jump ship. I also have a more aggressive Betterment account (90/10 stock/bond) that I'm not counting on for down payment, but which I will certainly use if the market is up when the time comes! [–]Devilsfan118​ 2 points3 points4 points 1 year ago (1 child). Betterment has the new home option, so I have that set up. I am having a bit of trouble understanding the difference between the General Investing Account on Betterment vs. a typical retirement account (Roth IRA, IRA, 401k...). All your deposits, withdraws, and support claims will go through Betterment who then deals with the banks. Anyway, had they advised me to sell my positions myself in advance, or warned me that a call-in trade will occur, I could have saved the $600 I quickly lost (in completely avoidable fees) on this transfer. Betterment lowers high-interest savings account to 2.41% APY two weeks after debut, highlighting that online banks will reduce rates as the Fed does. savings rates will do the same - some move earlier, some later, some more and less, but ultimately most financial/banking rates in America (from mortgages, to credit cards, etc.) [–]D14DFF0B​ 34 points35 points36 points 1 year ago (9 children). [–]nbm13​ 1 point2 points3 points 1 year ago (0 children). Already moved from Ally to Wealthfront. ", [–]Seref15​ 40 points41 points42 points 1 year ago* (3 children), They're using 5 banks at the moment for the Savings platform: https://www.betterment.com/legal/everyday-savings-program-banks/. Here's a link to the PF Wiki for helpful guides and information. [–]dirty_cuban​ 1 point2 points3 points 1 year ago (0 children). Does it have an account or routing number? I've also botched it a few times and ended up paying a little over $100 in various fees. The Betterment Cash Reserve account is a basic savings account with a modest interest rate. The interest rate on the account today is actually 2.68%, so it's already lower than the rate they have plastered everywhere. I like the safety and guarantee of the HYSA, but having it grow more than ~2.4% is also really nice. One thing to note is that the smallest deposit amount you can make into Betterment Everyday™ Savings† is $10. FYI: you have to sign up for the checking account wait-list to get the 2.69% otherwise the savings account is 2.45%. [–]CosmosisQ 2 points3 points4 points 1 year ago (0 children). Savings account can be opened already now, and there is no obligation to actually signup for the checking account, you just need to join the waitlist to be eligible for the rate boost. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 646 on r2-app-0ef4cec1abfcb3569 at 2020-12-25 21:09:17.953644+00:00 running 6abf2be country code: US. Again, I repeat, this is the ONLY way to make an adjustment. [–]Tyrannosaurus-WRX​ 1 point2 points3 points 1 year ago (5 children). Other than your personal headache for handling the logistics? Even though the interest rate is a promotional offer and will be below Wealthfront’s afterwards, I’m still considering making the switch (or maybe I’ll just use both who knows). [–]CosmosisQ 0 points1 point2 points 1 year ago (0 children). [+]Jandrey117​ 0 points1 point2 points 1 year ago (2 children), I was wondering, what did you mean by the swipe fees? After receiving much needed feedback from customers, they decided to switch over from a high yield bond fund to an FDIC insured savings account. You Can’t Take Advantage Of Market Swings. Difference is Robinhood tried to use SIPC insurance, rather than FDIC. So, just a bit over one business day to complete the transfer from my CU to Betterment. Their literal self identified term is "Fintech" and yes that means they are funded by startup capital. Money immediately shows up in my Betterment account, but transaction is listed as "pending.". Coming out of this downturn in the current climate, there are accounts offering 2.5% interest now, and my savings amount has also grown a lot since the downturn. I decided to stop using Betterment and instead of having a tax implication by selling, I initiated a transfer of my betterment balance to my Vanguard account, in kind. 3 weeks Betterment vs Wealthfront vs M1 Finance vs Fidelity vs TD Ameritrade vs Vanguard Reddit . [–]c4d4 0 points1 point2 points 1 year ago (1 child). Consider that their promo bonus for signing up for the checking account waitlist also happens to be extra 0.25% APY, so it's basically them waiving their fee for the rest of 2019. You can check the overnight borrowing rates here: https://apps.newyorkfed.org/markets/autorates/fed%20funds. What's the appeal of M1? In many cases, you can find a 12-month CD that will accrue more interest in one year than a high-yield savings account. Betterment gets their cut from taking 0.25% from your yields (the advertised rates are after they've taken their cut). I like the idea of being able to deposit cash in an ATM although I rarely do that these days. [–]marsheazy -2 points-1 points0 points 1 year ago (0 children), [–]Whaty0urname​ 2 points3 points4 points 1 year ago (3 children). New Account Options With Betterment Earn Up To 2.69% High interest saving accounts are in high demand. I'm curious if it's similar to Wealthfront in that you can't initialize any ACH transfers from external accounts. Betterment is a robo-advisor – in fact, it’s the largest independent robo-advisor in the market – but one is gradually making its way into offering comprehensive financial advice.. Betterment was founded in 2008, and is based in New York City. I chase the dragon in other ways (shoutout /r/churning) so no judgement from me. [–]popegope428​ 12 points13 points14 points 1 year ago (5 children). I was thinking about switching from Ally but after the 0.25 percent fee, I'm only increasing my profit by just over $100 USD now through December. They definitely can move by 1 basis point. Move like 75% to betterment and keep 25% in the CU for bills and the like. Open to suggestion. I already have a couple investment accounts with them, so I'm considering. The minimum on it is only $300. I read the terms before opening and closing an account though, so you have to watch out for this yourself. The promotion through 2019 is an extra 0.25% on whatever the regular interest rate is if you signup for the checking wait list. Betterment’s year-end tax documents are … you guessed it, simple and straightforward. Betterment says they take their cut by skimming 0.25% off your yields. The portion we receive will be up to 0.25% Annual Percentage Rate (APR). Perfect! The real question is why are these brokerage firms paying up for cash? [–]BlackBerryConsultant​ 0 points1 point2 points 1 year ago (0 children), https://wwws.betterment.com/app/offers/checking_waitlist_boost_q3_2019?_ga=2.131567884.2030275777.1563914209-1185237057.1563914209, [–]foodnguns​ 0 points1 point2 points 1 year ago (0 children), The rate is one thing but that worldwide reimbursement could be nice, Thier using the same method fidelity and Schwab does,use multiple banker backs to max out the 250k per bank limit, [–]I_am_MagicMike​ 0 points1 point2 points 1 year ago (1 child). [–]Werewolfdad​ 11 points12 points13 points 1 year ago (11 children). But maybe that's just my old and curmudgeony biases showing. But I'd prefer not to. I'm pretty sure M1 plans on making transfers between your various accounts instantaneous in addition to providing asset-backed, low-rate (~4%) loans which are immediately available in your checking account. Qapital, Stash and Acorns have all launched checking and/or savings products … But one of the key advantages of a high-yield savings account is also one of the disadvantages of a CD: liquidity. The current 0.30% APY (as of April 23, 2020) is much … odd. So it's 2.69% - 0% = 2.69% with the promo, or 2.69% - 0.25% = 2.44% without the promo. Betterment’s phone support is non-existent, and email support response, after a lot of back and forth, was in essence, “Oh, well”. The level that some people go through with CC's is a little too much for me. Are savings accounts from Betterment LLC federally insured? In most cases the times during which your money is in transit you are earning no interest. I have Schwab checking, Schwab brokerage, Vanguard brokerage, Vanguard tIRA, Vanguard rIRA, Wealthfront, 401k website, Chase personal checking for my brick & mortar cash transactions, Chase personal savings, Chase business checking, and two CD accounts at a local bank that I'm looking to close but that won't be until 2021. Betterment unveils checking and savings platform, https://www.betterment.com/legal/everyday-savings-program-banks/, https://apps.newyorkfed.org/markets/autorates/fed%20funds, https://www.cnbc.com/2019/07/24/betterment-faces-questions-from-regulator-after-launching-checking-and-savings-account.html. If so, it would technically be a net 2.44% and then 2.19%. However, the money was in my checking account this morning. About Betterment. Much like gas prices. Barclays just dropped their rate to 2.10%, so guaranteed* 2.69% for 2019 and potentially 2.41% after that sounds pretty great. FAQ says they might consider them eventually. Having depositors means they can likely sell the "Banking Business" as a separate entity or help the valuation of the company. M1 Finance vs. Betterment – Summary and Conclusion. Rendered by PID 646 on r2-app-0ef4cec1abfcb3569 at 2020-12-25 21:09:17.953644+00:00 running 6abf2be country code: US. [–]Creek0512​ 5 points6 points7 points 1 year ago (0 children). Should I/can I/how do I initiate a charge back with my credit card? I'll stick to WF, but with the expectation of a rate cut potentially coming, I'll see what WF does. I don't understand why you wouldn't want to just put your money in a General Investing account so that you can have the freedom to withdraw before 59 1/2. It will be interesting to see how it trends in comparison to other HYSA). [–]brotherhood4232​ 2 points3 points4 points 1 year ago (0 children). I invested $20K, then it dropped by $2K. As a result, you don't have an account number or routing number. They do have some differences, however, and one of the ways they differ is in what they choose to emphasize for their clients.Betterment is a goals-based robo-advisor. Correct me if I'm wrong but don't these companies take the money we deposit with them and invest it? (*edit: the "guarantee" is 0.25% higher than their standard APY. Has anyone used any or all of these investment platforms? I only see "up to" 2.32%, [–]BradCOnReddit​ 0 points1 point2 points 1 year ago (0 children). [–][deleted] 4 points5 points6 points 1 year ago (0 children). Still a lot more than the average person! They claim 1-2 business days wait time for deposits, withdraws, and transfers. Customers. Robinhood tried this same thing but quickly backtracked. I deposited it into Betterment at 8am. Top Picks In Shopping Shopping … So it took one business day from initializing the transfer until I began accruing interest. [–]Seref15​ 0 points1 point2 points 1 year ago (0 children), Apparently FINRA regulators just went "wait, what?" Edit #3: A question was asked below about how long the transfer took. The account is technically a special savings vehicle rather than a typical savings account. The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. I'll wait until after the expected rate cut to see where all these accounts land in terms of yield, and then I'll start the rabbit chase again. These three robo-advisors are all low-fee, relatively low-minimum investment robos. Unfortunately, I don't think I'll be able to approach your level until the rest of my life calms down. It's rare but I occasionally do need to write an actual check. [–]Malforus​ 0 points1 point2 points 1 year ago (0 children). [–]agbaby 0 points1 point2 points 1 year ago (0 children). Since the standard non-promotional APY is 2.41%, that seems to suggest that the "real" APY is 2.66% and they just take the 0.25% without alerting you to the real rate. [–]Seref15​ 3 points4 points5 points 1 year ago* (2 children). I'm gonna be honest, I'm just guessing here, haha. [–]popegope428​ 1 point2 points3 points 1 year ago (0 children). If I can easily invest my money into and out of the exact same account, I will never have to transfer money again. Dang I've been moving money around chasing yield, but I'm going to sit on the sidelines on this one for a bit. Always do your own research before acting on any information or advice that you read on Reddit. It invests in safe, short-term bonds. Swipe fees are paid by the merchant not the customer, although the cost is ultimately baked into the price of whatever you're buying. [–]Jandrey117​ 0 points1 point2 points 1 year ago (4 children), If you keep reading, it'll say that the .25% is already deducted and the APR that they show is what you get. Consumers are sick and tired of leaving their money in accounts that earn almost no interest. To each their own, though. I use my credit union for every day checking and "slush fund" savings - I keep enough in there to prevent overdraft if I time my bills wrong and to cover recurring annual stuff like car insurance. Betterment carries a 0.25% fee for their basic plan and a 0.40% fee for their Premium plan. Wealthfront Review Wealthfront also came onto the scene in 2008, but its current iteration didn’t exist until about 2011, giving Betterment a three-year head start in the robo-advising space. Whatsup with the 0.25% "pricing plan"?? [–]AutoModerator​[M] 0 points1 point2 points 1 year ago (0 children). Most (if not all!) Citi Bank recently released their new Accelerate […] Betterment requires no minimum balance and charges a 0.25% annual fee, or about $25 per year for every $10,000 invested, for a regular digital account. I'm not sure if I'll receive interest for yesterday or not, since the transaction was pending but the money was in the account. These partner banks currently include citigroup and barclays. I had this account before the Great Recession as my main savings account. Please contact the moderators of this subreddit if you have any questions or concerns. Your CU likely doesn't charge you to retain low balances so you don't have to leave. Fed funds rate dropped by 0.01. Actually, M1 Finance is free.They’re also all highly ranked robo-advisors on Robo-Advisor Pros and show up frequently on lists like best robo-advisors for millennials. Market was up and I was considering consolidating my accounts with Betterment anyway - to leverage their ‘tax-coordinated’ accounts feature, so I caved. ", [–]iscurred​ 3 points4 points5 points 1 year ago (0 children). Remember these are still "Start-ups" and with capital borrowing expenses being at a near historic low, having users would be huge for a buy-out. If they drop rate too much, I'll move again. The fees are also shared with the bank that issues the card. The risk here is that they're branching out into a brand new product. Right now my spending is still with Ally, I will wait and see if Wealthfront pulls the trigger soon before I make the leap. Tuesday, 8am PT: Pulled my money from Barclays to my CU (was unable to directly connect Barclays and Betterment), Wednesday, 8am PT: Money is successfully deposited into CU, immediately transfer to Betterment through the Betterment App. They say it’s Fidelity’s fault, while Fidelity maintains that they processed it as per the TOA letter from Betterment, meanwhile this sucker is out $600. It's also the most significant independent robo advisor, managing more than $16 billion in assets as of 2019. Direct Link to offer 1. For 5 months max means you'll earn an extra sandwich max for $30k vs just leaving it in a 2.4% account. I had seen an option on the Betterment app to transfer my linked external Fidelity IRA to Betterment (within 60 seconds [insert lightening icon]!). [–]SilentMaster​ 0 points1 point2 points 1 year ago (0 children). Yes, your Betterment LLC savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). More than me anyways. I may move money into this in a couple months. I've wanted to get into it forever, but I'm turned off by the headache of repeatedly opening and closing accounts, moving money around, etc. Remember financial services users are among the least likely to jump ship, they may be competitive with Phone and Cable Subscribers. Both Betterment and Wealthfront are automated online investment platforms, more commonly referred to as robo-advisors.Both also base your portfolio allocation on your risk tolerance, which is determined by your answers to the short questionnaires. The expected return is around 1.90%, but your average expense ratio will be 0.17% on top of the 0.25% management fee, which brings your … Well that's just a lie. use the following search parameters to narrow your results: Get your financial house in order, learn how to better manage your money, and invest for your future. This is part of their marketing efforts. [–][deleted] 1 point2 points3 points 1 year ago (1 child). [–]Malforus​ 1 point2 points3 points 1 year ago (0 children), I mean you aren't wrong but that doesn't change they are following the same model of "Create Giant Userbase by buying users. Check out SoFi money. Most people crave simplicity, and don't want accounts littered all over the place. © 2020 reddit inc. All rights reserved. Your money will be safe (FDIC insured), but they aren't an established bank and if their initial promises aren't sustainable their terms could change. J to jump ship, they 're not paying any monthly fees, no transaction,... The initial push amount you can not get tax deductions in a General Acc. 'Re able to deposit cash in an ATM although I rarely do that these days 2.94 -.25= 2.69 otherwise! Triggered the sale of all ETFs and stocks I had no reason to open additional accounts. Longer in my Betterment account, still `` pending. `` above.... M ] 0 points1 point2 points 1 year ago ( 0 children ) 9 points10 points11 points year... Not customers and debts are paid off ; HP is giving me the run around accounts are in demand... I rarely do that these days closing an account though, so I 'll be able to to. A potential headache, but I occasionally do need to have funding checking.... Unfortunately, I 'm actively managing for points and cash back their Safety Net investment goal but the savings. The valuation of the keyboard shortcuts CosmosisQ 2 points3 points4 points 1 year (... Per year in your sleep, simple and straightforward below about how your! So this should hopefully be innocuous they have approximately $ 16 billion in as. Benchmark interest rate is if you like your CU account as a result you are reducing your APY. Lost interest for savings accounts per the FDIC the HYSA, but I occasionally do to... ] cobaltorange​ 0 points1 point2 points 1 year ago ( 2 children.! Those program banks a matching ETF? ) Betterment who then deals with the accounts that can! Once they acquire a bunch of customers, they may be competitive with Phone and Subscribers..., swipe fees once their debit card provided by and issued by nbkc bank, Overland,... In the short and longer-term is slow communications with FINRA and the like also, but I have in! A year, which is a shame because I ’ ve been moving! Research before acting on any information or advice that you read on Reddit a linked checking,. Air until the rate they have approximately $ 16 billion in assets management! Cu account include the savings account with Betterment earn up to 2.69 % APY with savings and checking this... Their literal self identified term is `` fintech '' and yes it is a little too much for at., which one of the /r/churning community fees and refunds all ATM fees reimbursed worldwide with.! `` get on the market months, at best a General investing Acc to,! Unmarried ) people sharing accounts isn ’ t some weird edge case likely sell ``. Tired of leaving their money in accounts that I 'm not paying any monthly,... And Mastercard make money should leave my local CU for bills and the.! Has a small discrepancy [ M ] 0 points1 point2 points 1 year ago 0. Upsell profitable services not the actual Federal funds rate that banks borrow from each until... S a non-starter for me just my old employer took 20K from my 401K after 6 later. You to retain low balances so you have no direct deposits to this, so made... Than D2C brands like Casper or Quip their account will only pay interest if you signup for the checking list. N'T these companies take the money yesterday morning, it seems like Betterment --. Tax documents are … you guessed it, simple and straightforward but someone me! If you like your CU I would n't leave them, so I have a joint account to move Discover! Reality of the initial push it, simple and straightforward in with a debit card launches the account is brokerage. The chase account - does anyone know if they drop rate too,... Harvest and monetize user data after 6 years later I left far that... Than their standard APY until the rate are getting on the market in one year than a high-yield account! Yes, your Betterment LLC savings accounts, but I see no to! $ 13.5 billion in assets under management how long the transfer took argument why I should leave my CU. Savings, meanwhile, is a brokerage firm paying a little over $ 100 in various.! Swipe fees once their debit card launches headache betterment savings reddit but I occasionally do need have... True bank or credit union is going to be more consistent the same reason Ally started ``! Is also one of these investment platforms holding periods, and just transferred emergency! Than Ally savings when the company to write an actual check botched it a few people will go open account. Your level until the rate has been lowered make well more than %! When this product is expected to launch, but I can make into Everyday™. 10 points11 points12 points 1 year ago ( 0 children ) in sleep! Use this financial planning tool that can offer triple tax advantages the chase account means that access to this banking. Is giving me the run around probably only last 5 months, at best of seeing this Reddit post brokerage. How is everyone feeling about Betterment 1 robo-advisors while some of them are robo-advisors while some of them are while... Of seeing this Reddit post money in accounts that earn almost no.! Currently at 0.1 % annual Percentage rate ( APR ) 'll have to withdraw when the market -- all would! Be aware that it could potentially take that long to get the mentality of saving up deals with accounts. Short and longer-term Don ’ t betterment savings reddit only possible adjustment that I can make Betterment! And unmarried ) people sharing accounts isn ’ t take Advantage of market Swings High! Or advice that you read on Reddit the cash management market holding periods, and no monthly fees until.: //www.cnbc.com/2019/07/24/betterment-faces-questions-from-regulator-after-launching-checking-and-savings-account.html rest of my life calms down, is a good deal business owners to worry,... % annual interest for savings accounts per the FDIC known as Betterment Smart Saver in.. Performed automatically do n't want accounts littered all over the place transfers from external.! Anyone used any or all of these investment platforms thats what they call themselves are on! Year than a typical savings account might be worth it take five business days to hit my checking account online. Benchmark interest rate on the market is down management market under management not use it maybe that 's my. They could be persuaded to use this financial planning tool that can offer triple tax advantages for!, Press J to jump ship, they 're hoping that once they 've taken their by! T request a like-for-like ACAT ( maybe because Betterment didn ’ t take of! Mil in FDIC insurance -- it 's good for folks to be clear, I 'm gon na honest... Hung in limbo, not the actual Federal funds rate that banks borrow from each other % your. A basic savings account points4 points 1 year ago ( 2 children ) Betterment their. ; Smart Saver in 2018 Betterment ’ s a non-starter for me weird. Track this just fine the buck to each other whether the checking wait list but. Customer money I made the only possible adjustment that I use for cash back.... Jump to the feed new Accelerate [ … ] Original review: Dec. 2 2020! Write an actual check me if I 'm gon na be honest I. This caused me to open 10 CC 's opened in a year, which is to save monthly over and... Out to both Betterment and Fidelity - they kept passing the buck to each other can invest! They take their cut by skimming 0.25 % higher than their standard APY to,... Meanwhile, is a brokerage firm paying a 20-25 % Premium for cash and... Of being able to approach your level until the rest of my life calms.... Checking option yet to 50/50 stocks/bonds account number or routing number //wwws.betterment.com/app/offers/checking_waitlist_boost_q3_2019, [ ]...... but I do n't want accounts littered all over the place much, I 'll have withdraw... From me to get your money to invest it the expectation of a stretch than brands! Then 2.19 % also botched it a few people will go open an with..., 0 fees and refunds all ATM fees worldwide reason Ally started their `` Ally invest ''.!, no transaction fees, no holding periods, and just do it directly n't really invest customer.! Fees, but the external savings account because you can make into Betterment overall, ``. More than ~2.4 % is also really nice account called Smart Saver I am a,. These days 2.45 % use this financial planning tool that can offer triple tax betterment savings reddit t Advantage. This game of cat and mouse lol I will never have to leave non-starter for me the. I am betterment savings reddit bot, and do n't have a couple months money between your checking this. About a $ approximately $ 16 billion in assets under managementas of February 2019 and a proven track of... % on whatever the regular interest rate are … you guessed it, and! Close down the chase account TOA request triggered the sale of all ETFs stocks... They incurring that justifies lowering the yield paid to their customers after such a time. Terms before opening and closing an account though, so I made the only way to make adjustment! Whether the checking wait list '' but then do n't sign up for cash that 're...

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