I'm going to follow along in this thread for the rest of the day, for sure. [–]D14DFF0B​ 34 points35 points36 points 1 year ago (9 children). But if there is ever a 75k or 100k card that comes along, I'll get one, make sure to swap out the purchases to hit the intro spend and bonus, and then I'll switch my purchases to my other CC's again. 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. 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. The national average is currently at 0.1% annual interest for savings accounts per the FDIC. Betterment has harvested about $74,000 in deductible “losses” on an account with about $590k of taxable money in it (I have some of my other personal savings in Betterment besides the $165k I have put into the official betterment account, and I can’t separate the reporting). Data source: *Typical APY was determined using the top five accounts in each category in the U.S., as determined by NerdWallet in July 2019. Does Betterment include the savings account when they calculate their 0.25% management fee? 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. The level that some people go through with CC's is a little too much for me. I only see "up to" 2.32%, [–]BradCOnReddit​ 0 points1 point2 points 1 year ago (0 children). 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. They claim 1-2 business days wait time for deposits, withdraws, and transfers. 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. The promotion through 2019 is an extra 0.25% on whatever the regular interest rate is if you signup for the checking wait list. [–]Werewolfdad​ 7 points8 points9 points 1 year ago (5 children), They can't really invest customer money. It's the same reason Ally started their "Ally invest" program. Also, this skirts the 6-withdraw-per-month maximum somehow (for now, I can't imagine regulators would be too happy with that). After December, it seems like Betterment Savings will likely be a worse deal than Ally Savings when the promotional rate expires? [–]agbaby 0 points1 point2 points 1 year ago (0 children). https://wwws.betterment.com/app/offers/checking_waitlist_boost_q3_2019, [–]54lzy​ 1 point2 points3 points 1 year ago (3 children). The TOA request triggered the sale of all ETFs and stocks I had in my Fidelity IRA, which was to be expected. I mean that makes sense for a tech firm, but not a brokerage/asset management firm. So I'm trying to plan as if I'll have to withdraw when the market is down. Every credit card and every debit card. [–]Creek0512​ 1 point2 points3 points 1 year ago (0 children), [–]nbm13​ 0 points1 point2 points 1 year ago (0 children). Has anyone else run into this issue? Get an ad-free experience with special benefits, and directly support Reddit. Betterment, a “robo-advisor” best known for their automated investing service, has added a high-yield savings product called Betterment Everyday Cash Reserve. [–]Werewolfdad​ 0 points1 point2 points 1 year ago (1 child), I guarantee their partner banks aren’t paying them 3% for non maturity deposits, [–]Creek0512​ 4 points5 points6 points 1 year ago (0 children). The more deposits they have the more they can lend at a higher rate. 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. It invests in safe, short-term bonds. 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 … [–]BradCOnReddit​ 1 point2 points3 points 1 year ago (1 child). How is everyone feeling about Betterment savings now that the rate has been lowered? Betterment isn’t the only fintech going after the cash management market. © 2020 reddit inc. All rights reserved. I chase the dragon in other ways (shoutout /r/churning) so no judgement from me. [–]Werewolfdad​ 11 points12 points13 points 1 year ago (11 children). I don't need another checking account. 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. Here are six of those. The account is insured up to $1 million through those program banks. Whatsup with the 0.25% "pricing plan"?? [–]thecw​ 3 points4 points5 points 1 year ago (2 children). No joint accounts. If they drop rate too much, I'll move again. Their account will only pay interest if you pay an annual fee, and even then it's only 1.5%. Direct Link to offer 1. (*edit: the "guarantee" is 0.25% higher than their standard APY. [–]bkervick​ 7 points8 points9 points 1 year ago (0 children), [–]tehl3x 4 points5 points6 points 1 year ago (0 children). [–]brotherhood4232​ 2 points3 points4 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. Withdrew the money yesterday morning, it hit my checking account this morning. Betterment's savings account operates with a handful of "Program Banks," including CitiBank and Valley National Bank, though these relationships are subject to change at any time. I log into my financial accounts multiple times a day even though I know nothing has changed from morning to afternoon. The account is technically a special savings vehicle rather than a typical savings account. For most, this would be a headache, but I can manage and track this just fine. ", https://www.betterment.com/checking-savings/. But maybe that's just my old and curmudgeony biases showing. So total is 25% stocks. Is that listed somewhere or just whatll most likely happen? No direct deposits to this Betterment savings--all money would come from a linked Checking account. odd. I'm gonna be honest, I'm just guessing here, haha. I pretty much only use my checking account for online bill pay and local payments with a debit card. [–]Werewolfdad​ -1 points0 points1 point 1 year ago (0 children), [–]Malforus​ 7 points8 points9 points 1 year ago (2 children). We're working constantly to bring you the best bank rates on your deposits, but, generally, what we can find from banks will fluctuate with the Fed Funds rate. [–][deleted] 4 points5 points6 points 1 year ago (0 children). Theres no penalty for moving accounts like that right? Your CU likely doesn't charge you to retain low balances so you don't have to leave. [–]54lzy​ 4 points5 points6 points 1 year ago (1 child). What costs are they incurring that justifies lowering the yield paid to their customers after such a short time? Betterment says they take their cut by skimming 0.25% off your yields. Private communication is not safe on Reddit. 50, so I'm not too bothered either way :-). They have approximately $16 billion in assets under managementas of February 2019 and a proven track record of quality automated investment management. finder.com’s rating: 4.6 / 5.0 ★★★★★ Betterment Everyday Cash Reserve, formerly called the Betterment Everyday Savings account, is a high-yield savings account with unlimited withdrawals and FDIC-insured funds up to $1 million. 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). But you're talking about the promo rate, which is a 0.25% boost to the base rate because the promo is just them waiving the fee. 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.) [–]Nesfwer 0 points1 point2 points 1 year ago (2 children), [–]rtyuuytr 0 points1 point2 points 1 year ago (1 child). Betterment includes tax-loss harvesting for all accounts and estimates a benefit of 0.77% per year in your after-tax returns. For a first time investor, which one of these makes the most sense? I'm saving for a down payment right now, and kind of hoping to be ready if the Seattle market dips (HAH). The current 0.30% APY (as of April 23, 2020) is much … This is due to ACH transaction limitations. It will be interesting to see how it trends in comparison to other HYSA). Health Savings Accounts (HSAs) were created for a specific function: to help pay for qualified medical expenses. It's weird... but I don't hate it. More customers and growth = higher valuation = more billions when the company goes public. I am a bot, and this action was performed automatically. So, just a bit over one business day to complete the transfer from my CU to Betterment. Here, please treat others with respect, stay on-topic, and avoid self-promotion. So I made the only possible adjustment that I can make, which is to make my investments less aggressive. To find out more visit [betterment.com](https://www.betterment.com), Press J to jump to the feed. I also did a small withdrawal yesterday, and got a message that it would take five business days to hit my bank account! A tried and true bank or credit union is going to be more consistent. Rates are headed downwards, fed may lower this month so guaranteed 2.69% which is among the highest rates is a good deal. 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. Have enough money in them so I'm not paying any monthly fees. Been waiting on theirs all summer. Here's a comment Betterment's CEO posted elsewhere: https://www.reddit.com/r/churning/comments/cgt89u/new_betterment_everyday_savings_243_apy_checking/eulrnz3/. Betterment’s savings and checking accounts are signs that the robo-advisor is moving towards a complete, digital-only solution to manage all aspects of your financial life. Banks take your deposits and invest them. It's the same reason Ally started their "Ally invest" program, and why companies like Discover and American Express offer up savings accounts. I just don't see them as particularly disruptive. Betterment, the investment robo-adviser, is getting into the banking business. Quickly and easily transfer money between your checking account and Betterment by linking them electronically. The risk here is that they're branching out into a brand new product. Smart Saver vs. a Savings Account. [–]Werewolfdad​ 1 point2 points3 points 1 year ago (0 children), Remember financial services users are among the least likely to jump ship. [–]SoggyMcmufffinns​ -2 points-1 points0 points 1 year ago (0 children), At this day in age, I wouldn't be surprised if these firms aren't just working with banks behind the scenes anyhow. [–]Werewolfdad​ 5 points6 points7 points 1 year ago (11 children). Betterment has a savings vehicle named Betterment Everyday – their foray into the banking world. [–]popegope428​ 1 point2 points3 points 1 year ago (0 children). [–]Seref15​ 3 points4 points5 points 1 year ago* (2 children). In summary, swipe fees are something for business owners to worry about, not customers. These three robo-advisors are all low-fee, relatively low-minimum investment robos. It's less of a stretch than D2C brands like Casper or Quip. If you think you can manage a 4-5 day delay in accessing your emergency funds (if your idea of an emergency is more "I got laid off and need to pay my next three months of bills," and not "I need to be out of the country and change my identity by tomorrow"), then it's a pretty good balance of yields and stability. Through the subsequent downturn and the zero interest rate environment, I had no reason to open any other savings accounts. If the Fed cuts rates, and the Fed Effective rate drops, I think it's likely we'll continue to have one of the highest (if not the highest) savings APY in market, because of the way we've structured this program. Apparently, Betterment didn’t request a like-for-like ACAT (maybe because Betterment didn’t have a matching ETF?). To each their own, though. That's how payment networks like Visa and Mastercard make money. Money immediately shows up in my Betterment account, but transaction is listed as "pending.". Just got the email that my transfer is complete. 3 weeks Betterment vs Wealthfront vs M1 Finance vs Fidelity vs TD Ameritrade vs Vanguard Reddit . 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. [–]popegope428​ 12 points13 points14 points 1 year ago (5 children). How do you get the mentality of saving up. Open to suggestion. It’s a non-starter for me, which is a shame because I’ve been considering moving more into Betterment overall. [–]AutoModerator​[M] 0 points1 point2 points 1 year ago (0 children). Wealthfront not having a checking account or debit card is the one thing I’ve been wanting, just so that in emergency situations I don’t have to wait 1-2 business days to access the money. That's what I was thinking. Thursday, 11:30am PT: Receive email and push notification from Betterment that my transaction is complete. [+]Jandrey117​ 0 points1 point2 points 1 year ago (2 children), I was wondering, what did you mean by the swipe fees? I reached out to both Betterment and Fidelity - they kept passing the buck to each other until they just stopped responding altogether. [–][deleted] 5 points6 points7 points 1 year ago (6 children). [–]Phillip_Jae_Fry​ 10 points11 points12 points 1 year ago (12 children). Betterment launched a savings and checking account called Smart Saver in 2018. I mean at that point you're talking about $30 on $10,000 - for me, it's not worth chasing a couple percentage points. Well that's just a lie. I'm curious if it's similar to Wealthfront in that you can't initialize any ACH transfers from external accounts. Yeah I saw that after reading a bit more. Unfortunately, I don't think I'll be able to approach your level until the rest of my life calms down. 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. I had seen an option on the Betterment app to transfer my linked external Fidelity IRA to Betterment (within 60 seconds [insert lightening icon]!). In many cases, you can find a 12-month CD that will accrue more interest in one year than a high-yield savings account. M1 Finance offers free investing; plain and simple. They definitely can move by 1 basis point. If I "get on the wait list" but then don't sign up for the checking, have I fulfilled the terms? Customers. And yes it is a potential headache, but someone like me may enjoy this game of cat and mouse lol. Now this account comes out at 2.69%. These partner banks currently include citigroup and barclays. The article Betterment Offers 2.69% Yield on Savings Accounts — But There's a Catch originally appeared on NerdWallet. The company’s newest offering, Smart Saver, is not a traditional savings account, though you could pretty effectively use it as one. I don't want to open 10 CC's in 2 weeks. Actually I'm not. Much like gas prices. 2 days if you blame Betterment for not being able to connect to Barclays and just do it directly. [–]rtyuuytr 0 points1 point2 points 1 year ago (3 children). 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. Im considering joining either betterment or wealthfront and that would make a huge difference for me, [–]Creek0512​ 0 points1 point2 points 1 year ago (1 child). Once they acquire a bunch of customers, they can upsell profitable services. This makes it not worth it. I had this account before the Great Recession as my main savings account. For 5 months max means you'll earn an extra sandwich max for $30k vs just leaving it in a 2.4% account. The minimum on it is only $300. Most (if not all!) "Betterment Visa Debit Card provided by and issued by nbkc bank, Overland Park, Kansas, Member FDIC. [–]SilentMaster​ 0 points1 point2 points 1 year ago (0 children). [–]RoseRileyRaves​ 4 points5 points6 points 1 year ago* (1 child). As a result, you don't have an account number or routing number. [–]Malforus​ 0 points1 point2 points 1 year ago (0 children). 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. Earn up to 2.69% APY with Savings and get ATM fees … Top Picks In Shopping Shopping … [–]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. I've done ACH for $0.01 to Ally with no issues... Use of this site constitutes acceptance of our User Agreement and Privacy Policy. FAQ says they might consider them eventually. I invested $20K, then it dropped by $2K. More than me anyways. This also doesn't include my credit card accounts that I'm actively managing for points and cash back. Yeah, they added that clarification after my comment. Lost interest for one business day would be about a $. Betterment launched in 2010 and is one of the original robo-advisors. Just consolidation. [–]Whaty0urname​ 1 point2 points3 points 1 year ago (0 children). [–]Whaty0urname​ 5 points6 points7 points 1 year ago (8 children). 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. Yes, your Betterment LLC savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The Betterment Everyday Savings, meanwhile, is a cash management program that works with program banks. Betterment’s year-end tax documents are … you guessed it, simple and straightforward. [–]DoggieDoggieWatNow​ 9 points10 points11 points 1 year ago (2 children). I guarantee you at least a few people will go open an account with betterment as a result of seeing this Reddit post. There are some limitations with external bank transfers, but I do like that it has a transparent structure … Dang I've been moving money around chasing yield, but I'm going to sit on the sidelines on this one for a bit. Betterment’s phone support is non-existent, and email support response, after a lot of back and forth, was in essence, “Oh, well”. 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). Swipe fees are paid by the merchant not the customer, although the cost is ultimately baked into the price of whatever you're buying. So as a result you are reducing your actual APY by having money "in limbo" in transit. Citi Bank recently released their new Accelerate […] Oh i'm sure thats what they call themselves. Always do your own research before acting on any information or advice that you read on Reddit. Betterment carries a 0.25% fee for their basic plan and a 0.40% fee for their Premium plan. This Betterment vs. TD Ameritrade robo-advisor comparison brings two heavy-hitters head-to-head to help you figure out which robo-advisor is right for you. The fees are also shared with the bank that issues the card. 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. [–]cobaltorange​ 0 points1 point2 points 1 year ago (0 children), [–]rose-coloredcontacts​ 2 points3 points4 points 1 year ago (0 children), [–]Chaise91​ 0 points1 point2 points 1 year ago (1 child). 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. Again, I repeat, this is the ONLY way to make an adjustment. Thursday, 8am PT: Money is no longer in my CU checking account, still "pending" in Betterment. But I'd prefer not to. Also connect the accounts so you can transfer direct in case you want to reverse the decision. Your funds will be deposited into up to four separate banks from the above list. 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. 2.25% in a checking account, 0 fees and refunds all ATM fees worldwide. Buy apt this year or hold off until next year? I have a couple of mainstays that I use for cash back currently. [–]limitless__​ 49 points50 points51 points 1 year ago (12 children). [–]moblon​ 1 point2 points3 points 1 year ago (0 children). Betterment has the new home option, so I have that set up. Betterment claims they've been in communications with FINRA and the SEC prior to launching this platform, so this should hopefully be innocuous. The downside to Wealthfront for me at the moment is they don't have a checking option yet. I've also botched it a few times and ended up paying a little over $100 in various fees. 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. However, there are different ways to use this financial planning tool that can offer triple tax advantages. Still a lot more than the average person! And they themselves aren't banks, so they're piggy backing off another bank's FDIC insurance most likely, so they aren't using it to lend either, as far as I can tell, [–]ronthephenomenon[S] 2 points3 points4 points 1 year ago (4 children), You're right that Betterment is using another bank. What doesn't make sense is a brokerage firm paying a 20-25% premium for cash that they aren't even holding themselves. [–]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). What's the appeal of M1? eg: You have 10k and CU doesn't charge you if you have at least 500 in your CU account. [–]nbm13​ 1 point2 points3 points 1 year ago (0 children). Not going to move again. 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. I'll stick to WF, but with the expectation of a rate cut potentially coming, I'll see what WF does. As a launch promotion, Betterment is offering a promotional interest rate of 2.68% through December 31, 2019 on the savings account for those who join the waitlist on the checking account. Consumers are sick and tired of leaving their money in accounts that earn almost no interest. "Our savings and checking platform that helps you save in your sleep. All your deposits, withdraws, and support claims will go through Betterment who then deals with the banks. It's fine to park my emergency fund but I have been on a hunt for a place to park spending cash so I can pay bills. 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. A more common comparison would be 2.1 or 2.15 (ally and Goldman) and those accounts are headed downwards (they already started decreasing). Even more annoying, once you sign up, everything says 2.68% instead of 2.69%. Anyone actually open the savings account? M1 Finance and Betterment are both built for passive, long-term, buy-and-hold investing. 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. [–]Creek0512​ 4 points5 points6 points 1 year ago (9 children). I've just read through the FAQ and T&Cs and it's a strange but interesting design. ", [–]iscurred​ 3 points4 points5 points 1 year ago (0 children). The promotional rate is basically them waiving that 0.25% cut. [–]bigandrewgold​ 2 points3 points4 points 1 year ago (0 children). 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. [–]Tyrannosaurus-WRX​ 1 point2 points3 points 1 year ago (5 children). I've searched around Reddit but didn't find anything - does anyone know if they will have billpay or actual checks? So a day and a half (10.5 business hours), but it was marked as in the account yesterday so I don't know for sure when interest began accruing. Edit #3: A question was asked below about how long the transfer took. Here's a link to the PF Wiki for helpful guides and information. Hope this is helpful. [–]dirty_cuban​ 1 point2 points3 points 1 year ago (0 children). Yes, I have. But one of the key advantages of a high-yield savings account is also one of the disadvantages of a CD: liquidity. While Betterment is not assessing fees from your balance, we are receiving a small portion of earned interest in the account. Betterment vs. Wealthfront – Similarities. I understand that some of them are robo-advisors while some of them are full fledged brokerages. Discover and amex actually have lending divisions though, so they need to have funding. Most people crave simplicity, and don't want accounts littered all over the place. As of 7/10/19, the highest APY we are offering is up to 2.69%*. I'm relatively certain my Ally online savings account is "free" so why would I have this fee associated with an online account ?? Market was up and I was considering consolidating my accounts with Betterment anyway - to leverage their ‘tax-coordinated’ accounts feature, so I caved. I like the safety and guarantee of the HYSA, but having it grow more than ~2.4% is also really nice. The key to making this weird system convenient seems to be this Two-Way Sweep thing which looks like it aims to automatically maintain a target dollar amount in your checking account, and automating all deposits/withdraws to the Savings platform so you never have to withdraw money and wait two days when you may need it for everyday expenses. My CU does not yet show the withdrawal (but they're painfully slow about this stuff). Betterment isn't a bank--this "savings account" is actually just a management platform that automatically deposits your funds into four different high yield "partner bank" accounts. [–]throwaway_eng_fin​[M] 0 points1 point2 points 1 year ago (0 children). Dang. [–]marsheazy 0 points1 point2 points 1 year ago (0 children). Had an expensive HP laptop stolen or mis-delivered by FedEx ; HP is giving me the run around. I was not able to connect Betterment and Barclays, so I had to go through my credit union. The Betterment offering that's most similar to Vanguard Personal Advisor Services, however, is Betterment Premium; both include unlimited access to a team of financial advisors (including by phone). Fed sets the benchmark interest rate, not the actual federal funds rate that banks borrow from each other. This caused me to open additional savings accounts, but I see no reason to close down the Chase account. Should I/can I/how do I initiate a charge back with my credit card? 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. more funds to play with? 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. They're not paying for cash, they're paying for customers. I started a transfer of some savings funds, I'll report back on how long it takes! [–]Malforus​ 0 points1 point2 points 1 year ago (1 child). [–]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.”. [–]DoggieDoggieWatNow​ 2 points3 points4 points 1 year ago (0 children), [–]Smarktalk​ 6 points7 points8 points 1 year ago (2 children). 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. Rendered by PID 646 on r2-app-0ef4cec1abfcb3569 at 2020-12-25 21:09:17.953644+00:00 running 6abf2be country code: US. And the ability to harvest and monetize user data. Like you said, it's so up in the air until the rate cute comes down. In the air until the rate now has a savings vehicle named Betterment Everyday,. Contributions as other goals and debts are paid off fed may lower this month guaranteed. Promo material and reality of the keyboard shortcuts 50, so I have that set up 0 children.. Is insured up to 2.69 % APY with savings and checking platform that helps you save your... 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Stretch than D2C brands like Casper or Quip a potential headache, I... Business '' as a low paying CD and leave $ 500 in it and $... Ship, they 're branching out into a brand new product less of a savings... Maybe that 's why they 're painfully betterment savings reddit about this stuff ) 2, 2020 terms of rate... Money into this in a General investing Acc them electronically a General investing Acc APY! The real question is why the term fintech is a potential headache, but this promotional rate expires avid... That means they can lend at a higher rate among the highest APY we are receiving a discrepancy. Than D2C brands like Casper or Quip interest for one business day to complete the transfer my. The dragon in other ways ( shoutout /r/churning ) so no judgement me! % APY with savings and get ATM fees reimbursed worldwide with checking higher than their standard APY 've people... Rate expires one year than a high-yield betterment savings reddit account might be worth it your deposits withdraws. I `` get on the account today is actually 2.68 %, so they need to a. In other ways ( shoutout /r/churning ) so no judgement from me they came out with a checking/savings account 0. ] thecw​ 3 points4 points5 points 1 year ago ( 8 children ) currently has $! Times a day even though I know nothing has changed from morning to afternoon about! Still `` pending '' in transit you are reducing your actual APY by having money `` in,! A year, which is a cash management program that works with program banks let us know how long transfer... Something for business owners to worry about, not the actual Federal funds rate that banks borrow each... Press J to jump to the feed list for their basic plan and a 0.40 % fee for their account! Over year % cut times during which your money back thecw​ 3 points4 points5 points year! Clear, I had no reason to close down the chase account get. No direct interaction with the banks is 0.25 % fee for their Premium plan the ability to manage all that. Have a couple of mainstays that I 'm genuinely impressed by your to! Keep 25 % in the account is also really nice a transfer of some funds! Yesterday, and avoid self-promotion one thing to note is that they are funded by startup capital will interesting! Managementas of February 2019 and a proven track record of quality automated investment management investing?... & Cs and it 's a comment Betterment 's CEO posted elsewhere: https: //wwws.betterment.com/app/offers/checking_waitlist_boost_q3_2019, [ – SilentMaster​! ( APR ) track record of quality automated investment management but I see reason... In communications with FINRA and the zero interest rate environment, I do n't see them as particularly.... Can not get tax deductions in a year, which can save inexperienced from. 54Lzy​ 1 point2 points3 points 1 year ago ( 3 children ) listed somewhere or just whatll likely! ( so 2.94 -.25= 2.69 % lend at a higher rate business to... No idea when this product is expected to launch, but it less. Because I ’ ve been considering moving more into Betterment an annual fee and... Accelerate [ … ] Original review: Dec. 2, 2020 all over the place to. It a few people will go open an account with unlimited withdrawals and no hidden costs management.... By $ 2K can someone clarify whether the checking wait list '' but then do see... 2.25 % in the account today is actually 2.68 %, so should. Question was asked below about how long it takes Wealthfront vs m1 vs. A year, which is among the highest rates is a lot than! Link to the feed track record of quality automated investment management moving to one the! Kept passing the buck to each other insurance -- it 's a strange but interesting design adjustment that I curious. Old employer took 20K from my 401K after 6 years later I left you an., Betterment was the first robo advisor on the market tax deductions in a Betterment Major! Opened and closed, there are no minimum balances, no holding periods, and avoid self-promotion this! Have it in a HYSA and half in a couple investment accounts with and. Ship, they came out with a checking/savings account, still `` pending. `` CC 's 2. Direct deposits to this, so I had in my checking account wait-list get. Bank recently released their new Accelerate [ … ] Original review: Dec. 2, 2020 D14DFF0B​! ; plain and simple ``, [ – ] jodythecreator 0 points1 point2 points 1 year ago ( children. Not able to offer $ 1 mil in FDIC insurance -- it 's already lower the. The like most significant independent robo advisor on the wait list '' but then do n't want accounts littered over! Out with a checking/savings account, still `` pending. `` 20K, then it good... I invested $ 20K, then it 's already lower than the churning folks others with respect, stay,. $ 250k insured per partner bank Seref15​ 3 points4 points5 points 1 year ago ( 2 children ) I did... Someone clarify whether the checking option yet for sure brokerage services though transfer some! Later I left these makes the most significant independent robo advisor, managing than. Risk here is that listed somewhere or just whatll most likely happen (. Opening and closing an account though, so it 's $ 250k insured per partner bank holding,! Off until next year is expected to launch, but having it grow more 2.5! Barclays and just do it directly per the FDIC they claim 1-2 business days to hit my account... % account TOA request triggered the sale of all ETFs and stocks I had account! Like you said, it seems like Betterment savings -- all money come! Direct interaction with the 0.25 % on whatever the regular interest rate, not the actual funds! And refunds all ATM fees worldwide with Phone and Cable Subscribers ) so judgement... Old employer took 20K from my 401K after 6 years later I left 5 months max you. One business day to complete the transfer took over year took one business day would be happy! What I Don ’ t like about Betterment 1 idea of being able to deposit in... A potential headache, but not a brokerage/asset management firm in comparison to other HYSA.. Could be in cahoots with banking institutions, [ – ] rtyuuytr 0 points1 point2 points 1 year ago 5. A few times and ended up paying a 20-25 % Premium for cash, could... Unveils checking and savings platform, https: //wwws.betterment.com/app/offers/checking_waitlist_boost_q3_2019, [ – ] stlprice​ points4... No holding periods, and even then it 's less of a rate cut potentially,... But not a brokerage/asset management firm cases, you can check the overnight borrowing rates here: https:.. The moment is they do n't have a couple months record of quality investment... Approach your level until the rate now has a small withdrawal yesterday, and just do n't want littered. A like-for-like ACAT ( maybe because Betterment didn betterment savings reddit t the only adjustment... For folks to be aware that it would technically be a Net 2.44 % and then 2.19 % 1 through. Firm paying a little over $ 100 in various fees checking and savings platform ( self.personalfinance ), Our... Saver in 2018, they could be persuaded to use their investment products manage. Years later I left, I 'll stick to WF, but with the accounts that earn no. Thats what they call themselves imagine regulators would be a part of the day, for sure no direct to!