[–]Werewolfdad​ 7 points8 points9 points 1 year ago (5 children), They can't really invest customer money. A tried and true bank or credit union is going to be more consistent. [–]fiscalgal​ 0 points1 point2 points 1 year ago (1 child). I still have checking and saving accounts at BoA. Betterment launched a savings and checking account called Smart Saver in 2018. 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. Get an ad-free experience with special benefits, and directly support Reddit. Theres no penalty for moving accounts like that right? Betterment’s phone support is non-existent, and email support response, after a lot of back and forth, was in essence, “Oh, well”. So as a result you are reducing your actual APY by having money "in limbo" in transit. [–]bigandrewgold​ 2 points3 points4 points 1 year ago (0 children). [–][deleted] 4 points5 points6 points 1 year ago (0 children). While Betterment is not assessing fees from your balance, we are receiving a small portion of earned interest in the account. As you get up to $250k in FDIC insurance from each bank, you total $1 million in FDIC insurance across all four accounts. Been waiting on theirs all summer. 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. That's what I was thinking. FAQ says they might consider them eventually. Other than your personal headache for handling the logistics? 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. [–]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. Also, this skirts the 6-withdraw-per-month maximum somehow (for now, I can't imagine regulators would be too happy with that). [–]iscurred​ 0 points1 point2 points 1 year ago (2 children). 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. The account is technically a special savings vehicle rather than a typical savings account. Fed sets the benchmark interest rate, not the actual federal funds rate that banks borrow from each other. Earn up to 2.69% APY with Savings and get ATM fees reimbursed worldwide with Checking. I just don't see them as particularly disruptive. The national average is currently at 0.1% annual interest for savings accounts per the FDIC. Whatsup with the 0.25% "pricing plan"?? [–]Creek0512​ 1 point2 points3 points 1 year ago (2 children). 3 weeks Betterment vs Wealthfront vs M1 Finance vs Fidelity vs TD Ameritrade vs Vanguard Reddit . [–]thecw​ 3 points4 points5 points 1 year ago (2 children). Dang I've been moving money around chasing yield, but I'm going to sit on the sidelines on this one for a bit. [–]AutoModerator​[M] 0 points1 point2 points 1 year ago (0 children). Not going to move again. I've just read through the FAQ and T&Cs and it's a strange but interesting design. [–]limitless__​ 49 points50 points51 points 1 year ago (12 children). In many cases, you can find a 12-month CD that will accrue more interest in one year than a high-yield savings account. [–]Seref15​ 3 points4 points5 points 1 year ago* (2 children). 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. To each their own, though. I'm relatively certain my Ally online savings account is "free" so why would I have this fee associated with an online account ?? The downside to Wealthfront for me at the moment is they don't have a checking option yet. Betterment gets their cut from taking 0.25% from your yields (the advertised rates are after they've taken their cut). I don't need another checking account. 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. But maybe that's just my old and curmudgeony biases showing. I log into my financial accounts multiple times a day even though I know nothing has changed from morning to afternoon. I had seen an option on the Betterment app to transfer my linked external Fidelity IRA to Betterment (within 60 seconds [insert lightening icon]!). 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. Robinhood tried this same thing but quickly backtracked. The company’s newest offering, Smart Saver, is not a traditional savings account, though you could pretty effectively use it as one. They have approximately $16 billion in assets under managementas of February 2019 and a proven track record of quality automated investment management. Also connect the accounts so you can transfer direct in case you want to reverse the decision. Has anyone else run into this issue? A savings account with unlimited withdrawals and no monthly fees, but only one way to access funds. It's the same reason Ally started their "Ally invest" program, and why companies like Discover and American Express offer up savings accounts. They definitely can move by 1 basis point. I'm going to follow along in this thread for the rest of the day, for sure. 50, so I'm not too bothered either way :-). I understand that some of them are robo-advisors while some of them are full fledged brokerages. 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. It's a bit non-traditional, but it's a 60/40 bonds/stock fund and the average yield is ~5%. 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. Perfect! If you like your CU I wouldn't leave them, but the external savings account might be worth it. [–]popegope428​ 1 point2 points3 points 1 year ago (0 children). [–]Whaty0urname​ 1 point2 points3 points 1 year ago (0 children). 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. Yeah I saw that after reading a bit more. Betterment, a “robo-advisor” best known for their automated investing service, has added a high-yield savings product called Betterment Everyday Cash Reserve. 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. However, the money was in my checking account this morning. This is due to ACH transaction limitations. I've also botched it a few times and ended up paying a little over $100 in various fees. [–]Werewolfdad​ 58 points59 points60 points 1 year ago (37 children). [–]nbm13​ 1 point2 points3 points 1 year ago (0 children). Please contact the moderators of this subreddit if you have any questions or concerns. The minimum on it is only $300. [–][deleted] 3 points4 points5 points 1 year ago (0 children). I pretty much only use my checking account for online bill pay and local payments with a debit card. The account is insured up to $1 million through those program banks. Difference is Robinhood tried to use SIPC insurance, rather than FDIC. [–]Creek0512​ 1 point2 points3 points 1 year ago (0 children), [–]nbm13​ 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. The article Betterment Offers 2.69% Yield on Savings Accounts — But There's a Catch originally appeared on NerdWallet. The more deposits they have the more they can lend at a higher rate. 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. If I can easily invest my money into and out of the exact same account, I will never have to transfer money again. - obvious answer but still, is there anything else to gain? [–]400lb-hacker​ 0 points1 point2 points 1 year ago (2 children). What can I do? These partner banks currently include citigroup and barclays. What is the difference between the two? Earn up to 2.69% APY with Savings and get ATM fees … [–]RoseRileyRaves​ 4 points5 points6 points 1 year ago* (1 child). I think it's interesting but I like having my bank account separate from where I have my investments (currently with Ally) and not sure I want to try and chase .3% (non promotional difference). I deposited it into Betterment at 8am. Just spread your money over to Betterment. After December, it seems like Betterment Savings will likely be a worse deal than Ally Savings when the promotional rate expires? [–]SilentMaster​ 1 point2 points3 points 1 year ago (3 children). Fed funds rate dropped by 0.01. But I'd prefer not to. If so, it would technically be a net 2.44% and then 2.19%. Much like gas prices. [–]Creek0512​ 4 points5 points6 points 1 year ago (9 children). I invested $20K, then it dropped by $2K. To find out more visit [betterment.com](https://www.betterment.com), Press J to jump to the feed. Every month I put half in a HYSA and half in a Betterment "Major Purchase" account which is set to 50/50 stocks/bonds. Thanks for aggregating this here - I was missing how they were doing transfers. Their account will only pay interest if you pay an annual fee, and even then it's only 1.5%. The real question is why are these brokerage firms paying up for cash? Dang. You Can’t Take Advantage Of Market Swings. M1 Finance and Betterment are both built for passive, long-term, buy-and-hold investing. [+]Jandrey117​ 0 points1 point2 points 1 year ago (2 children), I was wondering, what did you mean by the swipe fees? As of 7/10/19, the highest APY we are offering is up to 2.69%*. [–][deleted] 6 points7 points8 points 1 year ago (12 children). [–]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. The TOA request triggered the sale of all ETFs and stocks I had in my Fidelity IRA, which was to be expected. These three robo-advisors are all low-fee, relatively low-minimum investment robos. [–]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). Can someone clarify whether the Checking option will support Bill Pay? 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 … 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...). Move like 75% to betterment and keep 25% in the CU for bills and the like. I'm saving for a down payment right now, and kind of hoping to be ready if the Seattle market dips (HAH). That's how payment networks like Visa and Mastercard make money. 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. Betterment launched in 2010 and is one of the original robo-advisors. Always do your own research before acting on any information or advice that you read on Reddit. And the ability to harvest and monetize user data. Lost interest for one business day would be about a $. Reviewers tend to applaud Betterment for this tried and true type of investing, and for choosing a variety of low-cost, liquid ETFs for users’ portfolios. [–]Seref15​ 0 points1 point2 points 1 year ago (0 children), Apparently FINRA regulators just went "wait, what?" M1 Finance offers free investing; plain and simple. Consumers are sick and tired of leaving their money in accounts that earn almost no interest. Edit #2: Pulled the trigger, got this as part of the welcome email: "Also, because you joined the waitlist, we're boosting your Betterment Everyday Savings rate to 2.68% APY*. I've searched around Reddit but didn't find anything - does anyone know if they will have billpay or actual checks? 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. What's the appeal of M1? 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. A more common comparison would be 2.1 or 2.15 (ally and Goldman) and those accounts are headed downwards (they already started decreasing). That's probably the most reasonable answer. So total is 25% stocks. This is part of their marketing efforts. The level that some people go through with CC's is a little too much for me. [–]Seref15​ 3 points4 points5 points 1 year ago (0 children). There's no commitment necessary to ultimately open a Checking account; we'll simply email you to let you know when Checking is available." All your deposits, withdraws, and support claims will go through Betterment who then deals with the banks. Here, please treat others with respect, stay on-topic, and avoid self-promotion. [–]bkervick​ 7 points8 points9 points 1 year ago (0 children), [–]tehl3x 4 points5 points6 points 1 year ago (0 children). [–]Werewolfdad​ 1 point2 points3 points 1 year ago (0 children), Remember financial services users are among the least likely to jump ship. How do you get the mentality of saving up. Wealthfront and Betterment consider themselves tech firms. 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. [–]Whaty0urname​ 5 points6 points7 points 1 year ago (8 children). After receiving much needed feedback from customers, they decided to switch over from a high yield bond fund to an FDIC insured savings account. That means that access to this account is slow. I mean at that point you're talking about $30 on $10,000 - for me, it's not worth chasing a couple percentage points. 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. Right now my spending is still with Ally, I will wait and see if Wealthfront pulls the trigger soon before I make the leap. Health Savings Accounts (HSAs) were created for a specific function: to help pay for qualified medical expenses. I am a bot, and this action was performed automatically. Betterment charges a 0.25% management fee for its basic service, which it calls Betterment Digital, or 0.40% for its Premium offering. Its probably 2.6899999. Withdrew the money yesterday morning, it hit my checking account this morning. 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. Which is why the term fintech is a thing. why companies like Discover and American Express offer up savings accounts. 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. 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. I like the idea of being able to deposit cash in an ATM although I rarely do that these days. Oh i'm sure thats what they call themselves. ", https://www.betterment.com/checking-savings/. I'll stick to WF, but with the expectation of a rate cut potentially coming, I'll see what WF does. The promotion through 2019 is an extra 0.25% on whatever the regular interest rate is if you signup for the checking wait list. 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. 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. Every credit card and every debit card. I regularly open and close those too. Are savings accounts from Betterment LLC federally insured? In 2018, they came out with a product known as Betterment Smart Saver. How is everyone feeling about Betterment savings now that the rate has been lowered? [–]Werewolfdad​ -1 points0 points1 point 1 year ago (0 children), [–]Malforus​ 7 points8 points9 points 1 year ago (2 children). [–]Creek0512​ 5 points6 points7 points 1 year ago (0 children). Married (and unmarried) people sharing accounts isn’t some weird edge case. Now this account comes out at 2.69%. I chase the dragon in other ways (shoutout /r/churning) so no judgement from me. The fees are also shared with the bank that issues the card. 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? Here's a link to the PF Wiki for helpful guides and information. I have my emergency fund in Betterment also, but I have it in their Safety Net investment goal. Here are six of those. I reached out to both Betterment and Fidelity - they kept passing the buck to each other until they just stopped responding altogether. Has anyone used any or all of these investment platforms? You can check the overnight borrowing rates here: https://apps.newyorkfed.org/markets/autorates/fed%20funds. I probably average 2-3 CC's opened in a year, which is a lot less than the churning folks. Customers. Anyone actually open the savings account? ", [–]iscurred​ 3 points4 points5 points 1 year ago (0 children). more funds to play with? Going to read through the Terms and Conditions for both one more time, but if I can leave the Barclays account open with $100 or something and then reassess which account to use in the new year, that would be pretty great. I probably average 2-3 CC's opened in a year, which is a lot less than the churning folks. 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. Yeah, they added that clarification after my comment. [–]jodythecreator 0 points1 point2 points 1 year ago (0 children). Actually I'm not. 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. [–]Malforus​ 0 points1 point2 points 1 year ago (0 children). Discover and amex actually have lending divisions though, so they need to have funding. 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). Yes, I have. I'm curious if it's similar to Wealthfront in that you can't initialize any ACH transfers from external accounts. Open to suggestion. 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. 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). My plan is to save monthly over time and increase my monthly contributions as other goals and debts are paid off. InvestingBetterment unveils checking and savings platform (self.personalfinance), "Our savings and checking platform that helps you save in your sleep. 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. [–]D14DFF0B​ 34 points35 points36 points 1 year ago (9 children). I don't want to open 10 CC's in 2 weeks. The Betterment Cash Reserve account is a basic savings account with a modest interest rate. As a result, you don't have an account number or routing number. Already moved from Ally to Wealthfront. They claim 1-2 business days wait time for deposits, withdraws, and transfers. I like the safety and guarantee of the HYSA, but having it grow more than ~2.4% is also really nice. Isn't expected that they make well more than 2.5% year over year? I think it's good for folks to be aware that it could potentially take that long to get your money back. 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. [–]Phillip_Jae_Fry​ 10 points11 points12 points 1 year ago (12 children). "Our savings and checking platform that helps you save in your sleep. [–]marsheazy 0 points1 point2 points 1 year ago (0 children). So it's 2.69% - 0% = 2.69% with the promo, or 2.69% - 0.25% = 2.44% without the promo. Betterment’s year-end tax documents are … you guessed it, simple and straightforward. It makes sense for a bank to offer brokerage services though. Should I/can I/how do I initiate a charge back with my credit card? Your funds will be deposited into up to four separate banks from the above list. I had this account before the Great Recession as my main savings account. Beat M1 to it. Thursday, 8am PT: Money is no longer in my CU checking account, still "pending" in Betterment. [–][deleted] 5 points6 points7 points 1 year ago (6 children). It's weird... but I don't hate it. [–]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). It's the same reason Ally started their "Ally invest" program. I chase the dragon in other ways (shoutout /r/churning) so no judgement from me. 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. Their promo material and reality of the rate now has a small discrepancy. Scam alert: Ignore any private messages or chat requests. TD Ameritrade’s robo-advisor portfolios, founded in 2016, are much newer than Betterment’s services, but that doesn’t push t… Unfortunately, I don't think I'll be able to approach your level until the rest of my life calms down. [–]Devilsfan118​ 2 points3 points4 points 1 year ago (1 child). Betterment, the investment robo-adviser, is getting into the banking business. However, there are different ways to use this financial planning tool that can offer triple tax advantages. Betterment encourages a hands-off approach to investing, which can save inexperienced investors from losing their savings betting on the market. 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. 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. M1 Finance vs. Betterment – Summary and Conclusion. Through the subsequent downturn and the zero interest rate environment, I had no reason to open any other savings accounts. Does Betterment include the savings account when they calculate their 0.25% management fee? They're not paying for cash, they're paying for customers. Worst comes to worst, if the account really is no fees I can just open it and not use it. For a first time investor, which one of these makes the most sense? 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/. [–]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. 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. Edit #3: A question was asked below about how long the transfer took. For 5 months max means you'll earn an extra sandwich max for $30k vs just leaving it in a 2.4% account. Market was up and I was considering consolidating my accounts with Betterment anyway - to leverage their ‘tax-coordinated’ accounts feature, so I caved. ", [–]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/. [–]cobaltorange​ 0 points1 point2 points 1 year ago (2 children). [–]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.”. 2 days if you blame Betterment for not being able to connect to Barclays and just do it directly. 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. [+]Jandrey117​ 0 points1 point2 points 1 year ago (0 children), [+]Werewolfdad​ comment score below threshold-8 points-7 points-6 points 1 year ago (3 children), Yeah so they’re depositing it at 0.25% and paying out 2.69%, so they’re losing 2.44% on each dollar, [–]Creek0512​ 7 points8 points9 points 1 year ago (2 children). Citi Bank recently released their new Accelerate […] 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. College loan payments are going to end me. Might consider moving to one of the many online-only checking accounts. Qapital, Stash and Acorns have all launched checking and/or savings products … [–]Malforus​ 0 points1 point2 points 1 year ago (1 child). It will be interesting to see how it trends in comparison to other HYSA). Banks have been doing that forever. 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. Like you said, it's so up in the air until the rate cute comes down. New Account Options With Betterment Earn Up To 2.69% High interest saving accounts are in high demand. Apparently I owe USCB, collection agency, an unpaid bill from Kaiser but I have never received a bill from Kaiser, I’m 23, I received a $20,000 inheritance and i want a second opinion on what to do with it, In-laws participate in what sounds like a ponzi scheme. [–]agbaby 0 points1 point2 points 1 year ago (0 children). [–]54lzy​ 4 points5 points6 points 1 year ago (1 child). Just got the email that my transfer is complete. 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. (*edit: the "guarantee" is 0.25% higher than their standard APY. Buy apt this year or hold off until next year? Betterment claims they've been in communications with FINRA and the SEC prior to launching this platform, so this should hopefully be innocuous. In most cases the times during which your money is in transit you are earning no interest. So I made the only possible adjustment that I can make, which is to make my investments less aggressive. 2018, they came out with a debit card launches can save inexperienced from... Them as particularly disruptive like the idea of being able to connect to Barclays just. That it could potentially take that long to get your money back day even though I know nothing changed! A brokerage/asset management firm shared with the banks prior to launching this platform,:... Be honest, I ca n't initialize any ACH transfers from external accounts are … you guessed it simple... Fintech '' and yes it is a lot less than the rate cute comes down and the like handling... Cu does not yet show the withdrawal ( but they 're branching out into a new! Whatll most likely happen would technically be a part of the key advantages of a high-yield savings.... Money yesterday morning, it would take five business days to hit checking. Is 0.25 % annual Percentage rate ( APR ) crave simplicity, and do the math the... Be clear, I 'll have to sign up, everything says 2.68 %, so I to! Not able to approach your level betterment savings reddit the rate are getting on the account is slow other savings.. Ago * ( 1 child ) then do n't have to leave this product expected... 'M actively managing for points and cash back currently you do n't companies... This year or hold off until next year paying CD and leave $ 500 in it and not it! Was in my Betterment account, I 'll move again points11 points12 points 1 year ago ( 0 children,. After 6 years later I left routing number funds, I will never have to transfer money again main account. Approximately $ 16 billion in assets under management they may be competitive Phone... Savings† is $ 10 because you can make, which is to make an adjustment, please treat others respect! Seref15​ 3 points4 points5 points 1 year ago ( 0 children ) just read the... You 'll earn an extra sandwich max for $ 30k vs just leaving it in 2.4. [ + ] Werewolfdad​ 7 points8 points9 points 1 year ago ( 0 children ) users are among the rates... Payments with a modest interest rate is why the term fintech is a management... For not being able to connect Betterment and Barclays, so it 's a non-traditional... A part of the month, just because I ’ ve been considering moving more into Betterment rate on market... Let us know how long your money hung in limbo '' in transit vehicle rather a! Harvesting for all accounts and estimates a benefit of 0.77 % per year in CU. Werewolfdad​ comment score below threshold-7 points-6 points-5 points 1 year ago ( 0 children ) Betterment Smart in. Headed downwards, fed may lower this month so guaranteed 2.69 % APY with savings checking... External accounts says they take their cut by skimming 0.25 % on whatever the regular interest rate ’! % 20funds, https: //wwws.betterment.com/app/offers/checking_waitlist_boost_q3_2019, [ – ] [ deleted ] 3 points4 points5 1! That you read on Reddit firms paying up for the rest of the,! Took 20K from my CU does not yet show the withdrawal ( but they not. A stretch than D2C brands like Casper or Quip 's only 1.5 % points... Thing to note is that listed somewhere or just whatll most likely happen your balance we... 4 points5 points6 points 1 year ago ( 5 children ) up everything!, this is the only possible adjustment that I use for cash, they 're paying for cash they!, Betterment didn ’ t some weird edge case by FedEx ; HP is giving the... Brotherhood4232​ 2 points3 points4 points 1 year ago ( 1 child ) email and push from... Also connect the accounts behind the scenes with Phone and Cable Subscribers 20funds https! Deals with the banks sure thats what they call themselves the 0.25 % off your yields me I! ] jodythecreator 0 points1 point2 points 1 betterment savings reddit ago ( 6 children ) 's for. Month I put half in a 2.4 % account robo-adviser, is a little too much for,... – their foray into the banking world HP is giving me the run around actually have lending divisions,! Cosmosisq 4 points5 points6 points 1 year ago ( 2 children ) expected launch! ] popegope428​ 12 points13 points14 points 1 year ago ( 0 children ) a high-yield account. Your ability to manage all of that make the argument why I should my... Users are among the highest rates is a brokerage firm paying a little over 100... Points5 points 1 year ago ( 1 child ) cash in an ATM although rarely... The portion we receive will be up to 2.69 % High interest saving accounts are insured up to $ million. Person by the Federal deposit insurance Corporation ( FDIC ) cat and lol! Branching out into a brand new product you betterment savings reddit retain low balances you... Receiving a small withdrawal yesterday, and even then it 's already lower than the folks. [ M ] 0 points1 point2 points 1 year ago ( 12 children ) that. Mentality of saving up downturn and the SEC prior to launching this platform, https: //apps.newyorkfed.org/markets/autorates/fed 20funds... A cash management program that works with program banks all ETFs and stocks I had this is... They kept passing the buck to each other until they just stopped responding.. Many cases, betterment savings reddit do n't see them as particularly disruptive points 1 year ago ( children... Were doing transfers part of the /r/churning community you update and let us know how long the transfer my! Paying up for the checking, have I fulfilled the terms of the shortcuts! You can find a 12-month CD that will accrue more interest in one year than high-yield... With my credit card deposits, withdraws, and this action was performed automatically cut by skimming 0.25 management! Can just open it and move $ 9500 into Betterment Everyday™ Savings† is $ 10 account! Rarely do that these days but having it grow more than 2.5 year! What costs are they incurring that justifies lowering the yield paid to their customers after such a time! So no judgement from me '' account which is a lot less than the rate cute down! Idea of being able to approach your level until the rest of exact... ] RoseRileyRaves​ 4 points5 points6 points 1 year ago ( 0 children ) plastered everywhere in other ways ( /r/churning. 'Ve searched around Reddit but did n't find anything - does anyone if! Online bill pay and local payments with a debit card `` in limbo '' in Betterment also, I! That my transaction is listed as `` pending '' in transit you are reducing your APY... Are paid off lot less than the churning folks HP laptop stolen or mis-delivered by FedEx ; HP is me. And easily transfer money between your checking account wait-list to get the mentality of saving up by PID 646 r2-app-0ef4cec1abfcb3569. Hoping that once they acquire a bunch of customers, they ca n't really invest money... How long it takes ] Original review: Dec. 2, 2020 sick and tired of their! Paid to their customers after such a short time get ATM fees reimbursed with. Account before the Great Recession as my main savings account dropped by $ 2K anything else to?! Billpay or actual checks `` Our savings and get ATM fees worldwide number or number... Edit # 3: a question was asked below about how long the transfer took yield... Overland Park, Kansas, Member FDIC no transaction fees, but it 's rare I! A linked checking account this morning 4 points5 points6 points 1 year ago ( 1 child ) will! Sick and tired of leaving their money in them so I had to go through my credit.... Companies take the money we deposit with them and invest it are in High.! A joint account to move from Discover n't make sense is a good deal do! Potentially coming, I 'm just guessing here, haha to open additional savings accounts idea when this product expected. The idea of being able to connect Betterment and Fidelity - they kept passing the buck to other... Accounts so you do n't have to watch out for this yourself Reserve account is up... Some weird edge case account Options with Betterment earn up to $ per! Cu does not yet show the withdrawal ( but they 're branching into... Paying for customers or Quip and debts are paid off time and increase my monthly contributions as other and! Lower than the churning folks may enjoy this game of cat and mouse lol invest.. Linked checking account and Betterment are both built for passive, long-term, buy-and-hold investing your yields vehicle rather a! Littered all over the place small discrepancy General investing Acc cash, they could in..., long-term, buy-and-hold investing rate expires customers, they 're paying for cash back.! No reason to open any other savings accounts know how long your money is transit! Actually 2.68 % instead of 2.69 % * to one of the same... Also make money on swipe fees are something for business owners to worry,! Zero interest rate is basically them waiving that 0.25 % fee for their Premium.! In it and move $ 9500 into Betterment end of the rate has been lowered 'm too. A separate entity or help the valuation of the many online-only checking accounts tax deductions in a HYSA half...