11 Dec Betterment Cash Reserve
MyRoboAdviser™ has partnered with Betterment for Advisors as our technology platform and custodian to provide our services to our clients. Earlier in 2019, Betterment launched “Cash Reserve” which serves as an online savings acccount. The checking account version recently came out as well. The new Savings and checking accounts are FDIC insured up to $1,000,000 and the current interest rate for Cash Reserve– as of 12/2/2019 – is 1.78%. This rate is variable and is subject to change. Interest is paid into your account on the first business day of each month, unless that day is a bank holdiay, then it will be paid by the following business day. Betterment Cash Reserve has no fees on your balance. While Betterment is not assessing fees from your balance, they are receiving a small portion of earned interest in the account. However, the interest rate you see advertised – currently 1.78% APY as of 12/2/2019 – is the rate you receive on your balance. In addition to the zero fees, with checking, all ATM fees will be reimbursed.
How to Open a Betterment Cash Reserve Account:
To open a Betterment Cash Reserve account, login to your MyRoboAdviser™ account and navigate “+ Add new” on the left-hand side of your home screen. Select Cash Reserve and follow the prompts to open the account.
Check out Betterment Everyday Savings and Checking FAQ page to learn more about these two types of accounts.
If you have any questions about holdings in your account or one of our models, or perhaps have another question about our services, you can contact us directly at 920.785.6012 or email us at email@example.com. My Robo Adviser™ has partnered with Betterment for Advisors as our technology solution to provide our services to our clients. Betterment maintains a support line you can also call for help with navigation, linking your accounts or other site functionality. You can call the Betterment for Advisors support line at 800.400.1571.
Last updated December 10, 2019