Betterment Help Center (2024)

FAQs

How do I contact Betterment support? ›

Want to speak to customer support? Call us directly at (718) 400-6898. We are available Monday-Friday, 9:00 AM - 8:00 PM ET.

Once in your mobile app, choose the goal you would like to withdraw funds from and select Withdrawal from the Overview tab. Withdrawals generally take about 3-4 business days to process.

SIPC membership: Betterment provides Securities Investor Protection Corporation (SIPC) insurance, like any investment broker. This insurance covers your portfolio and uninvested cash in case Betterment goes bankrupt. Your portfolio is insured up to $500,000, with up to $250,000 maximum for uninvested cash.

Betterment remains a top robo-advisor, with plenty of investment options, a strong cash management account and unlimited access to human advisors for larger portfolios. Bankrate scores are objectively determined by our editorial team.

Betterment was founded in 2008 in New York City by Jon Stein, a Columbia Business School MBA graduate, and Eli Broverman, a lawyer out of NYU School of Law. Betterment, LLC was established as a Delaware corporation on April 7, 2009.

Yes, Betterment Cash Reserve accounts are safe. Deposits to Cash Reserve accounts are FDIC insured up to $1 million through Betterment's partner banks†.

Withdrawals generally take about 4-5 business days to process; funds will automatically be sold and sent to your linked bank account. When you request a withdrawal, shares in your account are sold and this may have tax consequences. Betterment will always sell your shares in a way that minimizes taxes for you.

We do not charge any trading fees or assess penalties for requested withdrawals or account closures. It's your money and is always accessible to you.

Lots to like: Betterment offers multiple portfolio options, has a low minimum investment, and charges a very reasonable annual management fee of just 0.25% for those who qualify. Otherwise, it's $4 per month. Fractional shares: Fractional shares mean all your cash is invested.

Further, the Securities Investor Protection Corporation (SIPC) protects all Betterment accounts, up to $500,000 per account. This protects you against any losses that may arise as a result of broker error. So if you're thinking about investing with Betterment, you should have both a safe and successful experience.

What is the Betterment scandal? ›

Betterment misstated or omitted facts when communicating with clients about its automated tax loss harvesting service from 2016 to 2019, the SEC found , opens new tab after its investigation. It also failed to give clients notice of contract changes and failed to maintain certain records, the regulator said.

Betterment is better for people who have less money to invest, because it doesn't have a minimum amount to open an account, while Vanguard requires a minimum of $3,000 of assets to use its Vanguard Digital Advisor® robo-advisor service. Do Vanguard and Betterment offer access to financial advisors?

Your money is FDIC-insured up to $2 million with our program banks ($4 million for joint accounts).

Our checking services are provided by nbkc bank. If you already have funds at nbkc bank or another nbkc bank partner separately from what you hold through Betterment Checking, you will be eligible for up to $250,000 per depositor, per FDIC-insured bank, per ownership category.

Is Betterment FDIC-insured? Yes, funds deposited into Betterment Cash Reserve accounts are FDIC insured up to $1 million maximum (up to $250,000 per partner bank, including any existing deposits at those banks) through a deposit sweep program.

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